Retirees face higher shortfall risk as 3.9% withdrawal rate challenges bond-heavy portfolios

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  • The Journal of Financial Planning study challenges bond-heavy retirement portfolios as the safest strategy.
  • 3.9% is Morningstar's safe starting withdrawal rate for retirees in 2026.
  • National health spending is projected to rise 5.4% annually through 2034, CMS says.
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