The creator of the 4% rule for retirement savings wants you to spend more

Bill Bengen, creator of the 4% rule, now says the safe withdrawal rate is 4.7% and that 5.5% is a more practical starting point for many retirees.
He stresses the original 4% rule was intentionally ultra‑conservative — meant to survive worst‑case market runs — and recent above‑average stock returns make higher withdrawals reasonable.
Bengen warns about "FOROM" (fear of running out of money): many retirees underspend and studies show roughly one‑third of people in their mid‑80s still have as much or more than they started retirement with.