Pretend that you're Patricia. Write an email to answer the questions.

"Hi Patricia, We understand that you will need more information from us to build out a full financial plan, but we were wondering if you could help us understand some general guidelines regarding how much we might be able to spend in retirement? Jacob was doing some reading online and came across the "4% Rule". Is this a good guideline for how much we can spend? What other factors influence how much we can take from our portfolio?

Also, I know we talked about assuming we will live until age 95 for the purposes of our plan, but I'm still having a hard time wrapping my head around that. Both of our parents only lived into their late 70s. Should we really expect to live that much longer than them?

Thanks!"

Jacob's Age: 65 Sam's Age: 65 Desired Retirement Age (both): 65 Current Portfolio: $1,000,000 of 401(k) savings (pre-tax) Risk Tolerance: Moderate Jacob's Social Security Income: $30,000 Sam's Social Security Income: $18,000 Jacob's Health: Good. Non-smoker. No family history of medical issues. Sam's Health: Good. Non-smoker. No family history of medical issues. Other assets/sources of income: None