Why-Five? The Strange, Magnetic and Mesmerizing Effect of the Five Percent Unitrust and Spending Rate on Settlors, Their Advisers, and Retirees
36 Pages Posted: 11 Apr 2005
Abstract
Investment literature aimed at trustees and retirees often assumes that investors can obtain a return sufficient to support a five percent annual payout without impairing capital. According to the author, truly sophisticated commentators see this as over-optimistic at this time. This disconnect between investor fantasy and investment reality is the topic of this essay. The author explores the idea primarily in a trust context.
Suggested Citation: Suggested Citation
Dobris, Joel Charles, Why-Five? The Strange, Magnetic and Mesmerizing Effect of the Five Percent Unitrust and Spending Rate on Settlors, Their Advisers, and Retirees. Available at SSRN: https://ssrn.com/abstract=701503
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