New retirees might enter a different environment than their predecessors — the economy or market might have changed slightly or dramatically.

Morningstar researchers have investigated and identified their latest starting safe withdrawal rate. Hint: it’s slightly lower than last year.

Here to discuss this research is Amy Arnott, a portfolio strategist with Morningstar. The interview has been edited for length and clarity.

Q: You and your co-authors recently published your annual report on the state of retirement income. Can you talk about the main goal of this research and how it’s different from other research that looks at retirement income strategies?

A: The goal was to estimate how much you can safely withdraw from your portfolio during retirement.

This is one of the most difficult

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