How should individuals invest and spend in retirement with interest rates so low, stock valuations high, and inflation uncertain. Why retirement managed payout funds and income replacement funds failed.Topics covered include:How managed payout and income replacement funds compare to immediate annuitiesWhy Vanguard and Fidelity changed the objective of their retiree focused income replacement and managed payout fundsHow fixed annuities workHow retirees should combine annuities with multi-asset class portfolios to ensure a successful retirementWhy the 4% retirement spending rule is not appropriate for all investors all of the time.Why inflation is the biggest determinant of how much retirees can spendWhy is there so much controversy over the current and future inflation rateThanks to Mint Mobile and Truebill for sponsoring the episode.Show Note LinksVanguard Throws in the Towel on Its Managed Payout Fund by Daren Fonda—Barron'sGenerating Retirement Income Isn’t Easy, Even for Vanguard by Reshma Kapadia—Barron'sToday's Best Multi-Year Guaranteed Annuities (MYGAs)—ImmediateAnnuities.comOpinion: The inventor of the ‘4% rule’ just changed it Brett Arends—MarketWatchThe Price of Tomorrow: Why Deflation is the Key to an Abundant Future by Jeff BoothAlternate Inflation Charts—John Williams' Shadow Government StatisticsAmericans Are Richer Than We Think by By Phil Gramm and John F. Early—The Wall Street JournalFor more information on this episode click here.