Since the mid-1990s, the 4% rule has been a gold standard in retirement planning. Its simplicity is the key to its appeal because it helps answer a challenging and complex question: How much can you spend each year in retirement?

While the 4% rule is a great starting point for your retirement planning, it's flawed as a stand-alone strategy because its simplicity leaves too much room for error. The reality is the market and economy are volatile at times, which creates blind spots that could get retirees in trouble.

Here's how you can tweak the rule to improve it and ensure your retirement goes according to plan.

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Source Fool.com