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Welcome to Every Day is Saturday, the newsletter reminding us that in retirement, every day is Saturday (including Monday mornings).

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Coming Soon: Interview with the Father of the 4% Rule​
I’ll be sitting down with Bill Bengen soon, the Father of the 4% rule, right here on the podcast. If you have any questions for him- now is your chance!
Hit reply to this email with your questions, and I’ll do my best to include them in the interview.

Episode Breakdown

Emergency Fund Tactics & Withdrawal Timing​
(0:00) A humble celebration of our 400th episode milestone
(3:20) Retirement Headline: 10 Emergency Cash Sources — ranked!
(24:45) Listener Question: Lump sum vs. monthly withdrawals in retirement

​Listen on Spotify | Listen on Apple​

Retirement Headline: 10 Sources of Emergency Cash — Ranked

Source: Morningstar, by Christine Benz
Featuring: Analysis on cash access from best to worst

Here’s the situation: The emergency fund is empty. Now what?

Morningstar’s Christine Benz offers a ranked list of 10 potential emergency cash sources. We walk through all 10 on the show, but here’s the cheat sheet:

Top-tier options:

1. Emergency Fund / Short-Term Securities – Always your first move
2. Low-Risk Assets in Taxable Accounts – Great liquidity + tax efficiency
3. Roth IRA Contributions – Penalty- and tax-free if you're tapping contributions only

Middle-ground options:​
4. Cash Value Life Insurance – Check your policy health with an “in-force illustration”
5. 401(k) Loans – Risky if job loss looms
6. HELOC (Home Equity Line of Credit) – Smart to set one up before retirement

Last-resort options:​
7. 401(k) Hardship Withdrawals – Penalties + taxes sting
8. Reverse Mortgages – Complex, costly, and misunderstood
9. Margin Loans – “Collateral” becomes risky in a down market
10. Credit Cards – Just don’t (unless it’s truly an emergency)

Quick Tip: Ask for an “in-force illustration” if your permanent life insurance policy is 10+ years old. It could help you avoid a costly lapse.

Listener Question of the Week

“Is it better to take my annual retirement income as a lump sum or in monthly installments?”

My take:

• Lump sums work during accumulation (more time in market = better odds)
• But in retirement, psychology matters
  • Monthly = normal, stable, budget-friendly
  • Annual = risk of overspending early, underspending later
• It also syncs better with dynamic withdrawal rules like guardrails
• Bonus: Spending monthly helps mitigate sequence of returns risk, since we’re leaning on bonds/cash buffers instead of selling stocks at a loss

The takeaway:​
Stick with monthly withdrawals. It feels familiar, keeps you disciplined, and reduces regret. Retirement isn’t just about maximizing returns — it’s about creating a life that feels balanced, stable, and sustainable.

Resources Mentioned

• ​Christine Benz – 10 Sources of Emergency Cash​
• ​Order: How to Retire by Christine Benz​

That's it for our three hundred and eighty-first installment of "Every Day is Saturday." As always, reply to this email with your retirement questions and you might hear them featured on the show! I read and respond to (almost) every email.

Have a great "Saturday",
Benjamin Brandt