You may have heard of the old financial planning adage that says as long as you withdraw no more than 4 percent of your portfolio's balance each year, it has statistically a much better chance of surviving over a 30-year timespan.  Some have said the withdrawal rate should be even lower than that --  maybe no more than 2 percent.

But whether the amount is 4 percent, 2 percent, or some other number, the more important  issue is this: what is your withdrawal strategy?  Will you potentially have to sell stocks when they're down in value in order to meet your spending needs?  If so, you're asking for trouble.

In this week's episode of Managing Your Financial Future, podcast host Johnny Dean speaks with "Professor" Rick Plum, CFP® about how the "4 percent rule" is really just a guideline, and why having a sound withdrawal strategy may be your bigger key to success.