Forget the 4% rule: Why one Wall Street CEO thinks Americans should be even more conservative with spending in retirement

Karl-Josef Hildenbrand/picture alliance via Getty ImagesMost investors are familiar with the 4% rule for retirement spending.John Montgomery, CEO of Bridgeway Capital Managment, thinks retirees should take a more conservative approach.He advises having 90% of a portfolio in stocks and withdrawing 2.8%, measured from recent highs.Earlier this month, I detailed a conversation I had with Bill Bengen, the creator of the 4% rule for retirement spending. Bengen had upped his annual spending allowance