Listen to the Podcast Below
On today’s show we will be talking to Dr. Wade Pfau, Professor of retirement income in the PhD in Financial and Retirement Planning program, Co-Director of the New York Life Center for Retirement Income, and the RICP® program director at The American College of Financial Services.
Dr. Pfau is a co-editor of the Journal of Personal Finance. He has spoken at the national conferences of organizations for financial professionals such as the CFA Institute, FPA, NAPFA, AICPA-PFP, and AFS. He also publishes frequently in a wide variety of academic and practitioner research journals and his research has been discussed in outlets that include print editions of The Economist, The New York Times, The Wall Street Journal, and Money Magazine.
During this episode you’ll hear
- How Wade Pfau’s advise and practices stand out in the retirement space
- Two fundamentally different philosophies for retirement income planning
- How probability-based philosophy, as you describe it, is better understood by the public than the safety-first approach
- The characteristics of the probability-based approach
- Inherent risks of the probability-based approach that can sidetrack folks before and during their retirement years
- Lesser known ways to use insurance to help with retirement planning and execution that
- The types of risks that can be mitigated in retirement using a safety-first retirement planning approach
Jonathan Krueger is an Investment Advisor Representative with Lion Street Advisors, LLC, a Registered Investment Representative and a Registered Representative with Lion Street Advisors, LLC member SIPC. Opinions expressed on this program do not necessarily reflect those of Lion Street Advisors, LLC or LionsGate Advisors. The topics discussed, and opinions given are not intended to address the specific needs of any listener. Neither Lion Street Advisors, LLC nor LionsGate Advisors offer legal or tax advice; listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance.
Wade D. Pfau, Ph.D., CFA, RICP, is the curriculum director of the Retirement Income Certified Professional designation and a Professor of Retirement Income at The American College of Financial Services in King of Prussia, PA. As well, he is a Principal and Director for McLean Asset Management. He holds a doctorate in economics from Princeton University and publishes frequently in a wide variety of academic and practitioner research journals on topics related to retirement income.
He hosts the Retirement Researcher website, and is a contributor to Forbes, Advisor Perspectives, Journal of Financial Planning, and an Expert Panelist for the Wall Street Journal. He is the author of the books, Safety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement, How Much Can I Spend in Retirement? A Guide to Investment-Based Retirement Income Strategies, and Reverse Mortgages: How to Use Reverse Mortgages to Secure Your Retirement