Retirement income strategies for 2022 and beyond Episode 26
Episode Summary
People are finding it more and more difficult to plan for retirement as they face issues such as their ability to save while working, how to convert those savings into income, and how to properly plan for all the other elements such as Social Security and taxes. Wade Pfau, a professor of retirement income at the American College of Financial Planning, joins the podcast to discuss these issues and more.
Episode Notes
In this episode, you’ll hear about:
- Retirement income style awareness.
- Creating retirement income that takes taxes into account.
- Factoring Social Security into those decisions.
- Is the 4% rule still valid today?
- RMDs as the basis for income?
- Social Security claiming decisions, annuities, and reverse mortgages.
Related article: High school classes ineffective in boosting retirement savings: Study
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Guest Bio:
Wade D. Pfau, Ph.D., CFA, RICP®, is the program 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 as a co-director of the college’s Center for Retirement Income. As well, he is a Principal and Director for McLean Asset Management and RISA, LLC. He holds a doctorate in economics from Princeton University and has published more than sixty peer-reviewed research articles in a wide variety of academic and practitioner journals. 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. Wade’s newest book is Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success. He is also 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.
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