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Today, I'm thrilled to welcome David Blanchett back to the podcast. David is the Managing Director and Head of Retirement Research at PGIM DC Solutions and one of the most respected voices in retirement income planning today. You've likely come across his work in Morningstar, Kiplinger, and our Weekend Reading series—and for good reason. His research has earned accolades from nearly every major financial planning organization. In our conversation, we picked up where we left off back in Episode 55 with David's groundbreaking research on retirement spending patterns and adapting it to today's environment of elevated interest rates and persistent inflation. From challenging the idea of a "retirement crisis" that is making headlines everywhere to rethinking the 4% retirement income rule, David helps us distill the data and build income strategies grounded in behavioral and financial realities. In our conversation, we discuss the value and confidence that guaranteed lifetime income annuities provide retirees and how inflation concerns are impacting spending patterns. If you're planning your retirement or considering an adjustment to your current plan, this episode is packed with insights to help you spend your hard-earned dollars with confidence and design a secure and fulfilling retirement. In this podcast interview, you'll learn: Why “retirement crisis” is an overused headline—and why “challenge” is the better word. What David's research reveals about how real retirees spend—and why most don't adjust spending for inflation as expected. Why a 5% withdrawal rate may be more appropriate than 4% in today's interest rate environment. The behavioral power of guaranteed income—and how it gives retirees the freedom to actually enjoy their savings. How to build inflation hedges into your portfolio using tools like TIPS, annuities, and real assets. Show Notes: RetireWithPurpose.com/499
The Center for Retirement Research at Boston College recently surveyed financial advisors, asking what the major risks were to their clients' retirement. In this video, we'll look at the top 5 risks financial advisors identified, and compare them to the five biggest risks according to retirees.Here's the study: https://crr.bc.edu/wp-content/uploads...ProjectionLab (Use Code RBERGER-10 for a 10% discount): https://go.robberger.com/projectionla...Boldin: https://go.robberger.com/boldin/yt-Join the Newsletter. It's Free:https://robberger.com/newsletter/?utm...
Canada has voted. The Liberals have secured a minority government. Led by Mark Carney, the party is leading with 168 seats, falling just shy of 172 needed for a majority. The Conservatives are set to remain in opposition. So, what could a 4th Liberal mandate mean for Canada's economy, and your investments? And how are Canada and the world reacting to the news? On today's show, we have a panel of experts to break down the results of the federal election. David Herle is a former top advisor to Prime Minister Paul Martin, and host of popular political podcasts, “The Herle Burly” and “Curse of Politics”. David is also Partner at Rubicon Strategy. Also joining the show are Fidelity portfolio manager, David Wolf, and Fidelity Vice President of Tax and Retirement Research, Peter Bowen. Recorded on April 29, 2025. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics' Advisor Digital Experience Study.
Tax season is in full swing, and Fidelity is here to help. From key tax changes to new measures that could impact your bottom line, today's guest is here to answer your most pressing tax questions. How will updates to capital gains and corporate class structures impact investors? And what other tax measures should be on your radar before the deadline? Joining the show today to unpack all this and more, is Fidelity Director of Tax and Retirement Research, Jacqueline Power. Recorded on April 2, 2025. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics' Advisor Digital Experience Study.
Click here to work with us! Many retirees enter their golden years with the goal of financial security, but what if the biggest risk isn't running out of money—it's not spending enough of it? A surprising new study reveals that retirees are withdrawing just 2% a year from their savings—barely half of what's traditionally considered safe. This cautious approach might seem responsible, but it often leads to unnecessary frugality, missed experiences, and larger-than-expected tax burdens later in life. The hesitation to tap into personal savings, even when there's plenty available, raises an important question: What's stopping retirees from spending with confidence? Research shows that retirees feel much more comfortable spending guaranteed income from sources like Social Security and pensions while being reluctant to withdraw from their own investments. This behavioral tendency can leave money unspent for decades, only to be forced out later through required minimum distributions (RMDs) that create tax inefficiencies. Meanwhile, large inheritances often arrive too late to make a meaningful impact on the next generation. Rethinking the 2% mindset means understanding what keeps retirees locked into ultra-conservative spending habits and finding ways to turn savings into income that feels reliable. A simple shift—such as automating monthly withdrawals or adjusting expectations around financial security—can open the door to a more fulfilling retirement. The money was saved to be spent, and spending it well can be just as important as saving it wisely. Spending too little can be just as costly as spending too much. With the right approach, retirees can enjoy their wealth now while keeping future financial security intact. Outline of This Episode (0:00) Why Retirees Spend Far Less Than They Could (1:46) The study: Retirees underspending their savings (3:33) Why the 2% problem exists (6:10) The impact of underspending on taxes & an inheritance (8:11) The role of financial planning & behavioral coaching (9:20) Possible solutions: Turning savings into reliable income (11:04) Listener question: A simple withdrawal plan Resources & People Mentioned The Retirement Podcast Network David Blanchett – Head of Retirement Research at PGIM DC Solutions Michael Finke – The American College of Financial Services Die With Zero by Bill Perkins – Book on intentional retirement spending Connect with Benjamin Brandt Become a Client: www.retirementstartstoday.com/start Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Join the newsletter: https://retirementstartstodayradio.com/newsletter Dive deeper into retirement planning with Ben at www.RetirementIncome.University Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify
**Preparation is the Best Defense Against Uncertainty** According to LegalZoom, 56% of Americans believe that estateplanning is important; however, only 33% of adults in the U.S. have documentedtheir end-of-life plans. In 2021, among the estate plans created, 75.12% werewills, 18.78% were trusts, and 6.1% included the nomination of a guardian foryoung children. Research from USA Today indicates that fewer older Americansare writing wills, a trend that could create challenges for their survivors. Ananalysis published in August by the Center for Retirement Research at BostonCollege shows that the percentage of households headed by individuals over 70with wills or trusts has steadily declined since the mid-2000s. Between 2008and 2018, this share dropped from 70% to 63%. This downward trend reflects the increasing diversity amongolder Americans. Seniors are more likely than ever to belong to Black orHispanic communities, and these populations are less likely to leave a will orreceive an inheritance compared to non-Hispanic whites. Oscar Vasquez is the founder of EstateDocPrep.com and anexpert in estate planning. He assists families and homeowners in protectingtheir assets from the high costs associated with probate. Oscar's insights oncreating living trusts and avoiding expensive estate planning mistakes couldsave you thousands of dollars while providing peace of mind. **Estate Planning Made Simple and Accessible:** Protectingyour family shouldn't come with a hefty price tag. Unfortunately, many familiesforgo an estate plan because traditional attorney fees can feel prohibitive.That's why we created this platform—to provide everyone with access toaffordable, attorney-drafted solutions designed to safeguard their loved onesand bring peace of mind. Our innovative software simplifies the complexities ofthe legal process, making estate planning effortless and stress-free. If you're a homeowner, you won't want to miss thisconversation. For more information: https://estatedocprep.com/ Get the Guide: https://estatedocprep.com/guide 24/7 Client Assistance: (805) 909-4689
There are only a few weeks left in RRSP season before tax season kicks into high gear. Add in the marquee tax topic of the year - the capital gains inclusion rate - and you have a full plate of financial decisions to navigate. With tax season around the corner, are you prepared for what's ahead? And how can you make the most of RRSP season? Joining the show today to unpack all this and more, including a look at the latest tax and policy changes, is Fidelity Vice President of Tax and Retirement Research Peter Bowen, and Fidelity Director of Tax and Retirement Research, Michelle Munro. Recorded on February 11, 2025. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics' Advisor Digital Experience Study.
With a career in a stable industry and a solid plan for retirement, Matthew Rutledge's father expected to retire on his own terms. But when he was suddenly laid off at 59, the financial impact was crushing. Watching his father struggle to bounce back at that stage of life made Matt realize how fragile retirement security really is, even for those who plan ahead. Now, he researches why millions of people are working longer but still struggling to retire and what we can do to fix it.Matthew Rutledge is a leading researcher on labor markets and retirement security at the Center for Retirement Research at Boston College. His work examines how automation, job loss, and shifts in economic policy affect financial stability for older workers.In this episode, Dart and Matt discuss:- The job loss that shook Matt's father- How pensions disappeared and left workers exposed- Are 401(k)s a risky bet or a safety net?- The brutal financial shock of widowhood- The long-term care crisis no one sees coming- Why Social Security won't be enough- Job benefits that keep workers stuck- What Europe does right about retirement- How career loyalty no longer pays off- How to safeguard your retirement savings- And other topics…Matthew S. Rutledge is an economist at the Center for Retirement Research at Boston College, where he focuses on retirement security and the shifting realities of work in the modern economy. His research has shed light on the long-term effects of economic downturns on Social Security and older workers, revealing hidden vulnerabilities in the retirement system. He has also explored how automation is pushing older workers into non-traditional jobs and reshaping career trajectories. Matt's work frequently appears in academic journals, policy reports, and media discussions on the future of retirement.Resources Mentioned:Nomadland: Surviving America in the Twenty-First Century, by Jessica Bruder: https://www.amazon.com/Nomadland-Surviving-America-Twenty-First-Century/dp/039324931XNomadland, directed by Chloé Zhao: https://www.imdb.com/title/tt9770150/Connect with Matt:LinkedIn: https://www.linkedin.com/in/matt-rutledge-84a4964/Twitter: https://twitter.com/matt_rutledge/Work with Dart:Dart is the CEO and co-founder of the work design firm 11fold. Build work that makes employees feel alive, connected to their work, and focused on what's most important to the business. Book a call at 11fold.com.
Kristy Akullian, head of iShares Investment Strategy for the Americas at BlackRock, says that "the most important thing we're watching is earnings" as an indicator for the year ahead, noting that in 2024 more of the performance came from earnings growth than from multiple expansion, particularly for the parts of the market like large-cap growth companies that had a banner year. While the stock market is still looking for interest rate cuts, Akullian says that earnings can overcome any disappointment that is likely as the Federal Reserve slows the pace of rate cuts. For the year ahead — and iShares released its outlook for 2025 today — she is expecting modest gains, no recession, and continued struggles for international markets and small-cap stocks. Kim Blanton, who writes the Squared Away blog for the Center for Retirement Research at Boston College, discusses research which shows that delaying Social Security pays off for couples, but particularly for high-income families who get the best possible outcomes by being patient and who — because of their income — can afford to wait to achieve that outcome. Plus, Chuck answers questions about Morningstar and VettaFi and mutual fund research and ratings.
What shapes investor beliefs and behaviours? Steve Utkus, a leading expert in investor behaviour and former Global Head of Investor and Retirement Research at Vanguard, brings decades of groundbreaking insights to this episode. Drawing on exclusive access to Vanguard's anonymized client data and investor surveys, Steve uncovers the intricate links between what people believe and how they invest. In the first half, he reveals surprising findings from his research into investor beliefs and portfolio decisions. The second half dives into the impact of financial advisors, both human and robotic, on improving investor outcomes. Steve's reflections, enriched by years of collaboration with academic leaders and personal conversations with Vanguard founder Jack Bogle, offer a rare window into the world of data-driven financial research. Join us today for this fascinating conversation as we unpack fresh perspectives on investor behaviour and the evolving role of financial advice! Key Points From This Episode: (0:00:20) The importance of understanding investor belief, Steve's unique approach to studying it, and the benefits of using survey data. (0:08:37) Understanding the effects of individual beliefs on portfolio equity shares. (0:13:40) How equity sensitivity varies with things like trading frequency and how observed sensitivity compares with predictions of an asset pricing model. (0:17:27) The variation of beliefs across different groups and the strong effect of being a pessimist, optimist, or having a middle-of-the-road perspective. (0:21:29) Investor cash flow expectations, how it affects stock return expectations, and how it aligns with models of equilibrium. (0:24:35) The impact of stock market disaster expectations on future stock returns and the effect of COVID-19 on investor expectations. (0:33:37) ESG investing motives, portfolio impact, and the role of financial returns. (0:38:35) Unpacking the impact of robo-advisors on previously DIY investors and who benefits. (0:45:21) Pros and cons of human financial advisors: the needs they satisfy over robo-advisors. (0:53:12) How unadvised investors' needs differ from those who get financial advice. (0:54:04) What determines how much value investors place on financial advice and how they think about the trade-offs between fees and the value of advice. (01:00:00) Reasons traditionally-advised people give for not switching to robo-advising. (01:03:15) Having a relationship with a good advisor: how it impacts investor behaviour through poor market performance periods, and the importance of frequent quality communication. (01:13:07) The key attributes of a high-retention advisor and what they should be focusing on. (01:19:02) Success, retirement, timing, and knowing when to leave, according to Steve. Links From Today's Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/ Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP Steve Utkus on LinkedIn — https://www.linkedin.com/in/steveutkus/ Episode 278: Juhani Linnainmaa — https://rationalreminder.ca/podcast/278 Books From Today's Episode: Bogle on Mutual Funds — https://www.amazon.com/Bogle-Mutual-Funds-Perspectives-Intelligent/dp/111908833X Papers From Today's Episode: ‘Political Cycles and Stock Returns' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2920401 Scott Cederburg Paper — ‘The Diversification and Welfare Effects of Robo-advising' — https://www.sciencedirect.com/science/article/abs/pii/S0304405X24000928 ‘Who Benefits from Robo-advising? Evidence from Machine Learning' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3552671 ‘Human Financial Advice in the Age of Automation' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4301514 ‘The Misguided Beliefs of Financial Advisors' — https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3101426
In episode 85 of In Her Wallet podcast, Sofiia sits down with Michelle Munro, Director of Tax and Retirement Research at Fidelity Investments Canada, to help you prepare for a financially successful 2025. Together, they explore practical steps for building wealth, creating financial security, and navigating life's big money decisions with confidence. Michelle shares actionable insights on starting your investment journey, balancing short- and long-term financial goals, and planning for retirement—all tailored to the unique challenges women face today. Whether you're just starting to invest or looking to refine your financial strategy, this episode is packed with expert advice to set you up for success in the new year. Get the Monthly Budget Planner by In Her Wallet Connect with Michelle Munro on LinkedIn Check out Fidelity Investments Canada Disclaimer: The views in this recording are the personal views of both speakers and should not be taken as the views of Fidelity Investments Canada. This commentary is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. Individual circumstances and current events are critical to sound investment planning; anyone wishing to act on this article should consult with his or her advisor. Neither Fidelity Investments Canada nor any of its affiliates, nor any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of this podcast, the information contained herein or the associated report on which this podcast is based.
TRAILERWelcome to episode 75 of the One for the Money podcast. I am both glad and grateful you have taken the time to listen. They say wisdom is learning from the mistakes of others and in that spirit, this episode will feature the mistakes a retirement expert made about her own retirement and I'll share ways to avoid these same mistakes. In the tips, tricks, and strategies portion, I will share a handy rule of thumb regarding knowing if you are on track for retirement.In this episode...Who Is Alicia Munnell? [1:45]Mismanagement of Investments [2:47]Failure to Utilize Roth 401(k) [5:24]Premature Government Pension Withdrawal [8:14]Using Retirement Funds Early [10:07]MAINMost people really only have one shot at retirement so you want to be sure you get it right and you will want to be sure to avoid any mistakes. They say wisdom is learning from the mistakes of others and in that spirit, there was a recent article in the WSJ on the ways a retirement authority got it wrong. This can serve as an example of what not to do. The Oct 12, 2024 article states in its opening line “Alicia Munnell spent decades trying to improve how Americans retire. Even she made mistakes in her retirement planning.”First, let me share more about Alicia Munnell. She is an economist who served as an assistant secretary at the Treasury Department under President Bill Clinton. Her time in the Treasury Department was preceded by 20 years at the Federal Reserve Bank of Boston. After her time in the public sector, she established Boston College's Center for Retirement Research, a think tank in 1998. Alicia, who is 82 years young, has been steeped in finance for many decades and her work covered everything from improving the 401(k) to whether the U.S. faces a retirement crisis.(Her Answer: Probably yes, since she and her colleagues calculate about 40% of the working population isn't saving enough to maintain their lifestyle throughout retirement.) And yet despite the focus of her life's work, she made some basic mistakes about her very own retirement. Here were some of her mistakes along with my thoughts on how she could have avoided them. One mistake she repeatedly made was not regularly monitoring her investments. Like many people, she said that she lacked the time and interest to manage money. What she would do would rely on the occasional advice from her son, who works at a financial firm.In her words “Every now and then, he tells me to send him my asset allocation and then he tells me how to adjust it. If I had to figure out what to invest in, I'd have no clue,” said Munnell. “People have busy lives. Retirement planning should not be something they have to put a lot of effort into.”This boggles the mind. I am shocked a retirement authority, who highlights the importance of 401ks handles her retirement investments so carelessly. First, she doesn't have a set schedule to review her investments on a regular basis, instead, she said that “every now and then” she reaches out to her son who works at a financial firm for changes she should make. And because she approached things so haphazardly, she or her son never consider her overall goals or taxable implications regarding her investments as demonstrated by the other mistakes that she had made. Here's how Alicia could have avoided this investment management mistake. She should have spent the time with her husband outlining their specific goals for retirement. These goals would then be used to align her investments with those specific goals. She then should have had regularly scheduled meetings to confirm their goals and re-align their investments if necessary. She should have assumed this responsibility herself or delegated it to a financial planning professional who was aware of her goals and could...
Our guest on the podcast today is Phil Moeller. He's the primary author of the Get What's Yours series of consumer guidebooks, including a newly revised edition of Get What's Yours for Medicare: Maximize Your Coverage, Minimize Your Costs. In addition, the series includes Get What's Yours: The Revised Secrets to Maxing Out Your Social Security and Get What's Yours for Health Care: How to Get the Best Care at the Right Price. Phil wrote the “Ask Phil” Medicare column for the PBS NewsHour website, Making Sense, reported on aging healthcare and retirement for Money magazine, and wrote “The Best Life” feature on aging and retirement for US News & World Report. He began his career as a newspaper business reporter and editor, and has worked for The Baltimore Sun, The Charlotte Observer, The Chicago Sun Times, The Hartford Business Journal, and The Louisville Courier Journal. He later founded the insure.com consumer website and also worked as a communications executive for a large insurance company.BackgroundBioGetWhatsYours.orgInsure.comBooks: Get What's Yours for Medicare: Maximize Your CoverageGet What's Yours: The Revised Secrets to Maxing Out Your Social SecurityGet What's Yours for Health Care: How to Get the Best Care at the Right PriceParts of Medicare Explained“Phil Moeller: What's New for Medicare—and More—in 2024?” by Phil Moeller, uhc.com, Jan. 10, 2024.“Phil Moeller: Filling the Coverage Gaps in Medicare,” by Phil Moeller, uhc.com, Sept. 25, 2024.Get Started With MedicareWhat Part A CoversWhat Part B CoversMedicare Advantage PlansWhat Medicare Part D Drug Plans CoverCompare Medigap Plan BenefitsWorking Past 65Private Insurance“Learning to Love Insurance Brokers (Within Limits!),” by Phil Moeller, substack.com, April 22, 2024.“Medicare Moment by Phil Moeller: Moving From Employer Health Insurance to Medicare,” Video by Phil Moeller, uhc.com, Nov. 21, 2022.Other“Washington State Establishes a Long-Term Care Program,” by Alicia H. Munnell, Center for Retirement Research at Boston College, crr.bc.edu, Aug. 13, 2024.Medicare Plan FinderMedicare & YouKFF
Almost every state and local government worker in the US participates in a public pension system, creating a strong bond between the fiscal health of states and municipalities and their employees' retirement systems. These smaller systems have faced the same demographic challenges driving concerns over Social Security's funding, but they've also had to deal with rapid migration flows, fluctuating revenues, and the Fed's aggressive interest rate hikes during the last four years. In this episode, we talk with JP Aubry, Associate Director of State and Local Research with the Center for Retirement Research at Boston College, about how state and local pensions fit into the national retirement system, their impact on public budgets, and the biggest challenges they face in the coming years.
When we think about our financial fears, one tops the list: Running out of money before we run out of time. According to the Center for Retirement Research at Boston College, half of all US households are at risk of not having enough income to maintain their standards of living in retirement. The bottom line is that Americans have a problem and we know it. The good news is that we have the ability to fix this problem in our own individual lives, with tools we already have access to today. They're called annuities, and more people are interested in, and buying annuities, than in years past. Minji Ro, Chief Strategy Officer at Gainbridge, and Jason Fichtner, Chief Economist at the Bipartisan Policy Center join us to talk about what annuities are, why economists like them, and the advantages of considering them as part of your retirement portfolio. Chapters: 0:00 Intro 4:04 Defining Annuities: What They Are 12:06 The Shift in Retirement Income Strategies Over Time 14:01 The Three Major Types of Annuities: Fixed annuities, Fixed Indexed Annuities, and Variable Annuities 21:23 Transitioning Mindset: From Saving and Accumulating To Spending And Securing Protected Income 24:28 Annuities and Managing Longevity Risks As Women 30:00 Transition to Mailbag Segment 33:23 Retirement For Highly Compensated Employees 41:34 When To Get A Second Opinion From A Financial Planner Takeaways: Annuities can provide a guaranteed stream of income during retirement. There are three main types of annuities: fixed, fixed index, and variable. Economists like annuities because they offload risk and provide income protection. There is a behavioral barrier to annuitization, but changing the framing and understanding the benefits can help overcome it. Women, who earn less and live longer, should consider annuities to manage longevity risk. Have a question for us? Write to us at mailbag@hermoney.com. While you're at it, join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Thank you to Gainbridge® for supporting the HerMoney podcast. Gainbridge® created ParityFlex™, a multi-year guaranteed annuity, to offer women security and flexibility at a time when they need it the most—retirement. Learn more about ParityFlex™ here. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
The latest Debtwire Municipals Muni Lowdown podcast features Managing Editor Paul Greaves discussing public pensions with Jean-Pierre Aubry, associate director of state and local research at the Center for Retirement Research at Boston College and Curation Editor Stephanie Fagnani. Jean-Pierre kicks off the podcast by providing his thoughts on what “private credit” means in the context of public pension investments.The conversation shifts to the growing trend of public pension plans employing active management of their portfolio. Jean-Pierre offers his perspective on whether active management significantly improves plan performance.Jean-Pierre then explains how he addressed limitations in his research that compared active vs passive management.Jean-Pierre transitions into an explanation of what metrics are important to review when assessing the financial health of a public pension plan.Jean-Pierre concludes with a discussion on the overall performance of public pension plans over the last several years.
Capital gains taxes are going up for some Canadians, but there's a lot of confusion among investors and cottage owners about what it all means. Ottawa says it's only targeting the 0.13% but could it affect a wider segment of the population? What do the changes really mean and could it impact you and your summer oasis? We're talking cottages and capital gains today, featuring host Bryan Borzykowski breaking down these changes, and speaking with a number of experts including Fidelity's Michelle Munro, Director Tax and Retirement Research, and Phil Soper, CEO of Royal LePage. Today's interview was initially presented as a webcast in our Upside+ series, which you can watch on Fidelity Canada's LinkedIn page or YouTube channel. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics' Advisor Digital Experience Study.
We're hitting pause on new episodes during this holiday week. But we wanted to resurface one of our favorite conversations of the past year—the one that Jeff Ptak and I had with author and longtime columnist Scott Burns. We hope that you'll enjoy it, and we'll be back with a fresh episode next week.Our guest on the podcast today is syndicated personal finance columnist and author, Scott Burns. Scott began his career as a newspaper columnist in The Boston Herald in 1977, where he was also the financial editor. In 1985, he joined the staff of The Dallas Morning News, where his column became one of the most widely read features in the paper. Along the way, he created what he called Couch Potato Investing, which involves buying and holding a broadly diversified portfolio of low-cost index mutual funds. Scott has authored or co-authored several books, including The Coming Generational Storm and Spend ‘Til the End, both of which he co-authored with Laurence Kotlikoff. He received bachelor's degrees in humanities and biology from the Massachusetts Institute of Technology.BackgroundBioCouch Potato InvestingThe Coming Generational Storm: What You Need to Know About America's Economic Future, by Laurence J. Kotlikoff and Scott BurnsSpend ‘Til the End: Raising Your Living Standard in Today's Economy and When You Retire, by Laurence J. Kotlikoff and Scott BurnsBonds and Retirement“Do Bonds Have a Future?” by Scott Burns, Scottburns.com, May 14, 2022.“Scott Burns: These Four Pillars of Investing Stand the Test of Time,” by Scott Burns, Dallasnews.com, July 20, 2023.Allan Roth“TIPS Ladder Funds Don't Yet Exist, but They Should,” by John Rekenthaler, Morningstar.com, June 16, 2023.“Is America Hitting Peak Consumption?” by Scott Burns, Scottburns.com, Oct. 12, 2023.“The Pudding Report, 2022,” by Scott Burns, Scottburns.com, Jan. 15, 2023.“Examining the Tax Deferral Gift Horse,” by Scott Burns, Scottburns.com, April 8, 2023.Investing in Retirement“What's a Safe Withdrawal Rate Today?” by Christine Benz, Jeff Ptak, and John Rekenthaler, Morningstar.com, Dec. 13, 2022.“The 4 Percent Rule Is Not Safe in a Low-Yield World,” by Michael Finke, Wade Pfau, and David Blanchett, papers.ssrn.com, Jan. 15, 2013.“The High Cost of Immortality,” by Scott Burns, Scottburns.com, Dec. 18, 2022.“Making a Plan to Retire Now, Not Later,” by Scott Burns, Scottburns.com, April 25, 2022.“Is Homeownership Bigger Than It Should Be?” by Scott Burns, Scottburns.com, Nov. 14, 2020.“Is Downsizing in Retirement Actually Possible?” by Scott Burns, Scottburns.com, Nov. 21, 2020.OtherPortfolio VisualizerCenter for Retirement Research at Boston CollegeEmployee Benefit Research InstituteKaiser Family Foundation
Summary David is Managing Director, Portfolio Manager, and Head of Retirement Research for PGIM DC Solutions. In this role, he develops solutions to help improve retirement outcomes for investors with a specific focus on defined contribution plans. Prior to joining PGIM he was the Head of Retirement Research for Morningstar Investment Management LLC and before that the Director of Consulting and Investment Research for the Retirement Plan Consulting Group at Unified Trust Company. In this episode David and I discuss retirement planning and income generation. He emphasizes the importance of understanding the cost of retirement and the need to start planning early. Retirement is a complex and individualized process, and the traditional concept of retirement is evolving, David suggests using the term 'financial independence' instead. He also challenges the 4% rule for retirement withdrawals, suggesting that a personalized approach is necessary because flexibility in retirement income planning is crucial, as it allows for adjustments in spending based on changing circumstances. He also talks about why holding cash can provide both economic and behavioural benefits in retirement portfolios. Other highlights of our conversation are where we discuss the need for advisors and coaches in retirement planning, the importance of understanding and addressing regret risk, the value of spending money on experiences and giving during retirement, the impact of longevity risk on retirement confidence, the benefits of guaranteed lifetime income in retirement planning and Davids famous Retirement smile concept. Takeaways Understanding the cost of retirement and starting planning early are crucial for financial security in retirement. The traditional concept of retirement is changing, and 'financial independence' may be a more appropriate term. The 4% rule for retirement withdrawals may lead to underspending and regret, and a personalized approach is necessary. Flexibility in retirement income planning allows for adjustments in spending based on changing circumstances. Holding cash in retirement portfolios can provide both economic and behavioral benefits. Advisors and coaches play a crucial role in retirement planning by providing accountability and helping individuals understand their blind spots. Regret risk, or the regret of not doing more during retirement, is an often overlooked risk that can impact the fulfillment of the second half of life. The fear of spending money in retirement and the transition from a savings mindset to a spending mindset can hinder individuals from enjoying their retirement and lead to inefficient spending. Longevity risk, or the risk of outliving one's savings, is a significant concern in retirement planning, and there is a need for greater longevity literacy. Guaranteed lifetime income can help address longevity risk and provide individuals with the confidence to spend money on experiences and give during retirement. The retirement smile, where real-time spending falls during the early years of retirement and may increase slightly in later life, challenges the assumption that spending increases with inflation every year. Sound Bites "Retirement is the most expensive purchase most people will ever make." "Retirement is radically changing for everyone, what it means to retire, what it means to keep working, how long you're gonna live, what your activity level is gonna be." "The 4% rule will lead people into a retirement of underspending and regret." "We are not the person that's receiving the advice or coaching, right?" "If we create one of those [retirement plans] that's got a hundred percent success rate, i.e. we're telling you that you're never going to run out of money. That to me is a hundred percent failure on living a fulfilled second half of life." "It's just really, really hard to spend down this pool of assets when you don't know how long you're gonna live, you know what the markets are gonna do and you don't wanna go back to work." Chapters 00:00 Introduction and Background of David Blanchett 03:02 Understanding the Cost of Retirement 08:12 The Changing Nature of Retirement 12:33 Challenging the 4% Rule for Retirement Withdrawals 19:49 The Benefits of Holding Cash in Retirement Portfolios 26:56 The Role of Advisors and Coaches 28:19 The Overlooked Risk of Regret 30:06 Overcoming the Fear of Spending 35:28 Understanding and Addressing Longevity Risk 39:39 The Benefits of Guaranteed Lifetime Income 47:01 The Retirement Smile: Challenging Assumptions
Today on the show, we highlight the 2024 Fidelity Retirement Report and its findings on how Canadians are viewing and preparing for retirement. Host Glen Davidson sits down with Peter Bowen, VP of Tax and Retirement Research and Michelle Munro Director of Tax and Retirement Research, as they break down the perspectives, challenges, and trends of pre-retirees and retirees. Peter notes the survey noted many pre-retirees are delaying retirement - delaying beyond 65 or in some cases not even considering retiring at all. In addition, Michelle points out women view retirement more negatively than men. Peter breaks down the impact of the recent capital gains inclusion rate changes saying it will affect those with second properties like vacation homes, but also those with incorporated businesses. Peter says be sure to connect with your financial planner to figure out the best course of action before the changes come into effect in June of this year. They also stress the importance of having a written financial plan that addresses each of your financial goals - 88 percent of Canadians surveyed say they feel financially prepared for retirement with a written plan compared to 56 percent without one who do not feel prepared. Recorded on May 24, 2024 Today's podcast is brought to you by the 2024 Fidelity Retirement Report. Head to go.fidelity.ca/retirement to receive the report and insights on how you can better prepare for your retirement, whatever that may look like. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics' Advisor Digital Experience Study.
Today on the show, Peter Bowen, VP of Tax and Retirement Research at Fidelity Canada, breaks down the capital gains changes from the recently released 2024 Federal budget. He explains what the tax changes could mean for your clients and potentially their investment and retirement plans. Peter reviews what changed, including how the capital gains inclusion rate increased from one half to two thirds. He says most individuals won't be affected, but these tax changes could affect corporations and trusts plus those with second homes, vacation properties and cottages. Peter also breaks down possible steps and scenarios for those affected by the capital gains changes. Those being small and large business owners, even doctors on the small business side. Should you consider selling your investments within your private corporation, or sell your entire portfolio to trigger the capital gains? Peter says the decision depends on the time value of money and if you want to pay taxes early at a lower rate. Either way, he suggests, to sit down with your financial advisor and figure out a plan well before the June 25th deadline. Recorded on May 1, 2024 Today's podcast is brought to you by the 2024 Fidelity Retirement Report. Head to go.fidelity.ca/retirement to receive the report and insights on how you can better prepare for your retirement, whatever that may look like. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For the third year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2023 Environics' Advisor Digital Experience Study.
Michelle Munro, the Director of Tax and Retirement Research at Fidelity Investments Canada ULC Learn more about your ad choices. Visit megaphone.fm/adchoices
In this episode of the Inspired Money Live Stream Podcast, we explore essential strategies for securing a financially stable retirement. Joined by experts Wade Pfau, Colleen Jaconetti, David Blanchett, and Emily Guy Birken, we navigate a multifaceted approach to retirement income planning. This discussion spans from investment strategies to managing healthcare costs and the role of real estate in retirement portfolios. Navigating Retirement Planning Retirement is a significant phase of life that requires careful planning and strategy. This episode, "Effective Retirement Income Strategies: Securing Your Financial Future," covers comprehensive strategies needed to ensure financial security. Our distinguished guests provide insights and expertise, offering a robust framework for retirement planning.
Dr. Gal Wettstein, a senior research economist at the Center for Retirement Research at Boston College, joins Lisa Dent to explain why most Americans are working well past their retirement age and what factors are contributing to their decision. Dr. Wettstein discusses whether longer life expectancy is a factor. Follow The Lisa Dent Show on […]
Kim Blanton of the Boston College Center for Retirement Research – where she writes the Squared Away blog -- says that Americans wind up falling into some classic psychological traps when it comes time to claim Social security benefits, and often take the money before they need it based on flawed thinking, reducing their retirement benefits for life. She highlights how savers -- even when confronted with numbers showing that their lifetime benefits will be significantly better with a late start, and assuming they have a long life -- instead jump at the chance to get a smaller amount of money so long as they can start receiving it now. Nicholas Marshi, editor at the BDC Reporter, talks about the struggles business development companies had at the end of 2023 and how they have been performing in the new year, with an outlook for what's ahead as the interest rate cycle starts to change. Plus Todd Rosenbluth, head of research at VettaFi makes BlackRock U.S. Equity Factor Rotation his "ETF of the Week," and Ken Applegate, portfolio manager for the Wasatch International Growth and International Select funds talks in the Market Call segment about the promise of foreign small-cap stocks now, after long periods of underperformance for both small-company and overseas investments.
Kim Blanton, writer at the Boston College Center for Retirement Research, calls the search for assisted living "an opaque experience" and notes -- through the story of her mother but also reporting from a hearing before the Senate Committee on Aging from January -- that most people focus more on the "living" part of the issues when they should be paying most attention to the assistance part of the plan. Nick Young, chief experience officer at Money Pickle joins Chuck on The Financial Crunch to discuss robo advisors compared to working with planning pros, Ted Rossman discusses a new BankRate.com survey showing that a growing number of taxpayers plan to boost savings rather than paying down debts with tax refunds this year, and Geoff Garbacz, principal at Quantitative Partners, brings his indicator-driven approach to the Market Call.
#BRNAM #1664 | Autoenrollment and auto escalation in State and Local Government Defined Contribution Plans | Zhikun Liu, Ph.D., CFP, Head of Retirement Research, MissionSquare Research Institute and John Saeli, Managing Vice President, MissionSquare Retirement | #Tunein: broadcastretirementnetwork.com #JustTheFacts | For more information visit https://research.missionsq.org/retirement
Defined contribution plans have been instrumental in helping people save for retirement. However, these plans often fail to protect individuals against longevity risk. Incorporating lifetime income solutions like annuities can help people prevent outliving their savings during retirement. In this episode, Jack talks with David Blanchett, Managing Director, Portfolio Manager, and Head of Retirement Research at PGIM DC Solutions. In this role, David develops solutions to help improve retirement outcomes for investors with a specific focus on defined contribution plans. He is also responsible for the portfolio management of the PGIM Target Date Funds. Before joining PGIM, David was the Head of Retirement Research for Morningstar Investment Management LLC and the Director of Consulting and Investment Research for the Retirement Plan Consulting Group at Unified Trust Company. David joins Jack to discuss various aspects of retirement planning and how the industry can operate better to improve retirement outcomes for clients, participants, and advisors. David shares his insights on three key areas: improving defined contribution plans, enhancing financial plans, and making retirement easier through lifetime income solutions. He emphasizes the importance of access to retirement savings plans, the need for comprehensive financial planning, and the role of annuities in providing longevity protection. Key Takeaways [01:55] - David's thoughts on improving defined contribution plans for retirees. [03:03] - David's role at PGIM DC Solutions. [04:04] - How to improve contribution plans and in-plan retirement solutions. [08:29] - The need for a financial plan and the different avenues for receiving advice. [10:39] - The confluence of digital and human advice. [13:17] - The shift from investment-focused planning to holistic planning. [15:56] - Understanding annuities and their potential benefits for clients. [20:50] - Overcoming operational roadblocks to utilizing annuities. [22:11] - David's key takeaways. Quotes [09:48] - "If you can't get advice and you do it yourself, you'll make mistakes. These can be very expensive mistakes. So, giving individuals access to advice the way they want will have a huge long-term success." ~ David Blanchett [11:34] - "The fundamental value of an advisor is not the investments. It's more of the behavioral financial planning coach." ~ David Blanchett [19:16] - "There are very good annuities out there your clients could use. You have to learn how they work and how to identify them. Doing that can create better client outcomes than just focusing on the portfolio alone." ~ David Blanchett Links David Blanchett on LinkedIn David Blanchett on Twitter PGIM DC Solutions Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook
Does the 4% rule still work? In this episode, we welcome three esteemed experts to counter a recent controversial claim made on the Dave Ramsey Show regarding the validity of the 4% rule in retirement planning. Joining us is David Blanchett; the Managing Director and Head of Retirement Research for PGIM DC Solutions, Michael Finke; a distinguished professor of wealth management at the American College of Financial Services, and Wade Pfau; Director of Retirement Research at McLean Asset Management. In our conversation, these experts shed light on the intricate world of retirement income planning, dispelling misconceptions and advocating for a more nuanced approach. Discover the flaws in Ramsey's assertion and explore the dynamics of sequence of return risk in retirement planning. Unpack the complexities of investing in bonds for retirees and the evolving risk profiles of stocks over varying investment horizons. We also uncover the significance of variable spending rates, debunk the fallacies behind aggressive withdrawal suggestions, a safety-first approach in retirement finance, and much more. Tune in for an enlightening journey through retirement planning and equip yourself with expert insights to pave a secure path for your financial future! Key Points From This Episode: The motivation for addressing Dave Ramsey's 8% retirement spending rate claim. (0:07:26) Unpack the holes in Dave Ramsey's 8% claim. (0:09:48) How important sequence of return risk is for retirement planning. (0:15:08) Discover if investing in bonds is risky for a retiree. (0:17:57) Learn how the risk of holding stocks changes for longer versus shorter investment horizons. (0:21:55) Subjective risk tolerance and how it is influenced by market fluctuations. (0:24:04) Going all-in on stocks compared to strategies that involve both bonds and stocks in your investment portfolio. (0:30:10) They share their thoughts on Dave Ramsey's notion that the 4% rule is depressing. (0:35:23) Overview of the issues and misconceptions surrounding the 4% rule. (0:37:28) Alternative approaches to spending money from a riskier investment portfolio. (0:40:06) Dynamic spending strategies to improve the initial withdrawal rate from investments. (0:43:01) Explore other financial products, like annuities, for retirement planning. (0:50:05) Mindset hurdles and adjusting expectations for financial planning. (0:58:46) Dissect the concept of delaying government pensions and its impact on investors. (1:02:24) Insights into the pros and cons of delaying social security for higher-earning women. (1:07:52) Final words of wisdom the guests have for listeners. (1:09:30) Links From Today's Episode: Michael Finke — http://www.michaelfinke.com/home.html Michael Finke on X — https://twitter.com/finkeonfinance Michael Finke on Facebook — https://www.facebook.com/mfinke The American College of Financial Services — https://www.theamericancollege.edu/ David Blanchett — https://www.davidmblanchett.com/ David Blanchett on X — https://twitter.com/davidmblanchett David Blanchett on LinkedIn — https://www.linkedin.com/in/david-blanchett-b0b0aa2/ PGIM DC Solutions — https://www.pgim.com/dc-solutions/ Wealth, Managed Podcast — https://www.theamericancollege.edu/knowledge-hub/wealth-managed-podcast Wade Pfau — https://retirementresearcher.com/wade-pfau/ Wade Pfau on LinkedIn — https://www.linkedin.com/in/wpfau/ Wade Pfau on X — https://twitter.com/WadePfau McLean Asset Management — https://www.mcleanam.com/ Retire With Style Podcast — https://risaprofile.com/retire-with-style/ Alliance for Lifetime Income — https://www.protectedincome.org/ Episode 89: Wade Pfau: Safety-First: A Sensible Approach to Retirement Income Planning — https://rationalreminder.ca/podcast/89 Episode 137: David Blanchett: Researching Retirement — https://rationalreminder.ca/podcast/137 Episode 254: David Blanchett: Regret Optimized Portfolios and Optimal Retirement Income — https://rationalreminder.ca/podcast/254 The Ramsey Show — https://www.youtube.com/@TheRamseyShowEpisodes The Ramsey Show: You Can't Win With Money if You Don't Know Where Your Money Is — https://www.youtube.com/watch?v=Xg4Z8EQY3Ao ‘Supernerds Unite Against Dave Ramsey's 8% Safe Withdrawal Rate Guidance' — https://www.thinkadvisor.com/2023/11/13/supernerds-unite-against-dave-ramseys-8-safe-withdrawal-rate-guidance/ RISA profiler — risaprofile.com/rationalreminder ‘Quasi-empirical bootstrap sampling paper' — Jason Fichtner — https://bipartisanpolicy.org/person/jason-j-fichtner/ ‘The Value of Delayed Social Security Claiming for Higher-Earning Women' — https://dx.doi.org/10.2139/ssrn.3849653 Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on X — https://twitter.com/RationalRemind Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin on X — https://twitter.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on X — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
Have you been paying attention to the financial news? Most of it is covering all the craziness around stocks. GameStop, AMC, and others went way up only to go way back down. These days, everyone has a Robinhood account and is trading stocks on margin. Plus, the COVID pandemic has added all sorts of volatility to the stock market. In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to David Blanchett about investing during the craziness of a wild market. David is the Head of Retirement Research for Morningstar's Investment Management Group and an Adjunct Professor of Wealth Management at The American College. Topics Discussed: COVID: How the pandemic and being isolated at home has affected investing • Day Trading: For better or worse, people want to invest in, buy individual stocks • Today's Market: Everyone wants to buy and trade to make money, not possible • False Confidence: How long until the bubble bursts because it will, eventually • Winners and Losers: Problem with day traders is they report one, not the other • Can you beat the stock market? First, learn from mistakes made from investing • Smarter than...? Good investing is boring, advisors don't and can't time market • Utility Grievance: How much do you like something and quantify preferences? • Weigh Outcomes: Downside of doing it yourself is much worse than upside • Short Selling: Put on your blinders and don't follow what everybody else does LINKS: www.WrenneFinancial.com
Our guest on the podcast today is syndicated personal finance columnist and author Scott Burns. Burns began his career as a newspaper columnist in The Boston Herald in 1977, where he was also the financial editor. In 1985, he joined the staff of The Dallas Morning News, where his column became one of the most widely read features in the paper. Along the way, he created what he called Couch Potato Investing, which involves buying and holding a broadly diversified portfolio of low-cost index mutual funds. Burns has authored or co-authored several books, including The Coming Generational Storm and Spend ‘Til the End, both of which he co-authored with Laurence Kotlikoff. He received bachelor's degrees in humanities and biology from the Massachusetts Institute of Technology.BackgroundBioCouch Potato InvestingThe Coming Generational Storm: What You Need to Know About America's Economic Future, by Laurence J. Kotlikoff and Scott BurnsSpend ‘Til the End: Raising Your Living Standard in Today's Economy and When You Retire, by Laurence J. Kotlikoff and Scott BurnsBonds and Retirement“Do Bonds Have a Future?” by Scott Burns, scottburns.com, May 14, 2022.“Scott Burns: These Four Pillars of Investing Stand the Test of Time,” by Scott Burns, The Dallas Morning News, July 20, 2023.Allan Roth“TIPS Ladder Funds Don't Yet Exist, but They Should,” by John Rekenthaler, Morningstar.com, June 16, 2023.“Is America Hitting Peak Consumption?” by Scott Burns, scottburns.com, Oct. 12, 2023.“The Pudding Report, 2022,” by Scott Burns, scottburns.com, Jan. 15, 2023.“Examining the Tax Deferral Gift Horse,” by Scott Burns, scottburns.com, April 8, 2023.Investing in Retirement“What's a Safe Withdrawal Rate Today?” by Christine Benz, Jeffrey Ptak, and John Rekenthaler, Morningstar.com, Dec. 13, 2022.“The 4 Percent Rule Is Not Safe in a Low-Yield World,” by Michael Finke, Wade Pfau, and David Blanchett, SSRN, Jan. 15, 2013.“The High Cost of Immortality,” by Scott Burns, scottburns.com, Dec. 18, 2022.“Making a Plan to Retire Now, Not Later,” by Scott Burns, scottburns.com, April 25, 2022.“Is Homeownership Bigger Than It Should Be?” by Scott Burns, scottburns.com, Nov. 14, 2020.“Is Downsizing in Retirement Actually Possible?” by Scott Burns, scottburns.com, Nov. 21, 2020.OtherPortfolio VisualizerCenter for Retirement Research at Boston CollegeEmployee Benefit Research InstituteKaiser Family Foundation
On this week's episode, Roger and Elias talk about back to school financial stress. Plus a look at ways to hit the reset button on your financial life and get on track for your goals. Follow Us on Facebook.com/BTWealthShow Subscribe to the Podcast https://linktr.ee/BehindTheWealth Hosted By: Roger Abel Guest Host: Elias Randel Produced By: Molly Nordlocken Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. The opinions voiced in this show are for general information purposes only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, consult with your attorney, accountant, and financial or tax advisor prior to investing. All performance referenced is historical and is not a guarantee of future results. All indices are unmanaged and cannot be invested into directly. Premier Investments of Iowa, Inc. and LPL Financial do not provide tax advice, please consult your tax professional. Dollar cost averaging involves continuous investment in securities regardless of fluctuation in price levels of such securities. An investor should consider their ability to continue purchasing through fluctuating price levels. Such a plan does not assure profit and does not protect against loss. Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to effect some of the strategies. Investing involves risks including possible loss of principal. Consult your tax professional about eligibility to Roth and Traditional IRA contributions. Contributions and earnings in a Roth IRA can be withdrawn without paying taxes and penalties if the account owner is at least 59 ½ and has held their Roth IRA for at least five years. Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of the conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult your tax advisor before investing. Data Sources: Morningstar Stanford Graduate School of Business Center for Retirement Research at Boston College NerdWallet Proceedings of the National Academy of Science Journal Harris Poll
On this week's episode, Roger and Elias talk about whether AI technology for photo filters could make young people better investors. Plus a look at what financial habits could be a relationship red flag. Follow Us on Facebook.com/BTWealthShow Subscribe to the Podcast https://linktr.ee/BehindTheWealth Hosted By: Roger Abel Guest Host: Elias Randel Produced By: Molly Nordlocken Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. The opinions voiced in this show are for general information purposes only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, consult with your attorney, accountant, and financial or tax advisor prior to investing. All performance referenced is historical and is not a guarantee of future results. All indices are unmanaged and cannot be invested into directly. Premier Investments of Iowa, Inc. and LPL Financial do not provide tax advice, please consult your tax professional. Dollar cost averaging involves continuous investment in securities regardless of fluctuation in price levels of such securities. An investor should consider their ability to continue purchasing through fluctuating price levels. Such a plan does not assure profit and does not protect against loss. Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to effect some of the strategies. Investing involves risks including possible loss of principal. Consult your tax professional about eligibility to Roth and Traditional IRA contributions. Contributions and earnings in a Roth IRA can be withdrawn without paying taxes and penalties if the account owner is at least 59 ½ and has held their Roth IRA for at least five years. Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of the conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult your tax advisor before investing. Data Sources: Morningstar Stanford Graduate School of Business Center for Retirement Research at Boston College NerdWallet Proceedings of the National Academy of Science Journal Harris Poll
Roger and Elias are back for part 2 of answering listener questions. They discuss Should you do a Roth 401(k)? When is a good time for a Roth Conversion? How much life insurance should you have? Can you multitask your financial goals? How to deal with overspending on hobbies. Follow Us on Facebook.com/BTWealthShow Subscribe to the Podcast https://linktr.ee/BehindTheWealth Hosted By: Roger Abel Guest Host: Elias Randel Produced By: Molly Nordlocken Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. The opinions voiced in this show are for general information purposes only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, consult with your attorney, accountant, and financial or tax advisor prior to investing. All performance referenced is historical and is not a guarantee of future results. All indices are unmanaged and cannot be invested into directly. Premier Investments of Iowa, Inc. and LPL Financial do not provide tax advice, please consult your tax professional. Dollar cost averaging involves continuous investment in securities regardless of fluctuation in price levels of such securities. An investor should consider their ability to continue purchasing through fluctuating price levels. Such a plan does not assure profit and does not protect against loss. Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to effect some of the strategies. Investing involves risks including possible loss of principal. Consult your tax professional about eligibility to Roth and Traditional IRA contributions. Contributions and earnings in a Roth IRA can be withdrawn without paying taxes and penalties if the account owner is at least 59 ½ and has held their Roth IRA for at least five years. Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of the conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult your tax advisor before investing. Data Sources: Morningstar Stanford Graduate School of Business Center for Retirement Research at Boston College NerdWallet Proceedings of the National Academy of Science Journal Harris Poll
On this week's episode, Roger is joined by Jonas Everett to discuss the age old question: "does money buy happiness?" Plus they discuss anchoring bias and the best financial advice from successful people. Follow Us on Facebook.com/BTWealthShow Subscribe to the Podcast https://linktr.ee/BehindTheWealth Hosted By: Roger Abel Guest Host: Jonas Everett Produced By: Molly Nordlocken Securities and advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. The opinions voiced in this show are for general information purposes only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, consult with your attorney, accountant, and financial or tax advisor prior to investing. All performance referenced is historical and is not a guarantee of future results. All indices are unmanaged and cannot be invested into directly. Premier Investments of Iowa, Inc. and LPL Financial do not provide tax advice, please consult your tax professional. Dollar cost averaging involves continuous investment in securities regardless of fluctuation in price levels of such securities. An investor should consider their ability to continue purchasing through fluctuating price levels. Such a plan does not assure profit and does not protect against loss. Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to effect some of the strategies. Investing involves risks including possible loss of principal. Consult your tax professional about eligibility to Roth and Traditional IRA contributions. Contributions and earnings in a Roth IRA can be withdrawn without paying taxes and penalties if the account owner is at least 59 ½ and has held their Roth IRA for at least five years. Prior to investing in a 529 Plan investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state's qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult your tax advisor before investing. Data Sources: Morningstar Center for Retirement Research at Boston College NerdWallet Proceedings of the National Academy of Science Journal Harris Poll
Today we’re talking about the economics of higher education in the United States. Though the average cost of going to college nearly tripled from 1980 to 2021, the net cost of attending both public and private institutions has started to come down. Martin Kurzweil, vice president of educational transformation at the nonprofit Ithaka S+R, traces that back to a decline in enrollment. “Demographers will tell us that the generations of young people coming through after the baby boom, the cohort sizes, have decreased over time, and higher education is looking at what’s come to be known as a demographic cliff,” Kurzweil said. On the show today: Kurzweil explains how college became unaffordable for many Americans, why costs have started to come down, and how a shrinking population of typical college-age students will transform higher education in the U.S. Then, we’ll get into the repercussions of the Great Recession on the retirement wealth of younger baby boomers. And, are credit rating firms underestimating the climate crisis? Later, listeners share how they deal with news fatigue. Plus, one listener explains what she got wrong about getting a college degree. Here’s everything we talked about today: “College prices aren't skyrocketing—but they're still too high for some” from The Brookings Institution “Forget that $90,000 sticker price: College costs are actually going down” from The Hill “Trends in College Pricing and Student Aid 2022” (PDF) from College Board “A Sign That Tuition Is Too High: Some Colleges Are Slashing It in Half” from The New York Times “The incredible shrinking future of college” from Vox “Ratings Firms Struggle With Climate Risk in $133 Trillion Market” from Bloomberg “Yellen Says Extreme Weather Exposes Gaps in Insurance Protection” from Insurance Journal “What Happened to Late Boomers' Retirement Wealth?” from the Center for Retirement Research at Boston College We want to hear your answer to the Make Me Smart question. You can reach us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
Today we’re talking about the economics of higher education in the United States. Though the average cost of going to college nearly tripled from 1980 to 2021, the net cost of attending both public and private institutions has started to come down. Martin Kurzweil, vice president of educational transformation at the nonprofit Ithaka S+R, traces that back to a decline in enrollment. “Demographers will tell us that the generations of young people coming through after the baby boom, the cohort sizes, have decreased over time, and higher education is looking at what’s come to be known as a demographic cliff,” Kurzweil said. On the show today: Kurzweil explains how college became unaffordable for many Americans, why costs have started to come down, and how a shrinking population of typical college-age students will transform higher education in the U.S. Then, we’ll get into the repercussions of the Great Recession on the retirement wealth of younger baby boomers. And, are credit rating firms underestimating the climate crisis? Later, listeners share how they deal with news fatigue. Plus, one listener explains what she got wrong about getting a college degree. Here’s everything we talked about today: “College prices aren't skyrocketing—but they're still too high for some” from The Brookings Institution “Forget that $90,000 sticker price: College costs are actually going down” from The Hill “Trends in College Pricing and Student Aid 2022” (PDF) from College Board “A Sign That Tuition Is Too High: Some Colleges Are Slashing It in Half” from The New York Times “The incredible shrinking future of college” from Vox “Ratings Firms Struggle With Climate Risk in $133 Trillion Market” from Bloomberg “Yellen Says Extreme Weather Exposes Gaps in Insurance Protection” from Insurance Journal “What Happened to Late Boomers' Retirement Wealth?” from the Center for Retirement Research at Boston College We want to hear your answer to the Make Me Smart question. You can reach us at makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.
Description: In this episode we dive into a recent eye-opening report from the Center for Retirement Research. The data reveals a surprising disconnect: while a significant number of pre-retirees remain nonchalant about their retirement, their current savings are far from adequate to support their post-retirement lifestyle. As anxiety and fear disorders are soaring to all-time highs, it's perplexing that the future uncertainty of retirement isn't triggering more concern. Could this be a symptom of avoidance? Join us as we unpack these findings and offer actionable insights to help you on the road to a worry-free retirement If you're thinking "I love the Big Picture Retirement podcast” please consider rating and reviewing this show! This helps me support more people -- just like you -- move toward a confident retirement. Just scroll down to the “ratings and reviews” section, tap to rate with five stars, and select “Write a Review.” Then be sure to let us know what you loved most about the episode! Also, if you haven't done so already, follow the podcast. We're adding new content every week and if you're not following there's a good chance you'll miss out. Follow now! Want to ask Devin or John your question? Just visit https://www.bigpictureretirement.com/ and look for the tab on the right side that says “Send A Voicemail.” Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms. Contact Devin's team at https://www.carrolladvisory.com/ Contact John's team at https://www.rossandshoalmire.com/
We started this program with a brief announcement. Starting in August, Craig Swagler will become the new General Manager and President of Your Public Radio. He joins our organization after 22 years at CBS Audio and Radio. Following this brief announcement, Tom begins a conversation about the future of Social Security and if it is running out of money. Can seniors count on the promise that has been made to them over the next decades? The funding formula for Social Security was devised during the Great Depression and did not anticipate the dual problems of an increase in beneficiaries while seeing a decrease of payroll taxes to support retirees. What can be done to right the ship, which is expected to run into very turbulent waters in as little as 10 or 11 years. Joining Tom to talk about it is Dr. Geoffrey Sanzenbacher, an economist on the faculty of Boston College, and a Research Fellow at the Center for Retirement Research at BC. Peter Coy covered financial issues for more than four decades. He writes about economics, business and finance for the Opinion section of the New York Times.See omnystudio.com/listener for privacy information.
#BRNAM #1333 | Why Do Late Boomers Have So Little Wealth? | Angie Chen, Center for Retirement Research at Boston College | #Tunein: broadcastretirementnetwork.com or your #favorite #streaming / #podcast / #smarttv / #localtv / #digital #platform
Would you like to maintain your pre-retirement spending levels and standard of living after you've retired? Some, however, intend to spend more heavily in their early retirement years, believing they will spend less as they age. These spending considerations are an important part of your retirement planning, and there is often a disparity between spending intentions and spending reality. Today, John Walker, Regional Vice President, Mercer Advisors, discusses retirement spending patterns and how they relate to good planning. He also discusses a recent Boston College Center for Retirement Research study that looks at how retirees intend to spend vs. how they actually spend what they've saved. Listening Time: 20 minutes Mercer-Cordasco Disclosure Information Visit Our Website Join Our Email List Additional Mercer Advisors Disclosure Cordasco Financial Network is a tradename. All services provided by Cordasco Financial Network investment professionals are provided in their individual capacities as investment adviser representatives of Mercer Global Advisors Inc. (“Mercer Advisors”), an SEC-registered investment adviser principally located in Denver, Colorado, with various branch offices throughout the United States doing business under different tradenames, including Cordasco Financial Network. Mercer Advisors is not a law firm and does not provide legal advice to clients. All estate planning document preparation and other legal advice are provided through Advanced Services Law Group, Inc.
Clark shares findings from a new study about today's working households and their outlook for retirement. Why are 28% of high income earners struggling in retirement? How you can resolve to build your reserve. Also today, Clark is all about FREE and doesn't much mind the tradeoffs – and more people are receptive to saving money now. Enter TextNow.com - a FREE cell phone service that may work for you. Retirement Outlook: Segment 1 Ask Clark: Segment 2 FREE Cell Phone Service : Segment 3 Ask Clark: Segment 4 Mentioned on the show Almost Half of Today's Working Households Are at Risk of a Lower Standard of Living in Retirement National Retirement Risk Index - Center for Retirement Research at Boston College Bluebird - Loaded with Benefits. Light on Fees. Credit Karma Review: Free Credit Score and More at Your Fingertips Credit Score Guide Target Date Funds: Clark's Favorite Retirement Investment Clark.com - TextNow: How To Get Free Texting and Calling 10 Ways To Save on Prescription Drugs Protect Your Identity Archives - Clark Howard Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices
There are many different objective functions you can use when building optimal portfolios. The majority of these approaches define risk from the perspective of variability or bad outcomes, but positive returns could be viewed as “risky” for those that don't experience them, which is another way of saying that people experience regret (or FOMO, for our trendier listeners). Today, we are joined by David Blanchett, a return guest and the Managing Director and Head of Retirement Research for PGIM DC Solutions, the global investment management arm of Prudential Financial. He is also an Adjunct Professor of Wealth Management at The American College of Financial Services and a Research Fellow for the Alliance for Lifetime Income. David returns to the podcast for an articulate discussion about regret in portfolio construction, what drives it, and how financial advisors can cater to it. We then delve into how David is redefining optimal retirement income strategies, looking at retirement tools, retirement planning, compensation models in the industry, risk exposures, and portfolios. We also get a high-level overview of some of the fascinating work that David has done on home-country bias, plus so much more. For highly technical content presented in an accessible and practical way by one of the brightest minds in retirement planning, be sure to tune in today! Key Points From This Episode: • Differences between risk aversion and regret aversion. (0:03:57) • The distinctly human element that drives “investment FOMO.” (0:06:34) • Insight into how David models regret in his research. (0:09:06) • The asset pricing implications of approaching portfolio optimization this way. (0:12:11) • Tips for deciding on what the regret benchmark should be. (0:13:19) • How a portfolio optimization routine based on regret affects asset allocation. (0:14:08) • Ways that the effect of optimizing over regret changes depending on risk aversion. (0:16:55) • Other asset characteristics that might drive optimal allocation to regret assets. (0:18:04) • Why moving away from self-direction is the best thing to happen to 401(k) plans. (0:20:53) • How financial advisors should cater to investors interested in speculative assets. (0:24:00) • Unpacking some of the social and story-driven sources of regret. (0:29:03) • Downsides to modelling retirement liability as a static inflation-adjusted amount. (0:32:00) • Why it's important to understand the composition of retiree spending and saving. (0:33:57) • David's research into dynamic spending rules for retirement planning. (0:42:06) • Some of the key pitfalls of existing financial planning tools and solutions. (0:44:38) • Ways that safe withdrawal rates change when you incorporate dynamic spending. (0:51:10) • How advisor channel affects passive fund choice and how clients should respond. (0:57:56) • Insight into David's research on foreign revenue and home-country bias. (1:02:27) © 2023 Rational Reminder Podcast 1 Links From Today's Episode: David Blanchett — https://www.davidmblanchett.com/ David Blanchett on Twitter — https://twitter.com/davidmblanchett David Blanchett on LinkedIn — https://www.linkedin.com/in/david-blanchett-b0b0aa2/ © 2023 Rational Reminder Podcast 2 RRP 254 Show Notes PGIM — https://www.pgim.com/ E137: David Blanchett: Researching Retirement — https://rationalreminder.ca/podcast/137 ‘Regret and Optimal Portfolio Allocations' — https://www.pm-research.com/content/iijpormgmt/ early/2023/02/01/jpm20231464 ‘Keep Keeping Your Distance: An Updated Look at 401(k) Participant Behaviors During the COVID-19 Crisis' — https://www.morningstar.com/articles/1032011/keep-keeping-your- distance-an-updated-look-at-401k-participant-behaviors-during-the-covid-19-crisis ‘Save more with less: The impact of employer defaults and match rates on retirement saving' — https://onlinelibrary.wiley.com/doi/abs/10.1002/cfp2.1152 ‘Redefining the Optimal Retirement Income Strategy' — https://www.tandfonline.com/doi/full/ 10.1080/0015198X.2022.2129947 ‘Focusing on Both Sides of the Balance Sheet: The Benefit of Liability Optimization' — https:// web.p.ebscohost.com/abstract ‘The Problems with Monte Carlo are in Your Mind' — https://www.advisorperspectives.com/ articles/2023/04/24/the-problems-with-monte-carlo-are-in-your-mind ‘Does Advisor Channel Influence Passive Fund Choice?' — https:// www.financialplanningassociation.org/learning/publications/journal/APR22-does-advisor- channel-influence-passive-fund-choice-OPEN ‘Foreign Revenue: A New World of Risk Exposures' — https://www.pm-research.com/content/ iijpormgmt/47/6/175 Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder- podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/ Rational Reminder on YouTube — https://www.youtube.com/channel/ Rational Reminder Email — info@rationalreminder.ca Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/ Benjamin on Twitter — https://twitter.com/benjaminwfelix Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/ Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/ Cameron on Twitter — https://twitter.com/CameronPassmore Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
Episode #242 // The question we used to ask only occasionally has now become more frequent… “how old is too old?” While most countries still regard the retirement age for the average citizen to be somewhere in their early to mid-60s, one of the big societal trends in wealthier countries is the aging population.As the population ages, many people will choose to work for longer, either to satisfy their need for purpose, or through financial necessity. The bottom line for leaders is that you're going to be in a position where you have to lead older workers, and integrate them into a team culture that spans at least three generations.In this episode, I explore how to get the best from older workers, not to be put off by the challenge of leading them. I present some of the data on how population and demographics are changing across the world, I examine the strategic potential for value differentiation, and I give you my Six Tips for Getting the Most From Older Workers (which will be available as a free PDF downloadable).Source Material: Article: Centre for Retirement Research at BCHow Does Delayed Retirement Affect Mortality and Health?Research: Our World in DataMedian AgeResearch: Our World in DataAge StructureThe EconomistThe Age of the Grandparent Has ArrivedWikipediaRetirement Age (by Country)————————You can connect with me at:Website: https://www.yourceomentor.comFacebook: https://www.facebook.com/yourceomentor Instagram: https://www.instagram.com/yourceomentorLinkedin: https://www.linkedin.com/company/yourceomentorYoutube: https://www.youtube.com/@YourCEOMentor Hosted on Acast. See acast.com/privacy for more information.
This week's theme on the Retirement Quick Tips Podcast is: the single biggest threat to your retirement Today, I'm talking about a recent study that highlights the disconnect between what most people think is their biggest threat in retirement vs. their actual biggest threat. A 2022 study from the Center for Retirement Research at Boston College found that the three main sources of objective risk, from highest to lowest, are longevity, health, and market risk, In contrast, the subjective rankings show that market risk tops the list, which reflects retirees' exaggerated assessments of market volatility. Perceived longevity risk and health risk rank lower, because retirees are pessimistic about their survival probabilities and often underestimate their health costs in late life. Source: https://crr.bc.edu/wp-content/uploads/2022/06/IB_22-10.pdf In short, retirees are focusing on the wrong risks and not giving enough weight to longevity risk, which is the risk of living longer than expected and exhausting one's resources. “This may distort the decisions people make, including the age at which they decide to retire, and how they decide to spend and invest their money once they are in retirement, according to Wenliang Hou, who authored the research.” Source: https://www.cnbc.com/2022/08/05/retirees-may-be-focusing-on-wrong-risks-to-their-financial-security.html#:~:text=Instead%2C%20longevity%20%E2%80%94%20the%20prospect%20retirees,and%20perceived%20risks%20for%20retirees That's it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast. ---------- >>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP >>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs >>> Visit the podcast page: https://truenorthra.com/podcast/ ---------- Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance
On today's show, we are joined by David Blanchett, Managing Director and Head of Retirement Research at Prudential to discuss how advisors should think about incorporating annuities, what annuities make sense for clients, income strategies within 401Ks, and much more! Find complete shownotes on our blogs... Ben Carlson's A Wealth of Common Sense Michael Batnick's The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation. Annuities are issued by The Prudential Insurance Company of America, Newark NJ, and its affiliates. You should carefully consider your financial needs before investing in annuity products and benefits. (Wealthcast Media, an affiliate of Ritholtz Wealth Management, received compensation from the sponsor of this advertisement. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information.)
It's common for people to relocate or downsize when they get older, but new research shows that age is not working in their favor when it comes to getting a mortgage. We'll get into it. Also, Tesla workers in Buffalo launched a campaign to unionize last week. Now, some leaders of the drive are getting fired. Plus, guest host Samantha Fields tells us why the early warm weather in the Northeast is sort of creeping her out. And, an owl who escaped from the Central Park Zoo takes on the big city! Here’s everything we talked about today: “It can be harder for seniors to get mortgages, research shows” from Marketplace “Are Older Mortgage Applicants More Likely to Be Rejected?” from the Center for Retirement Research “January 2023 warmest on record for New York City” from Yahoo! “‘The climate I lived in as a kid is long gone': Climate change is stealing New England's winters” from The Boston Globe “Tesla Fired Buffalo Workers Seeking to Organize, Union Says” from The New York Times “Hobby Club's Missing Balloon Feared Shot Down By USAF” from Aviation Week Network “Flaco the Owl Spreads His Wings and Learns to Survive in Central Park” from The New York Times “Daylight saving time 2023: Is it time to change your clocks again?” from USA Today Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. PT 6:30 p.m. ET. We'll have news, drinks, a game and more.
It's common for people to relocate or downsize when they get older, but new research shows that age is not working in their favor when it comes to getting a mortgage. We'll get into it. Also, Tesla workers in Buffalo launched a campaign to unionize last week. Now, some leaders of the drive are getting fired. Plus, guest host Samantha Fields tells us why the early warm weather in the Northeast is sort of creeping her out. And, an owl who escaped from the Central Park Zoo takes on the big city! Here’s everything we talked about today: “It can be harder for seniors to get mortgages, research shows” from Marketplace “Are Older Mortgage Applicants More Likely to Be Rejected?” from the Center for Retirement Research “January 2023 warmest on record for New York City” from Yahoo! “‘The climate I lived in as a kid is long gone': Climate change is stealing New England's winters” from The Boston Globe “Tesla Fired Buffalo Workers Seeking to Organize, Union Says” from The New York Times “Hobby Club's Missing Balloon Feared Shot Down By USAF” from Aviation Week Network “Flaco the Owl Spreads His Wings and Learns to Survive in Central Park” from The New York Times “Daylight saving time 2023: Is it time to change your clocks again?” from USA Today Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. PT 6:30 p.m. ET. We'll have news, drinks, a game and more.
In part 2 of our 3-part retirement mini-series, Anne Ackerley, Head of BlackRock's Retirement Group moderates a live panel at the recent BlackRock Retirement Savings Summit, speaking to three leaders who are actively working to bridge the gender and race gap with regard to retirement savings.Source: Mercer 2022 “Stepping Up For Equity”Source: Hou, Wenliang, “Social Security is a Great Equalizer.” Center for Retirement Research at Boston College. January 2020;Source: ICI Global Retirement Report Q2 2022Source: Federal Reserve Economic Research Report Sep 28th 2020 Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer FinancesSource: AARP Payroll Deduction Retirement Programs Build Economic Security, July 2022Source: Aspen Institute Blog Oct 11th 2022 “We Can Advance Economic Equity Through Automatic Enrollment for Emergency Savings” Tim Shaw, Jason EwasSource: Ariel/Hewitt Study 2007 “A Study of 401(k) Savings Disparities Across Racial And Ethnic Groups”Source: United States Government Accountability Report to The Special Committee on Ageing, March 2019 “Retirement Savings”This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. 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Have you been paying attention to the financial news? Most of it is covering all the craziness around stocks. GameStop, AMC, and others went way up only to go way back down. These days, everyone has a Robinhood account and is trading stocks on margin. Plus, the COVID pandemic has added all sorts of volatility to the stock market. In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks to David Blanchett about investing during the craziness of a wild market. David is the Head of Retirement Research for Morningstar's Investment Management Group and an Adjunct Professor of Wealth Management at The American College. Topics Discussed: COVID: How the pandemic and being isolated at home has affected investing • Day Trading: For better or worse, people want to invest in, buy individual stocks • Today's Market: Everyone wants to buy and trade to make money, not possible • False Confidence: How long until the bubble bursts because it will, eventually • Winners and Losers: Problem with day traders is they report one, not the other • Can you beat the stock market? First, learn from mistakes made from investing • Smarter than...? Good investing is boring, advisors don't and can't time market • Utility Grievance: How much do you like something and quantify preferences? • Weigh Outcomes: Downside of doing it yourself is much worse than upside • Short Selling: Put on your blinders and don't follow what everybody else does LINKS: www.WrenneFinancial.com Just as the right advice helps you thrive financially. The right support team allows you to excel professionally. Weatherby Healthcare's locums experts will match you with the best jobs, prepare you for success and provide 24/7 support. https://weatherbyhealthcare.com/
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