Applying a Structured Approach to Assessing Retirement Income Preferences
Presented by Wade Pfau, PhD, CFA®, RICP
Professor of Retirement Income, The American College of Financial Services
Session date and time May 2, 2023 1:45 - 2:45 p.m.
As the baby boomers reach retirement, advisors must solve new problems for clients who aim to sustain their lifestyle over an unknown horizon. Multiple retirement income strategies have emerged, and it is hard for retirees to identify which strategies match their personal style. This session is based on research that identifies and validates a set of scorable retirement income factors to define preferences for an overall retirement income style. It describes a workable retirement model by showing how the factors connect to four main retirement income strategies: systematic withdrawals with total return investing, risk wrap with deferred annuities, protected income with immediate annuities and time segmentation. Approaching retirement income agnostically and matching retirement income strategies based on an individual’s personal retirement income style may lead to improved outcomes for retirees.
ACE Academy 2023
Speaker Bio
Wade Pfau, PhD, CFA®, RICP Professor of Retirement Income, The American College of Financial Services
Wade D. Pfau is the founder of Retirement Researcher, an educational resource for individuals and financial advisors on topics related to retirement income planning. He is a co-founder of the Retirement Income Style Awareness tool and a co-host of the “Retire with Style” podcast. He also serves as a principal and the director of retirement research for McLean Asset Management. He also serves as a Research Fellow with the Alliance for Lifetime Income and Retirement Income Institute. He is a professor of practice at the American College of Financial Services and past director of the Retirement Income Certified Professional® (RICP®) designation program. He holds a doctorate in economics from Princeton University and has published more than 60 peer-reviewed research articles in a wide variety of academic and practitioner journals. His newest book is “Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success.”
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