Wade Pfau, Ph.D., CFA, RICP®
Many receive long-term care at their homes or at community centers or adult daycare centers. Institutionalized living is not always required, and proper long-term care planning may allow one to remain at home longer than otherwise possible. For many, staying at home will be preferable during the transition when more long-term care assistance starts to…
Read MoreMost of the research about retirement income planning focuses on two of the three major retirement risks: investment, or sequence, risk, and longevity risk. The question to be answered is how well does a predetermined spending plan work in the face of market volatility and unknown longevity? The third major risk, which receives less coverage,…
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Originally published in Forbes. Income annuities come in a variety of shapes and sizes. Knowing which makes the most sense for your situation can be overwhelming. In this article, I will explore how income annuities work and what options are available. When do income payments start? Annuities can be either immediate or deferred. An immediate…
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Retirement income planning has emerged as a distinct field in the financial services profession. But because it is still relatively new, the best approach for building a retirement income plan remains elusive. There are two fundamentally different philosophies for retirement income planning, which I call probability-based and safety-first. Those philosophies diverge on the critical issue…
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