Retirement planning doesn’t have to be complicated. You don’t need a degree in finance and you don’t have to read a bunch of books to understand the important action steps. For the bulk of your working years, there are just a few important and very simple actions that need to be done right. The rest can be figured out in the years immediately preceding the day you retire. That is why I created this retirement planning checklist: to demystify the vagueness around retirement planning, simplify the process where appropriate, and provide a step-by-step guide so that you can do those few important things right at each stage of your life. Use this retirement planning checklist as a handy reference guide…
FM 009: How To Convert Your Volatile Investment Portfolio Into Automatic Income With Wade Pfau
How do you convert a volatile portfolio into a stable, automatic income stream? After all, your investment portfolio goes up and down like a roller coaster, but your retirement spending requires a reliable income that you will never outlive. Traditional financial planning provides an oversimplified answer in the 4% Rule, but the latest research into safe withdrawal rates has revealed surprisingly different conclusions that can dramatically impact how you plan your retirement savings strategy…
FM 001: The Truth About Retirement Income & Dave Ramsey’s Shocking ROI and Safe Withdrawal Rate Assumptions with Wade Pfau
In this first episode of the Financial Mentor podcast, professor Wade Pfau reveals the truth about retirement income and investment return assumptions so you can plan your financial future with confidence. All research and facts are contrasted with Dave Ramsey’s unsupportable claims that you can realistically expect 12% investment returns and an 8% safe withdrawal rate in retirement. The result is deep knowledge about sound retirement planning strategy practices so you can build your financial security with confidence and peace of mind…
The Essential Wealth Building Principle Revealed By Roth IRA Conversions (It’s Not What You Think!)
In 1998 I sold my hedge fund business and foolishly traded a sizable income stream for a chunk of capital. It was one of the dumbest financial decisions I’ve ever made. But every cloud has a silver lining. In the same year Roth IRA conversions began and that allowed me to convert that lemon of a decision into lemonade. Learn the essential wealth building principle behind this strategy…
Retirement Savings Statistics Are Ugly
I’m always amazed when I see the retirement savings statistics. It’s a scary picture. A recent newsletter from professor Robert Shiller (Yale University and “Irrational Exuberance” infamy) provided some amazing stats showing a fast approaching disaster in retirement planning and what you must do to not be part of the problem…
