Naturally, this is an essential question for those approaching this important life transition. Essentially, if you wish to retire one day, you are increasingly responsible for figuring out how to save during your working years and convert your savings into sustainable income for an ever-lengthening number of retirement years.
When we properly consider the range of risks introduced after retirement, integrated strategies with insurance and investments can help support more efficient retirement income. Safety-first retirement planning helps to meet financial goals with less worry. I explain how to evaluate different insurance options and implement these solutions into a retirement plan.
Wade D. Pfau, PhD, CFA, RICP® 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.
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