Dr. Wade Pfau is the founder of Retirement Researcher, a retirement-focused firm that uses modern and sound academic research to help clients build a retirement plan.  Wade is also the RICP®️ Program Director at The American College.

After studying economics in college, Wade moved to Japan for 10 years. He worked at a university that was focused on pension systems in emerging markets. When he moved back to the U.S., he started studying for the CFA exams and studied the 4% rule for retirement. He wrote an article on the topic that received a lot of positive feedback.

He has since written four books in the Retirement Researcher Guide Series.

In this episode of Framework, we talk about everything from Wade’s love of wrestling, and the best brisket in Dallas, to how he’s helping advisors go beyond asset management. Wade is a goldmine of financial advice, and his work is actively shaping the future of our industry.

“At the end of the day, when you’re trying to manage a unique set of risks in retirement, you have to go beyond the investment portfolio and think more holistically. Having a greater appreciation about how different assets work and raising the awareness around being more comprehensive with retirement income – not trying to just manage retirement with investments – is important. ~ @WadePfau

Main Takeaways

  • Conventional wisdom is using an investment portfolio without considering things like annuities or reverse mortgages because they’re too expensive or seem unnecessary. But when it comes to retirement income, it’s critical to do more than traditional investments.
  • Buffer assets are worth considering to help preserve the portfolio temporarily. Even if there’s a cost, it can still contribute to a better outcome.
  • Advisors should consider outsourcing services they’re less familiar with. It’s critical to provide comprehensive solutions to your clients.
  • Don’t let interest rates alone drive your decisions. Low interest rates can make annuity and long-term care insurance appear unfavorable, but interest rates are hard to predict and will change.

Links and Important Mentions

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Dr. Wade Pfau and Retirement Researcher are not affiliates of Carson Partners or CWM, LLC.  Opinions expressed by Dr. Pfau during the Framework podcast may not be representative of Carson Partners or CWM, LLC.

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