Episode Details
Back to EpisodesWade Pfau: The 4% Rule Is No Longer Safe
Description
Our guest on the podcast is retirement researcher Dr. Wade Pfau. Wade is a professor of retirement income in the Ph.D. in Financial and Retirement Planning program at the American College of Financial Services. He is also co-director of the New York Life Center for Retirement Income. A prolific writer and researcher, Wade has authored papers and books on a wide spectrum of retirement-related topics, including in-retirement withdrawal rates, optimal asset allocations for retirement, and the role of annuities in retirement portfolios. He is a two-time winner of the Journal of Financial Planning's Montgomery-Warschauer Award, a two-time winner of the Academic Thought Leadership Award from the Retirement Income Industry Association, and a best paper award winner in the retirement category from the Academy of Financial Services. His latest book, part of the Retirement Researcher Guide Series, is called Safety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement.
He holds a doctorate in economics and a master's degree from Princeton University and Bachelor of Arts and Bachelor of Science degrees from the University of Iowa. He is also a Chartered Financial Analyst.
Background
Wade Pfau blog posts on Retirement Researcher
Wade Pfau blog posts for WSJ’s “The Experts”
Asset Allocation in Retirement
Kitces, M. & Pfau, W. “Reducing Retirement Risk with a Rising Equity Glide Path.” Journal of Financial Planning. Vol. 1. P. 38.
Pfau, W. “To Rise or Not To Rise: Stock Allocation During Retirement.” Retirement Researcher.
Pfau, W. “4 Ways to Manage Sequence of Returns Risk in Retirement.” Retirement Researcher.
Benz, C. 2019. “Cut Stocks Or Add to Them? A Key Dilemma for Your Retirement Plan.” Morningstar.com, July 25, 2019.
Blanchett, D., Finke, M., & Pfau, W. 2013. "Asset Valuations and Safe Portfolio Withdrawal Rates." June 28, 2013.
Withdrawal Rates in Retirement
Wollman Rusoff, J. 2020. “Wade Pfau: Pandemic Tears Up 4% Rule.” ThinkAdvisor, April 14, 2020.
Blanchett, D., Finke, M., & P