Creating Lifestyle Flexibility for Retirees Using A Goals-Based Plan
In this Kitces Monthly webinar, Michael Finke, Professor of Wealth Management at The American College of Financial Services, explains the concept of creating a goal-based retirement income plan, which can provide retirees with more flexibility in their retirement income plan while balancing their lifestyle and legacy goals. In this webinar, Finke demonstrates the need for spending adjustments and provides a simple 4-step framework advisors can use to discuss products that reduce longevity risk. In this webinar, advisors will learn:
- The fundamental principles of goal-based retirement planning
- The limitations of traditional withdrawal strategies and failure rates in retirement income planning
- How to apply a four-step retirement income plan to address client preferences, objectives and income tradeoffs
- How to apply a goal-based strategy to help clients select investments and financial products
Michael Finke, Ph.D
Michael Finke, Ph.D. is a Professor of wealth management and Frank M. Engle Distinguished Chair in Economic Security at The American College of Financial Services. He received a doctorate in consumer economics from the Ohio State University in 1998 and in finance from the University of Missouri in 2011. He leads the O. Alfred Granum Center for Financial Security at the American College and is a Research Fellow at the Retirement Income Institute, a member of the Defined Contribution Institutional Investment Association Academic Advisory Council, and serves as a Trustee on the Pension Reserve Trust of Puerto Rico. He is a nationally known researcher in the areas of retirement income planning, retirement spending, life satisfaction, and cognitive aging and was named one of the 25 most influential people in the field of investment advising in 2020 and 2021 by Investment Advisor Magazine.