In this episode of Retire with Style, Wade Pfau and Alex Murguia talk with John Manganaro, senior reporter at ThinkAdvisor, about the shifting landscape of retirement income planning. They explore how technology is reshaping financial planning, the growing need for holistic advice, and the challenges both advisors and consumers face in finding effective tools. John offers insights into the future of financial software, the value of human advisors, and the behavioral side of planning-highlighting the importance of addressing both financial and lifestyle goals in retirement.

Takeaways

• Technology is expanding what financial advisors can do.
• Holistic advice is becoming essential for effective retirement planning.
• An aging population is driving greater demand for financial planning.
• Advisors are increasingly using advanced tools for tax-efficient retirement income strategies.
• The advisor’s role remains critical in implementing and personalizing financial plans.
• Behavioral factors are just as important as the numbers in financial planning.
• More new advisors are focusing on serving middle-class clients.
• AI may help democratize access to quality financial advice.
• New software solutions are reshaping how the industry delivers financial planning.
• Many next-generation advisors are driven by a desire to help others, not just manage wealth.

Chapters

00:00 Introduction to Retirement Income Planning 03:00 The Role of Technology in Financial Planning 06:03 Understanding Holistic Financial Advice 09:05 The Evolution of Financial Planning Tools 11:54 Challenges in Accessing Financial Advice 14:57 The Future of Financial Software Solutions 25:56 Exploring Social Security Strategies 28:07 Preparing for Retirement: Lifestyle Considerations 30:00 Behavioral Challenges in Financial Planning 33:00 The Evolution of Financial Software 39:07 The Role of AI in Financial Advice 42:57 The New Wave of Financial Advisors

Links

Upcoming Retirement Researcher Webinar: What’s Involved When Working With an Advisor. Join Jason Rizkallah and Brian Bass from McLean Asset Management on Wednesday, June 25th at 1PM ET for a FREE webinar exploring how to evaluate and work with a financial advisor. Register now at retirewithstyle.com/podcast.

Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it!

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this episode of Retire with Style, Alex Murguia and Wade Pfau explore the key elements of comprehensive retirement planning. They discuss the importance of understanding your financial goals, working with a financial advisor, and managing risks like health insurance and long-term care costs. Drawing on listener questions and case studies, they examine strategies for transitioning from business ownership to retirement income, optimizing Social Security, and addressing funding gaps. The conversation highlights how personalized planning and thoughtful asset allocation can lead to better financial outcomes in retirement. Listen now to learn more!

Takeaways

• The quality of your questions shapes the quality of your financial plan.
• Clear retirement goals are the foundation of effective planning.
• Financial advice must be tailored—there is no one-size-fits-all solution.
• Investment strategies should align with your personal goals and overall asset allocation.
• Health insurance planning is critical before reaching Medicare eligibility.
• Long-term care costs should be factored into your retirement plan.
• Tax planning can significantly increase your after-tax retirement income.
• Transitioning from business income to retirement income requires thoughtful preparation.
• Financial independence involves complex, interconnected decisions.
• Personalized strategies are essential for a successful retirement.
• Understanding your risk capacity and comfort level is vital to planning.
• Social Security claiming strategies can meaningfully affect retirement income.
• Asset location matters just as much as asset allocation.
• A written financial plan helps turn goals into actionable decisions.
• Part-time work can be a useful tool to bridge income gaps in early retirement.
• Fixed index annuities may offer dependable income in retirement.
• A good financial advisor can materially improve your retirement outcomes.
• It's important to assess your confidence and ability to manage your retirement plan.
• Effective planning requires a clear understanding of your assets and liabilities.

Chapters

00:00 Introduction to Financial Planning and the Webinar 01:57 Understanding Financial Plans and the Role of Advisors 05:53 Analyzing a Financial Independence Case Study 12:06 Exploring Retirement Risks and Goals 17:54 Investment Strategies and Tax Planning for Retirement 19:49 Transitioning from Business Sale to Retirement Income 25:08 Exploring Financial Strategies for Retirement 35:22 Bridging the Retirement Gap 42:32 The Value of Financial Advisors

Links

Upcoming Retirement Researcher Webinar: What’s Involved When Working With an Advisor! Join Jason Rizkallah and Brian Bass from McLean Asset Management on Wednesday, June 25th at 1PM Eastern for a FREE webinar exploring how to evaluate and work with a financial advisor. Register now at retirewithstyle.com/podcast.

Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it!

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode of Retire with Style, Wade Pfau and Alex Murguia explore alternative investments with a focus on natural resources, commodities, and catastrophe bonds. They break down the strategies and risks behind these asset classes and examine how they can fit into a diversified retirement portfolio. The conversation offers insights into the potential advantages and challenges of these investments for retirement planning.

Takeaways

• Natural resources include timberland, farmland, and water rights.
• Commodities can serve as an inflation hedge but are volatile.
• Catastrophe bonds transfer natural disaster risk to investors.
• Investing in companies that use commodities may be more beneficial.
• The correlation of commodities to equities is generally low.
• Catastrophe bonds can provide uncorrelated returns to the market.
• Investors should consider the expected return for each asset class.
• Due diligence is essential when exploring alternative investments.
• Infrastructure investments can offer stable returns through usage fees.
• The role of portfolio managers is to expose investors to asset classes with favorable risk-return profiles.

Chapters

00:00 Introduction to Alternative Investments 02:22 Exploring Natural Resources and Commodities 11:53 Understanding Catastrophe Bonds 21:18 Evaluating Risks and Returns in Catastrophe Bonds

Links

Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it!

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”