One of the Top Thinkers in Retirement Planning Discusses the Dangers of Conventional Monte Carlo

Wade Pfau - One of the Top Thinkers in Retirement Planning Discusses the Dangers of Conventional Monte Carlo and His Take On Achieving a Financially Successful Retirement
This is an exciting, in depth conversation about retirement planning! Do take a look and/or listen!
Below, please find Wade's amazing bio. The key thing to note is he's a PhD in Economics from Princeton University. There are so few economists engaging with the professional community and households on financial planning. It's great to be in Wade's company.
His websites are wadepfau.com and retirementresearcher.com. He's the author of four books -- the most recent is Retirement Planning Guidebook.
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.
He holds a doctorate in economics from Princeton University and has published more than sixty research articles in a wide variety of academic and practitioner journals. His research has been discussed in outlets including the print editions of the Economist, New York Times, Wall Street Journal, Time, Kiplinger’s, and Money magazine.
Wade is a past selectee for the Investment News Power 20 in 2013 and inaugural 40 Under 40 in 2014, the Investment Advisor 35 list for 2015 and 25 list for 2014, and Financial Planning magazine’s Influencer Awards. In 2016, he was chosen as one of the Icons and Innovators by Investment News. He is a two-time winner of the Journal of Financial Planning Montgomery-Warschauer Editor’s 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. Wade served for four years as a coeditor of the Journal of Personal Finance.
Wade has contributed to Forbes, Advisor Perspectives, and as an Expert Panelist for the Wall Street Journal. He has spoken at the national conferences of organizations such as the CFA Institute, the CFP Board, the FPA, NAPFA, and the Academy of Financial Services.
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[@randolphh8005]

Wade’s book(s) is excellent and eye opening. However, it is not an easy read. Plan some time and re-reading.
We have learned tons from him and applied several strategies in our own retirement. Also a comprehensive look at traditional approaches and pros and cons of such.
I believe that his strategies have greatly enhanced our retirement plans and spending strategies.

[@mattengland653]

Blending actuarial products and investments is the apex strategy for retirement income. Particularly, “volatility buffering” by using the cash value whole life as a buffer during downturns - this strategy still allows for market upside potential while protecting against downside risk and can effectively double or even triple the safe withdrawal rate in retirement. The covered asset strategy is also great but I think that fits folks who are completely risk averse. Lastly, you should certainly try to work with a financial professional on your retirement income plan - I’m an RICP myself from Wades course designed at the American College of FS. It’s great to understand the concepts yourself but working with a professional who’s business it is to stay on top of all the ever changing and shifting products, rules and strategies is paramount. After all, you only get one shot to get it right! 🙌🏽