Deciding how much to spend from savings in retirement is complicated given uncertain lifespans, asset returns, inflation, etc.

This presentation explores the concept that lifetime income can gives retirees a “license to spend” whereby households with a greater share of their wealth in lifetime income spend more than retirees who hold more of their wealth in savings. 

Additional topics discussed include a framework to determine the optimal lifetime income strategy, advisor perspectives on lifetime income solutions, and how we can improve financial plans to give clients better advice and guidance. 

In "Lifetime Income: A License to Spend" with David Blanchett, you will learn:

1. Spending assets in retirement is difficult when confronted with significant uncertainties around things like market returns, mortality, inflation, etc.;
2. There is a relatively robust body of research on the economic benefits of allocating to annuities, but the “annuity puzzle” persists;
3. There is a growing body of research suggesting retirees underspend from savings, but that lifetime income can potentially give retirees a “license to spend”;
4. Common assumptions in financial planning tools today may not effectively demonstrate the potential value of lifetime income strategies.

Your presenter is David Blanchett, PhD, CFA, CFP®, Head of Retirement Research, PGIM DC Solutions.

David M. Blanchett, PhD, CFA, CFP® is head of retirement research for PGIM DC Solutions. In this role, he helps develop and maintain methodologies relating to wealth forecasting, general financial planning, automated investment selection, and portfolio assignment for PGIM DC Solutions.

He has published over 100 papers in a variety of industry and academic journals that have received a number of awards. He is currently an Expert Panelist for the Wall Street Journal, an Adjunct professor of Wealth Management at The American College, and a member of the ERISA Advisory Council. He recently earned the Best Research Award for the Annual Research Track at the 2020 Financial Planning Association Annual Conference.

Moderator: Betty Meredith, CFA, CFP®, CRC®, Int’l Retirement Resource Center

1 hr CFP®, CRC®, and other CE Credit Reporting

We will report your CFP® and/or CRC® credit (no additional reporting fee) checkout.  After purchase you will receive an email with a token. Please redeem token to take this course. You will receive another email explaining where to enter your CFP® and/or CRC® IDs  You are responsible for reporting all other certifications for CE credit. 

Overall Rating: 4.5 / 5

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