Why Retirement Risk Requires Dynamic Planning

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About This Episode

Retirement planning is complex and risk in retirement is real. To improve the confidence clients have in working with an advisor, you need to prepare them for changes in retirement and avoid the talk of probability of failure and success. Ongoing adjustment-based planning aligns clients’ perceptions of risk in retirement with reality. This often results in small course corrections with many retirees finding they can spend more than originally planned. My guest, Justin Fitzpatrick, is here to discuss new research and technology that helps advisors paint a more realistic picture of what retirement could look like and guides clients through retirement more successfully.

About Our Guest

Justin Fitzpatrick is co-founder and chief innovation officer for Income Lab, a provider of technology solutions that help advisors plan for their clients’ futures. Justin came to Income Lab following a career in the financial services industry and has taught at MIT, Harvard, the University of London, and UCLA.

Show Notes

Here is a link to an article that Justin’s co-founder, Johnny Poulsen, wrote for Advisor Perspectives: How the 4% Rule Undermines Advisors and Clients. Here is a like to an article on Michael Kitces’ site about Income Lab: Reducing Retirement "Outrage" Risk with Adjustment-Based Planning and Communication. Here is a link to a white paper on the Income Lab site: It's Time to Retire Static Planning. Here is how you can learn more about the Income Lab product: Demo Income Lab’s dynamic retirement income planning software.