Understanding the 2 paradigms of retirement income

04/21/2014 | Journal of Financial Planning

Financial planners should be familiar with both probability-based and safety-first approaches to retirement income, even if they tend to agree with only one of these, writes Wade Pfau, professor of retirement income at The American College. In this article, Pfau explains how each approach addresses goal prioritization, investment portfolio construction, household balance sheets and safe withdrawal rates.

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