Now that people are living longer, deciding what to do with a lengthy retirement is more important than ever. It can be a daunting task, especially when you lack the necessary knowledge and advice to secure the right retirement for you.
Retirement researcher, Wade Pfau realized that most of us don’t have a clue what we’re doing when it comes to the logistics of retirement planning. Yet we are increasingly responsible for our own futures. We now need to know how much savings we will need to support our non-working lives.
The shift from traditional defined-benefit frameworks – where employers are responsible to fund pension promises, to defined-contribution frameworks – where workers need to figure it out for themselves, motivated Wade Pfau to create a space where ordinary people can learn about the options available for a sustainable retirement.
Pfau, who is also the professor of Retirement Income at the American College and the director of Retirement Research for McLean Asset Management built the Retirement Researcher website to offer a source of objective information for both financial planners and ordinary retirees.
When it comes to retirement logistics, there are so many worries and queries that can leave people seriously distressed. The website helps people find the answers to common doubts such as:
- Do I have enough saved to afford retirement?
- What is the 4% rule?
- What is the appropriate mix of stocks and bonds in retirement?
- When should I start Social Security benefits?
- What is the difference between fixed and variable annuities?
- How can I build a retirement income strategy that will last?
In his book Reverse Mortgages: How to Use Reverse Mortgages to Secure Your Retirement, Pfau tackles the issue of reverse mortgages and presents them in a more positive light than perhaps seen previously. The book aims to provide financial advisors with a new perspective on the essential role reverse mortgages can play in retirement, so they can offer their clients a whole new approach to income planning for the future.
“Reverse Mortgages have been really misunderstood, especially in the financial services industry,” said author Pfau. “This book aims to be an in-depth and well-researched source of information for financial advisors, so they can recommend reverse mortgages to their clients as a smart tactic to plan for the future.”
Pfau’s research presented in both his book and the Retirement Researcher website is a great opportunity for people to get informed on retirement plans and be able to see what works and what doesn’t in terms of a sustainable retirement.
