Framework | E132 | Michael Finke: Learning How to Spend in Retirement

Welcome to Carson Group’s and PIMCO‘s Retirement Income Series. In today’s episode, retirement expert and The American College of Financial Services Wealth Management Professor Michael Finke shares an economist’s perspective on retirement income planning. In addition to his role in the classroom, Michael also serves as Director for the Granum Center for Financial Security and the Frank M. Engle Distinguished Chair in Economic Security at The American College. He is focused on advancing knowledge in the emerging field of retirement income planning and preparing the next generation of practitioners to think more broadly about this topic. An economist by training, when Michael moved into financial planning, he felt the traditional approach to retirement income planning was incomplete. “We sacrifice during our working years to preserve money to live better in retirement. Then we get to retirement and there is a mental barrier to spending. That’s a problem,” he says. “We have a system dedicated to living better in retirement, and it’s not working.” In today’s episode, Michael speaks to Jamie and Devin Ekberg, a senior consultant and education advisor with PIMCO, about the importance of being deliberate about how much of our wealth we want to spend in retirement and how much we want to pass on, the need to break long-held habits of thrift to enjoy retirement, the important role of annuities to avoid outliving savings, the problem with the bucket strategy and more. Show notes and other information: https://www.carsongroup.com/framework/ Don’t miss an episode – subscribe today! Apple Podcasts 👉 https://podcasts.apple.com/us/podcast... Spotify 👉 https://open.spotify.com/show/2w5XiJY...