Michael Finke, Ph.D. CFP®
Michael Finke, Ph.D., CFP® is the dean and chief academic officer at The American College of Financial Services. Dr. Finke completed his doctorate in consumer economics at The Ohio State University in 1998 and finance from the University of Missouri in 2011. Previously, he was the director of the retirement planning and Living Center program and the director of graduate studies at Texas Tech and at the University of Missouri. His research includes studies of retirement savings and investment behavior, optimal retirement income and annuitization strategies, regulation of financial advice, financial literacy in old age, and most recently of life satisfaction among retirees. He received the award for the most influential paper published in the Journal of Financial Planning in 2013 and 2014. His topic will be on retirement living.
Keynote Topic: Retirement Living
Retirement planning involves a unique set of challenges for advisers, including an unknown planning period, investment returns, lifestyle, and physical and cognitive decline. This session will include a discussion of trends in longevity, new research on the stages in retirement, spending and time use patterns, and life satisfaction. A comprehensive retirement plan incorporates both financial and lifestyle goals, and this session will provide insight into how an advisor can help clients get the most out of this life cycle stage.
Session Topic: A New Perspective on Retirement Income Planning
Advisors often view retirement income planning through the lens of the 4 percent rule, but changes in longevity and a lower-return environment challenge conventional wisdom about safe withdrawal rates. This presentation will discuss what it means to take on risk with an investment portfolio in retirement, how high prices for bonds and stocks will impact withdrawal rate projection, and the risk of health care expenses. The presentation will conclude with strategies to deal with a new retirement reality including a discussion of qualified longevity annuity contracts
