Dan Moisand, CFP, has been featured as one of the America's top independent financial advisors by most leading financial advisor publications. He has spoken to advisor groups on five continents on topics such as managing investments and navigating tax complexities for retirees, retirement readiness, and most topics relating to the development of the financial planning profession. He practices in Melbourne, Fla. You can reach him at (321) 253-5400 or [email protected]
The Retirement Spending Debate
April 19, 2011
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Comments
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Any retirement distribution plan must at least consider the use of annuities, either variable with guaranteed withdrawal benefits or immediate. Annuites are insurance against running out of money and provide a floor of income, along with Soc. Sec., that cannot be outlived. They are not the only solution but they are part of the solution. Too many planners, put off by the abuses of the index annuity pushers, fail to consider this very useful planning tool. It is as if the word annuity has become profanity and all annuties are being discarded out of hand. The simple fact is that annuities are tools and can be used in both the good and a bad way. Professionals learn to use the good and avoid the bad.
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All retirement spending plans are discarded. Some sooner, some later. As often through advisors changing advice as by the client on their own. A great many people die of the diseases their doctors told them, over and over, how to avoid. Let's just stop imagining that financial advisors can raise the bar. The advisor's work is still very important. It's just not the work that Pfau, et al. thinks it should be.