Wade Pfau: The 4% Rule Is No Longer Safe

<p>Our guest on the podcast is retirement researcher Dr. Wade Pfau. Wade is a professor of retirement income in the Ph.D. in Financial and Retirement Planning program at the American College of Financial Services. He is also co-director of the New York Life Center for Retirement Income. A prolific writer and researcher, Wade has authored papers and books on a wide spectrum of retirement-related topics, including in-retirement withdrawal rates, optimal asset allocations for retirement, and the role of annuities in retirement portfolios. He is a two-time winner of the <em>Journal of Financial Planning</em>'s Montgomery-Warschauer Award, a two-time winner of the Academic Thought Leadership Award from the Retirement Income Industry Association, and a best paper award winner in the retirement category from the Academy of Financial Services. His latest book, part of the Retirement Researcher Guide Series, is called <em>Safety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement</em>. <br /></p><p><br /></p><p>He holds a doctorate in economics and a master's degree from Princeton University and Bachelor of Arts and Bachelor of Science degrees from the University of Iowa. He is also a Chartered Financial Analyst.<br /></p><p><br /></p><p><strong>Background </strong><br /></p><p><br /></p><p><a href="https://www.theamericancollege.edu/our-people/faculty/wade-pfau" target="_blank">Wade Pfau bio</a> </p></p><p><p><a href="https://www.amazon.com/s?k=wade+pfau&i=stripbooks&crid=HBC5HBCS3JHN&sprefix=wade+pfau%2Cdigital-text%2C169&ref=nb_sb_ss_c_2_9" target="_blank">Books by Wade Pfau</a><br /></p><p><br /></p><p><a href="https://retirementresearcher.com/blog/" target="_blank">Wade Pfau blog posts</a> on Retirement Researcher <br /></p><p><br /></p><p><a href="https://www.forbes.com/sites/wadepfau/#2e9641a92c61" target="_blank">Wade Pfau Forbes columns</a> <br /></p><p><br /></p><p><a href="https://blogs.wsj.com/experts/tag/wade-pfau/" target="_blank">Wade Pfau blog posts</a> for WSJ’s “The Experts” <br