In this episode of Retire with Style, Wade Pfau and Alex Murguia talk with John Manganaro, senior reporter at ThinkAdvisor, about the shifting landscape of retirement income planning. They explore how technology is reshaping financial planning, the growing need for holistic advice, and the challenges both advisors and consumers face in finding effective tools. John offers insights into the future of financial software, the value of human advisors, and the behavioral side of planning-highlighting the importance of addressing both financial and lifestyle goals in retirement.

Takeaways

• Technology is expanding what financial advisors can do.
• Holistic advice is becoming essential for effective retirement planning.
• An aging population is driving greater demand for financial planning.
• Advisors are increasingly using advanced tools for tax-efficient retirement income strategies.
• The advisor’s role remains critical in implementing and personalizing financial plans.
• Behavioral factors are just as important as the numbers in financial planning.
• More new advisors are focusing on serving middle-class clients.
• AI may help democratize access to quality financial advice.
• New software solutions are reshaping how the industry delivers financial planning.
• Many next-generation advisors are driven by a desire to help others, not just manage wealth.

Chapters

00:00 Introduction to Retirement Income Planning 03:00 The Role of Technology in Financial Planning 06:03 Understanding Holistic Financial Advice 09:05 The Evolution of Financial Planning Tools 11:54 Challenges in Accessing Financial Advice 14:57 The Future of Financial Software Solutions 25:56 Exploring Social Security Strategies 28:07 Preparing for Retirement: Lifestyle Considerations 30:00 Behavioral Challenges in Financial Planning 33:00 The Evolution of Financial Software 39:07 The Role of AI in Financial Advice 42:57 The New Wave of Financial Advisors

Links

Upcoming Retirement Researcher Webinar: What’s Involved When Working With an Advisor. Join Jason Rizkallah and Brian Bass from McLean Asset Management on Wednesday, June 25th at 1PM ET for a FREE webinar exploring how to evaluate and work with a financial advisor. Register now at retirewithstyle.com/podcast.

Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it!

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this episode of Retire with Style, Alex Murguia and Wade Pfau explore the key elements of comprehensive retirement planning. They discuss the importance of understanding your financial goals, working with a financial advisor, and managing risks like health insurance and long-term care costs. Drawing on listener questions and case studies, they examine strategies for transitioning from business ownership to retirement income, optimizing Social Security, and addressing funding gaps. The conversation highlights how personalized planning and thoughtful asset allocation can lead to better financial outcomes in retirement. Listen now to learn more!

Takeaways

• The quality of your questions shapes the quality of your financial plan.
• Clear retirement goals are the foundation of effective planning.
• Financial advice must be tailored—there is no one-size-fits-all solution.
• Investment strategies should align with your personal goals and overall asset allocation.
• Health insurance planning is critical before reaching Medicare eligibility.
• Long-term care costs should be factored into your retirement plan.
• Tax planning can significantly increase your after-tax retirement income.
• Transitioning from business income to retirement income requires thoughtful preparation.
• Financial independence involves complex, interconnected decisions.
• Personalized strategies are essential for a successful retirement.
• Understanding your risk capacity and comfort level is vital to planning.
• Social Security claiming strategies can meaningfully affect retirement income.
• Asset location matters just as much as asset allocation.
• A written financial plan helps turn goals into actionable decisions.
• Part-time work can be a useful tool to bridge income gaps in early retirement.
• Fixed index annuities may offer dependable income in retirement.
• A good financial advisor can materially improve your retirement outcomes.
• It's important to assess your confidence and ability to manage your retirement plan.
• Effective planning requires a clear understanding of your assets and liabilities.

Chapters

00:00 Introduction to Financial Planning and the Webinar 01:57 Understanding Financial Plans and the Role of Advisors 05:53 Analyzing a Financial Independence Case Study 12:06 Exploring Retirement Risks and Goals 17:54 Investment Strategies and Tax Planning for Retirement 19:49 Transitioning from Business Sale to Retirement Income 25:08 Exploring Financial Strategies for Retirement 35:22 Bridging the Retirement Gap 42:32 The Value of Financial Advisors

Links

Upcoming Retirement Researcher Webinar: What’s Involved When Working With an Advisor! Join Jason Rizkallah and Brian Bass from McLean Asset Management on Wednesday, June 25th at 1PM Eastern for a FREE webinar exploring how to evaluate and work with a financial advisor. Register now at retirewithstyle.com/podcast.

Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it!

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode of Retire with Style, Wade Pfau and Alex Murguia explore alternative investments with a focus on natural resources, commodities, and catastrophe bonds. They break down the strategies and risks behind these asset classes and examine how they can fit into a diversified retirement portfolio. The conversation offers insights into the potential advantages and challenges of these investments for retirement planning.

Takeaways

• Natural resources include timberland, farmland, and water rights.
• Commodities can serve as an inflation hedge but are volatile.
• Catastrophe bonds transfer natural disaster risk to investors.
• Investing in companies that use commodities may be more beneficial.
• The correlation of commodities to equities is generally low.
• Catastrophe bonds can provide uncorrelated returns to the market.
• Investors should consider the expected return for each asset class.
• Due diligence is essential when exploring alternative investments.
• Infrastructure investments can offer stable returns through usage fees.
• The role of portfolio managers is to expose investors to asset classes with favorable risk-return profiles.

Chapters

00:00 Introduction to Alternative Investments 02:22 Exploring Natural Resources and Commodities 11:53 Understanding Catastrophe Bonds 21:18 Evaluating Risks and Returns in Catastrophe Bonds

Links

Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it!

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this episode of Retire with Style, Wade Pfau and Alex Murguia explore real assets- focusing on real estate and infrastructure- and their role in retirement portfolios. They discuss the pros and cons of residential and commercial property ownership, the value of REITs, and the potential of infrastructure investments. The conversation highlights the importance of diversification and understanding the risk-return tradeoffs of these asset classes. Listen now to learn more!

Takeaways

• Real assets—like real estate and infrastructure—can play a valuable role in retirement portfolios.
• These assets can improve portfolio efficiency by enhancing return relative to risk.
• REITs offer accessible exposure to real estate without requiring accredited investor status.
• Owning residential property often requires active management and can feel more like a job than a passive investment.
• Commercial real estate tends to provide more stable income through longer-term leases.
• Infrastructure investments can offer steady cash flows and some protection against inflation.
• Diversification remains key to effectively managing portfolio risk.
• 1031 exchanges allow investors to defer capital gains taxes when selling real estate.
• Water rights represent a niche but growing area of investment opportunity.

Chapters

00:00 Introduction to Real Assets 02:00 Understanding Real Estate in Portfolios 08:04 The Role of Residential Real Estate 16:01 Exploring Commercial Real Estate 28:05 Infrastructure as an Investment 33:44 Conclusion and Future Topics

Links Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it!

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode of Retire with Style, Wade Pfau and Alex Murguia explore the complex world of hedge funds, focusing on strategies like global macro, event-driven, and managed futures. They explain the role of derivatives, the impact of forecasting, and how these approaches can complement a broader investment portfolio, especially in the context of retirement planning.

Takeaways

• Derivatives are contracts whose value depends on an underlying asset.
• Global macro strategies rely on macroeconomic trends and require strong forecasting skills.
• Event-driven strategies aim to profit from corporate actions such as mergers and acquisitions.
• Managed futures use trend-following techniques to trade commodities, currencies, and other assets.
• Understanding the distinction between futures and options is essential for informed investing.
• Hedge funds typically require accredited investor status due to their complexity and risk profile.
• Hedge fund performance can vary widely depending on market conditions and strategy selection.
• Managed futures often have low correlation with traditional stock and bond markets, offering diversification benefits.
• Investors should evaluate how hedge fund strategies align with their broader investment objectives.

Chapters

00:00 Introduction to Hedge Funds and Market Trends 02:34 Understanding Derivatives in Investing 10:14 Exploring Global Macro Strategies 20:29 Diving into Event-Driven Strategies 30:36 Managed Futures: Trend Following Approaches 40:05 Conclusion and Future Discussions

Links

Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it!

Join Us Live on YouTube – June 2nd at 2PM ET! Want to go beyond the podcast and be part of the conversation in real time? Wade and Alex will be hosting a special Retire With Style YouTube Live session, where you can ask your retirement questions and get answers on the spot.

Head over to our YouTube channel now, hit Subscribe, and click the bell to get notified when we go live. We’ll see you there! https://www.youtube.com/@retirewithstylepodcast

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips

In this episode, Wade and Alex explore the world of hedge funds—what they are, how they’re structured, and how they’ve evolved from simple hedging tools into complex investment vehicles. They break down common fee models, challenges in measuring performance, and the impact of data biases. The conversation also covers key hedge fund strategies—including long-short, market neutral, arbitrage, and quantitative approaches—highlighting their mechanics, risk profiles, and what they mean for investors, particularly those nearing retirement. Listen now to learn more!

Takeaways

• Hedge funds are actively managed investment vehicles with fewer regulatory constraints.
• They aim for absolute returns, regardless of market direction.
• The traditional fee model is “2 and 20”—2% management fee and 20% of profits.
• Fees are declining due to growing competition and investor scrutiny.
• Performance is difficult to assess due to survivorship bias and data limitations.
• Investors should be cautious of marketing claims and understand the fund’s true strategy.
• Long-short strategies bet on both rising and falling stocks.
• Market neutral strategies attempt to remove market exposure to focus on relative performance.
• Arbitrage seeks to profit from temporary price inefficiencies.
• Quantitative strategies rely on data-driven models to guide trades.
• Risk premium harvesting involves tilting toward factors like value or momentum.
• Short selling helps with price discovery but carries risk due to unlimited loss potential.
• Understanding alpha (excess return) and beta (market exposure) is key to evaluating hedge fund performance.
• Technology is central to many modern trading strategies.
• Informed investors are better positioned to navigate complex alternatives like hedge funds.

Chapters

00:00 Introduction to Hedge Funds 02:12 Understanding Hedge Funds 05:30 Fee Structures and Costs 10:00 Performance and Survivorship Bias 16:08 Hedge Fund Strategies Overview 22:43 Long-Short and Market Neutral Strategies 23:40 Understanding Long-Short Strategies 30:10 Exploring Market Neutral Strategies 38:11 Diving into Arbitrage and Quantitative Strategies

Links

Join Us Live on YouTube – June 2nd at 2PM ET! Want to go beyond the podcast and be part of the conversation in real time? Wade and Alex will be hosting a special Retire With Style YouTube Live session, where you can ask your retirement questions and get answers on the spot.

Head over to our YouTube channel now, hit Subscribe, and click the bell to get notified when we go live. We’ll see you there! https://www.youtube.com/@retirewithstylepodcast

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

In this episode of Retire with Style, Dr. Wade Pfau and Dr. Alex Murguia explore the evolving world of alternative investments and their potential role in retirement planning. They discuss the concept of "Winning the Loser’s Game"—emphasizing the value of steady, disciplined strategies over high-risk maneuvers—and examine how alternatives like cryptocurrencies, private equity, and hedge funds may fit into a well-structured retirement portfolio. The conversation covers what it means to be an accredited investor, common misconceptions about alternative assets, and the importance of liquidity and regulatory oversight. They also touch on how current market dynamics are making these investments more accessible to individuals. Plus, they answer a listener question about spousal benefits under Social Security, offering practical guidance for those planning around them. Listen now to learn more!

Takeaways

• Alternative investments can enhance portfolio diversification.
• The concept of 'Winning the Loser's Game' applies to investing strategies.
• Community engagement can be fostered through shared interests like pickleball.
• Understanding the role of alternative investments is crucial for informed decision-making.
• Not all alternatives are suitable for every investor's portfolio.
• The definition of alternatives is broad and includes various asset classes.
• Investors should be cautious of the hype surrounding alternatives.
• Higher returns are often touted as a benefit of alternative investments.
• Inflation hedging is a key reason for considering alternatives.
• Access to alternative investments is becoming more democratized. Cryptocurrencies, especially Bitcoin, are seen as alternatives to traditional assets.
• The future of investing is evolving, with more access for household investors.
• Accredited investor status is crucial for accessing certain investment opportunities.
• Many misconceptions exist about the risk and accessibility of alternative investments.
• Liquidity versus illiquidity is a key consideration in alternative investments.
• Market dynamics are changing, making alternatives more relevant now.
• Technological innovations are democratizing access to alternative investments.
• Investors should assess their portfolios for potential returns in alternatives.
• Regulatory oversight is important for ensuring the safety of investments.
• Understanding Social Security benefits is essential for retirement planning.

Chapters

00:00 Introduction to Alternative Investments 02:57 The Concept of Winning the Loser's Game 06:09 Engaging the Community with Pickleball 08:58 Understanding Alternative Investments 12:05 Defining Alternatives in Investing 15:03 The Appeal of Alternative Investments 19:33 Exploring Cryptocurrencies and Their Unique Position 22:01 The Evolution of Alternative Investments for Household Investors 24:40 Understanding Accredited Investor Status and Its Implications 31:07 Debunking Myths About Alternative Investments 41:07 Why Now is the Time to Consider Alternatives 45:17 Listener Question: Social Security Spousal Benefits

Links

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips