How to “Pensionize” Any IRA or 401(k) Plan – Steve Vernon
This webinar introduces the Spend Safely in Retirement Strategy, which is a straightforward method for middle-income workers to generate reliable, lifetime retirement income from any IRA or 401(k) plan.
This strategy was one outcome of a substantial research project conducted by the Stanford Center on Longevity, in collaboration with the Society of Actuaries.
This project analyzed and compared 292 retirement income strategies, using stochastic forecasts and efficient frontiers, powerful analytical techniques that large defined benefit plans use to devise funding and investment strategies.
It then developed eight metrics to fine-tune comparisons of 21 of the most promising strategies. Using these analyses and metrics, the Spend Safely in Retirement Strategy compared favorably to the many strategies analyzed in the project.
In this one-hour session “How to “Pensionize” Any IRA or 401(k) Plan”, you will:
- Learn how middle-income retirees can develop a stream of reliable lifetime income;
- Hear how to frame and communicate retirement decisions to older workers and retirees;
- See straightforward investment strategies that can be used by middle-income retirees during their retirement;
- Learn how older workers can integrate their financial and working decisions in their 60s;
- See methods for analyzing and comparing retirement income strategies.
Your instructor for this course is:
Steve Vernon, FSA, MAAA, Research Scholar, Stanford Center on Longevity, President of Rest-of-Life Communications
In both of his roles as Research Scholar at the Stanford Center on Longevity and as the President of Rest-of-Life Communications, Steve is active with research, writing, and speaking on the most challenging issues facing retirees today, including finance, health, and lifestyle.
For more than 35 years, he has helped Fortune 1000 employers design, manage and communicate their retirement programs.
Steve is one of the most sought-after retirement experts in the country due to his surprising and inspiring insights. He is quoted frequently in such publications as The Wall Street Journal, New York Times, Los Angeles Times, USAToday, BusinessWeek, Fortune Magazine, Kiplinger’s, and Money Magazine. He also writes occasional columns for Retirement Weekly.
Moderator: Betty Meredith, CFA, CFP®, CRC®, Int’l Retirement Resource Center
1 hr CFP®, CRC®, and other CE Credit Reporting
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Overall Rating: 4.7 / 5
Video and audio MP3 formats available
Specifications: 60 minute webinar course
Knowledge Level: 3 – Intermediate
Read the Key Retirement Takeaways by Steve Vernon from “How to “Pensionize” Any IRA or 401(k) Plan”:
- Takeaway #1 for Advisors: Key tradeoff decisions are required in retirement income planning.
Choosing a specific solution to generate retirement income requires making informed tradeoffs between potentially competing goals.
- Takeaway #2 for Advisors: We compared 292 potential retirement solutions.
See an efficiant frontier for potential retirement income solutions that shows their tradeoff between income and remaining wealth.
- Takeaway #3 for Advisors: For most middle-income retirees, Social Security represents a substantial portion of their retirement income.
Social Security is the near-perfect retirement income generator for most middle-income retirees, from two-thirds to more than 80 percent of their income.
- Takeaway #4 for Advisors: The Spend Safely in Retirement Strategy delivers equal or greater income throughout the life of a retiree.
The Spend Safely in Retirement Strategy delivers equal or greater income throughout the life of a retiree compared to 292 other strategies.