Managing Retirement Risks: Longevity, Markets, and Spending Shocks

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This video features an in-depth conversation between Jim Karthaus and Dr. Wade Pfau, renowned experts in retirement income planning. Aimed at financial professionals, the discussion explores the critical risks facing retirees—including longevity, market, and spending shock risks—and emphasizes the shift from wealth accumulation to decumulation. The conversation highlights the importance of understanding client-specific retirement income styles, the impact of behavioral factors on decision-making, and the need for comprehensive planning that integrates Social Security strategies, tax efficiency, and non-financial aspects such as purpose and relationships. The session provides actionable insights and frameworks for advisors seeking to deliver holistic, client-centered retirement solutions in a rapidly evolving landscape.

This video is part of the MSFP 602 Retirement Financial Products course. Learn more about the Master of Science in Financial Planning program.

​Learning Objectives

Upon successful completion of this learning activity, you will confidently be able to:​

• Identify the key risks in retirement income planning, including longevity risk, market risk, and spending shocks.
• Describe the differences between accumulation and decumulation phases in retirement planning.
• Describe the current trends in retirement spending for Baby Boom retirees and contrast that to the common assumptions about spending in retirement.
• Explain the significance of Social Security claiming strategies and their impact on retirement outcomes.

Presenters

James Karthaus, CFP®, CLU®, ChFC®, MA

Wade D. Pfau, PhD, CFA, RICP^®

CFP^® CE Credit

This content is eligible for one hour of CFP^® continuing education (CE) credit.

If you hold the CFP^® mark and would like to receive CFP Board CE credit for this content, please ensure your CFP^® ID number is entered here.

The College’s Professional Recertification Program (PRP)

This content is eligible for one hour of PRP continuing education credit.

To begin, click on the button below. As you move through the content, make sure to mark each page complete by clicking on the appropriate button, and then click Next Lesson at the bottom of each page. Once you complete the entire activity, the progress bar will show 100%.

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