What does creating a truly fulfilling retirement look like?

In this episode, Jack Martin speaks with Dr. Michael Finke, Co-Founder of IncomePath, and wealth management professor and researcher at the American College of Financial Services, about the crucial intersection of behavior and retirement income planning. Together, they explore innovative approaches to retirement income planning, focusing on not just the numbers, but the value-driven lifestyles clients envision. Discover key insights from Dr. Finke’s research, which delves into the balance between income and satisfaction in retirement. Plus, learn how advisors can foster deeper client relationships by understanding and planning for the distinct lifestyle wishes of retirees.

Dr. Finke discusses:

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• (01:41) His research on retirement satisfaction and income planning dynamics
  
  
• (03:42) The importance of understanding client values before discussing finances
  
  
• (12:29) The concept of “License to Spend” and how guaranteed income sources can transform spending habits
  
  
• (19:50) How to approach the annuity conversation with clients
  
  
• And more
  

Resources:

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• Winning at the Intersection of Annuities and Wealth Management
  
  
• The Humans vs Retirement Podcast with Dan Haylett
  
  
• Michael Finke’s Research
  
  
• Transcript
  

Connect With Michael Finke:

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• Michael Finke
  
  
• LinkedIn: Michael Finke
  
  
• LinkedIn: IncomePath
  
  
• Guaranteed Income: A License to Spend
  

 Connect with Jack Martin:

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• LinkedIn: Jack Martin 
  
  
• InsurMark
  
  
• Contact Form
  

About Michael Finke:

Michael Finke, Ph.D., is a Professor of wealth management and Frank M. Engle Distinguished Chair in Economic Security Research at The American College of Financial Services. He is a nationally known researcher in the areas of retirement income planning, retirement spending, life satisfaction, and cognitive aging.  He is a frequent speaker at financial planning conferences and was named one of the 25 most influential people in the field of investment advising in 2020 and 2021 by Investment Advisor Magazine.