Participants Need a Retirement Income Plan
(Plan Sponsor, May 2, 2013)
I agree with Bryan Hodges that, "Individuals need a process for converting
their resources into income in retirement." He proposes a six step process
that is more "holistic" (more comprehensive and more focused on
pre-retirement planning) than the actuarial process to determine a spending
budget in retirement described in this website. For further discussion of
holistic retirement planning, readers may find this link to be helpful.
http://www.cabourneandassoc.com/news/hp2.html
Mr. Hodges also refers to "sequence of return" risk. Dr. Wade Pfau has a
nice explanation of this term in a recent post.
http://www.marketwatch.com/story/retirement-the-sequence-of-returns-2013-02-08
