Estimating the True Cost of Retirement
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Prepare your clients for their most expensive "purchase"
Retirement isn’t cheap. Preparing a solid plan starts with understanding the true cost. But calculating it is based on several variables, making it tough to estimate. You need a revised framework to guide your clients better.
Join David Blanchett of PGIM (Prudential's global investment management business) to help your clients prepare for retirement on their own terms. We discuss the implications of properly forecasting asset growth and considerations when estimating liability.
Key takeaways include:
- Gaining a better understanding of cost variables
- Calculating income replacement rate more effectively
- Employing an improved spending model
- Helping clients understand how expenses change — and the implications of these changes
- Discovering today’s “safe” initial withdrawal rate
If you help clients plan for retirement, this is a session you won’t want to miss.
Mike McGlothlin, CFP®, CLU®, ChFC®, LUTCF®, NSSA® is a bestselling author, industry-renowned speaker and expert in growth strategies for financial advisors.
Today as the Executive Vice President of Retirement for Ash Brokerage, he leads 65 direct reports who have grown a business line to one of the largest wholesaling teams in the Brokerage General Agency space.
As a professional guide he can help any financial advisor looking to create exponential revenue growth, to find new clients and better streamline their operations by incorporating simple methodologies and proven models.
As Managing Director and Head of Retirement Research for PGIM DC Solutions, David Blanchett, PhD, CFA, CFP®, develops research and innovative solutions to help improve retirement outcomes for investors with a focus on defined contribution plans. He is an Adjunct Professor of Wealth Management at The American College of Financial Services and Research Fellow for the Alliance for Lifetime Income.