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PFP1918 - Optimizing Retirement Income by Combining Actuarial Science and Investments

Jun 11, 2019 8:00am ‐ Jun 11, 2019 9:15am

Standard: $49.00


As the baby boomers reach retirement, advisors must solve new problems for clients. Retirement income is different as clients shift their focus from maximizing wealth to creating sustainable income, clients face a greater range of risks, and clients increasingly must solve a lifetime problem which extends far beyond traditional investment theory. Key retirement risks include longevity risk, heighted market risk, and personal spending shock risks. Each risk requires different income tools and risk management techniques. Investments alone and insurance alone may not be adequate to build a comprehensive retirement income strategy. More efficient retirement income solutions can be obtained through careful efforts to combine investment portfolios, income annuities, and whole life insurance into an overall retirement income plan. 

Learning Objectives:

  1. Understand how risks change in retirement.
  2. Evaluate the roles of risk pooling and risk premium in building retirement income plans.


  • Wade D. Pfau, PhD, CFA, Professor of Retirement Income, The American College

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