{"title":"The Retirement Researcher Guide","description":null,"products":[{"product_id":"how-much-can-i-spend-in-retirement-book-wade-d-pfau-9781945640025","title":"How Much Can I Spend in Retirement?","description":"\u003cp\u003eDeciding how much to spend from your investment portfolio in retirement is an important complicated task. This book guides you through the process of determining a \u003cb\u003ereasonable spending rate\u003c\/b\u003e that will strike the balance between \u003cb\u003eenjoying your early retirement years\u003c\/b\u003e while preserving enough to be \u003cb\u003ecomfortable later in retirement\u003c\/b\u003e.\u003c\/p\u003e\u003cp\u003eHow much can you spend in retirement? Naturally, this is an essential question for those approaching this important life transition. If you wish to retire one day, you are increasingly responsible for figuring out how to save during your working years and convert your savings into sustainable income for an ever-lengthening number of retirement years. The nature of risk also changes in retirement, as the lifestyle of retirees become more vulnerable to the impacts of market volatility, unknown longevity, and spending shocks. Retirees have one opportunity to build a successful plan. It is not an easy task, but it is manageable and I will explain how to do it.\u003c\/p\u003e\u003cp\u003eI walk you through the findings of a large body of financial planning research regarding sustainable spending from investment portfolios in the face of a variety of retirement risks. That body of research tends to begin with the 4 percent rule of thumb for retirement spending. I explain how and why it was developed, what it means, and when it may or may not be appropriate for you. \u003c\/p\u003e\u003cp\u003eI have reservations about the 4 percent rule. It may be too aggressive for current retirees for reasons including increasing longevity, historically low interest rates, high stock market valuations, the impact of the international experience with the 4 percent rule, the need to maintain a rather aggressive asset allocation, and because the 4 percent rule assumes that investors do not pay any fees or otherwise underperform the markets.\u003c\/p\u003e\u003cp\u003eOther factors suggest that sustainable spending may be higher. Reasons include that actual retirees may tend to reduce their spending with age, that they build more diversified portfolios than used in the basic research studies, that real-world retirees may be willing to adjust spending for realized portfolio performance, and that some retirees may have the capacity and tolerance to accept higher portfolio failure probabilities because they have other sources of reliable income from outside their portfolios.\u003c\/p\u003e\u003cp\u003eOther matters you will learn about is how to analyze a variety of variable spending strategies and how to create a bucketing strategy that uses bonds to support short-term spending needs and uses stocks and other growth assets to support longer-term spending goals.\u003c\/p\u003e\u003cp\u003eRetirees need to weigh the consequences between spending too little and spending too much-that is, being too frugal or running out of assets. This book is about implementing what I call the probability-based school of thought for retirement planning. It is especially relevant for people who plan to fund their retirements using an investment portfolio and those who are hesitant about using annuities or other insurance products. For those considering annuities, I suggest my book, \u003ci\u003eSafety-First Retirement Planning\u003c\/i\u003e, which is also in \u003cb\u003eThe Retirement Researcher's Guide Series\u003c\/b\u003e. For now, we have plenty to discuss about investing for retirement.\u003c\/p\u003e\u003cp\u003eHow did I come to write this book? After completing my Ph.D. in Economics from Princeton University with a dissertation about Social Security reform, I become an economics professor who studied the pension systems in different countries. Eventually I gravitated toward individual retirement planning and now work with unique job title of Professor of Retirement Income and as director of the Retirement Income Certified Professional(R) designation for financial advisors. This requires me to be agnostic and to search for the best from different retirement income styles.\u003cbr\u003e \u003c\/p\u003e","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49573401329937,"sku":"GOR011863653","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":50274729328913,"sku":"CIN1945640022VG","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ NEW \/ INGRAM","offer_id":51052736446737,"sku":"NIN9781945640025","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ GOOD \/ SBYB","offer_id":52107732287761,"sku":"CIN1945640022G","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1945640022.jpg?v=1751219103"},{"product_id":"reverse-mortgages-book-wade-d-pfau-ph-d-9781945640049","title":"Reverse Mortgages","description":"\u003cp\u003eThis book provides an up-to-date understanding about reverse mortgages and how to use them as part of a \u003cb\u003ecomplete and responsible retirement plan\u003c\/b\u003e. Those who understand whether and how to fit a reverse mortgage into their retirement plan will have \u003cb\u003ean important edge in achieving a financially secure retirement\u003c\/b\u003e.\u003c\/p\u003e\u003cp\u003eThis book is special as I do not work in the reverse mortgage industry and am not trying to sell you a reverse mortgage. Rather, I am a Professor of Retirement Income and director of the Retirement Income Certified Professional(R) designation for financial advisors. I am also the Retirement Researcher. These roles require me to be agnostic and to search for the best from different retirement income styles and tools. This is what led me down the path of studying reverse mortgages and the role they can play in well-constructed and thoughtful retirement income plan. My perspective is on how to build strong retirement plans, and this is the perspective I bring to reverse mortgages.\u003c\/p\u003e\u003cp\u003eReverse mortgages have been surrounded by negativity. They were often mentioned alongside phrases like last resort, out of money, and bad choice. My attention was drawn to reverse mortgages to give them an in-depth study. I concluded that reverse mortgages are not inherently a bad idea, though they are often misunderstood and not used in a most beneficial way. I realized that reverse mortgages---when used correctly---can provide an added layer of security for retirees and allow them to enjoy retirement more by having greater flexibility for their assets. Opening a reverse mortgage earlier in retirement and using it in a strategic manner is generally more effective that treating a reverse mortgage as a last resort option only to be considered when all else has failed. \u003c\/p\u003e\u003cp\u003eAfter providing an overview of retirement income planning, which sets the context for understanding the potential role of reverse mortgages, I will give you a firm understanding about the basics for how reverse mortgages work. You will understand why they work better when interest rates are low (unlike every other retirement tool), the potential for line of credit growth, and their ability to help manage sequence of returns risk for investment assets. Then I dive into their flexibility and many potential uses: \u003c\/p\u003e\u003cul\u003e\u003cli\u003eUse to refinance your traditional mortgage so you do not have fixed mortgage payments chomping away at your retirement assets in your early retirement years\u003c\/li\u003e\u003c\/ul\u003e\u003cul\u003e\u003cli\u003eUse to fund home renovations to support aging in place and allow you to stay in your home for longer\u003c\/li\u003e\u003c\/ul\u003e\u003cul\u003e\u003cli\u003eUse the Home Equity Conversion Mortgage (HECM) for Purchase program to obtain a new primary residence while reducing the strain on your other assets to cover the cost\u003c\/li\u003e\u003c\/ul\u003e\u003cul\u003e\u003cli\u003eCoordinate spending from your reverse mortgage line of credit with your other investment assets to better manage the risks associated with a downturn in the financial markets\u003c\/li\u003e\u003c\/ul\u003e\u003cul\u003e\u003cli\u003eUse as a bridge to help cover spending while delaying your Social Security benefits to get the most lifetime value from Social Security\u003c\/li\u003e\u003c\/ul\u003e\u003cul\u003e\u003cli\u003eUse as a spending source to avoid shifting into a higher tax bracket or to pay for the taxes on strategic Roth conversions\u003c\/li\u003e\u003c\/ul\u003e\u003cul\u003e\u003cli\u003eUse to pay premiums on existing long-term care insurance policies to avoid lapsing if there is a premium increase\u003c\/li\u003e\u003c\/ul\u003e\u003cul\u003e\u003cli\u003eUse the growing line of credit as a protective hedge for your home value\u003c\/li\u003e\u003c\/ul\u003e\u003cul\u003e\u003cli\u003eUse the growing line of credit as a source of reserves to cover unexpected bills or to divide the home value as part of a divorce settlement\u003c\/li\u003e\u003c\/ul\u003e","brand":"WoB","offers":[{"title":"US \/ GOOD \/ SBYB","offer_id":49757560439057,"sku":"CIN1945640049G","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":50457469059345,"sku":"CIN1945640049VG","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ WELL_READ \/ SBYB","offer_id":51332739891473,"sku":"CIN1945640049A","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1945640049.jpg?v=1751381023"},{"product_id":"reverse-mortgages-book-wade-d-pfau-ph-d-9781945640124","title":"Reverse Mortgages","description":"\u003cp\u003e\u003cb\u003e*This is the Updated 2024 Edition Made Available in January 2024*\u003c\/b\u003e Reverse mortgages are an important retirement planning tool. This book provides an up-to-date understanding about reverse mortgages and how to use them as part of a \u003cb\u003ecomplete and responsible retirement plan\u003c\/b\u003e.\u003c\/p\u003e\u003cp\u003eI am a professor of retirement income. I may be the only author of a reverse mortgage book who does not work within the reverse mortgage industry. My focus is on finding ways to build strong retirement plans, and this is the perspective I bring to reverse mortgages.\u003c\/p\u003e\u003cp\u003eI know that reverse mortgages can look expensive in isolation. But reverse mortgages should not be viewed that way. We need to focus on their overall contribution and interactions with other retirement assets as well.\u003c\/p\u003e\u003cp\u003eRetirement is different from what people are accustomed to when working. Risks change. Retirees must sustain spending while not knowing how long their funds need to last, while managing the risks of a market downturn that can permanently derail a retirement portfolio, and while also being ready to manage unexpected spending surprises.\u003c\/p\u003e\u003cp\u003eReverse mortgages can help to manage these retirement risks by providing an additional resource to support spending and to coordinate with other investments assets.\u003c\/p\u003e\u003cp\u003eMy overarching interest is in building efficient retirement income plans to support the most spending potential for assets, both during life and as a legacy for the next generation. I demonstrate with case studies how reverse mortgages can contribute to better retirement outcomes in numerous ways: \u003c\/p\u003e\u003cp\u003e- Coordinate between spending from the investment portfolio and from the reverse mortgage to better protect investments from market volatility\u003c\/p\u003e\u003cp\u003e- Avoid the additional burden of fixed mortgage payments in retirement by refinancing a traditional mortgage with a reverse mortgage\u003c\/p\u003e\u003cp\u003e- Pay for home renovations to help you comfortably age in place with the home you love\u003c\/p\u003e\u003cp\u003e- Build a bridge to support getting the most lifetime value from Social Security benefits\u003c\/p\u003e\u003cp\u003e- Use the reverse mortgage as a tax-free spending resource to better manage your taxable income\u003c\/p\u003e\u003cp\u003e- Use the growing line of credit as a protective hedge for your home value or as a source of reserves to cover unexpected spending needs\u003c\/p\u003e\u003cp\u003eThis book provides the basics for how reverse mortgages work, why they work better when interest rates are low (unlike every other retirement tool), what their growing line of credit means, and how they help to manage investment volatility.\u003c\/p\u003e\u003cp\u003eReverse mortgages---when used correctly---can provide an added layer of security for retirees by creating flexibility for their assets. Opening a reverse mortgage earlier in retirement and using it in a thoughtful manner is generally more effective that treating it only as a last resort option.\u003c\/p\u003e\u003cp\u003eThose who understand whether and how to fit a reverse mortgage into their retirement plan will have \u003cb\u003ean important edge in achieving a financially secure retirement\u003c\/b\u003e. 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It has played a role in the worship of deities and saints, and even in a non-religious context, such as yoga, meditation, and spiritual self-transformation. Also if are interested in Indian culture, playing mantras will evoke a deep resonance in your heart. This songbook is suitable for any keyboard musical instrument: piano, synthesizer, accordion, melodica, even for percussion instruments such as xylophone or marimba. This book is for adults who are absolute beginners in music. You don't have to read sheet music or have any kind of musical background. If you are a beginner, playing by notes can be difficult. It is easier to begin to play by following letters. You just need to get and apply stickers with the note letters on your piano keys. Also, I added a QR code to all songs. Follow the link and listen to the rhythm before beginning to play. 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