New on the Pod
Ben Carlson spoke with Bob Pozen, Senior Lecturer at MIT Sloan, former executive at Fidelity and MFS, and bestselling author of Extreme Productivity, to discuss his controversial 90/10 retirement portfolio framework. They debate how much risk retirees really need to take, sequence-of-returns risk, whether today's higher bond yields change the equation, and why many investors may be holding too much in fixed income. They also explore the future of AI-driven productivity and what it could mean for long-term investors. (Listen)
Good Stuff This Week
Podcasts can be great learning tools, but the challenge is keeping up. Eppley, Founder & CEO of Silverstone Financial, breaks down 20 lessons from Michael Kitces’ Financial Advisor Podcast. The lessons span the life of an independent RIA all the way from founding to succession. In the end, “Financial planning is a helping profession.”
There is a big difference between kind and wicked environments. Maurer argues that wealth management, in particular, is a wicked environment. This is due, in part, to the many interactions between humans and the broader world. There may be parts of wealth management that are more ‘kind’ than others, but in totality it is a challenge to keep with a volatile world and even more volatile people.
The Rest of the Story
“Schwab, Fidelity and JP Morgan are set to prevail in a war for the right to charge investors perhaps billions of dollars to use their own data to understand their financial transactions.” (RIABiz)
Using personalized lifetime estimation for retirement. (Kitces)
Uncle Sam’s Cut: A Century of the Federal Tax Drag on US Equity Returns. (SSRN)
The father of the 401(k) plan has a new savings plan. (Wealth Management)
A talk with Ryan Frederick, founder and CEO of HERE, with a research-based approach to help people find the right place for every stage of life. (The Long View)
What belongs on your “real-life” registry? (The Joint Account)
The economy is just a VIP list now. (Hanna Horvath)