Ask the Retirement Expert About Tricky Income-Planning Issues: Steve Parrish

Retirement involves both opportunities and risks, and it’s the job of financial advisors to help their clients navigate these two dynamics. To prepare clients for retirement, advisors have lots of tools at their disposal, but they also have to meet high expectations and cope with rapidly changing conditions.

In this third episode of Ask the Retirement Expert, ThinkAdvisor Editor-in-Chief Janet Levaux, speaks with Steve Parrish — adjunct professor of advance planning at the American College of Financial Services and co-director of the American College Center for Retirement Income — about some of the complex issues facing retirement planners today.

In this podcast, Parrish and Levaux discuss several tricky retirement-planning topics and the steps advisors can take to address them. The main themes include:

• How to help retirees who want to live in two different places.
• What “diminished capacity” is in the context of financial planning, and how advisors can best help clients in this situation.
• How key planning issues differ when working with pre-retirees vs retirees.
• The role of annuities in strategic income planning, and what it means for leaving a legacy.
• How life insurance can be used as a retirement planning vehicle, especially in the years before claiming Social Security.
• Tackling tax and inflation concerns for clients, and more! 

To listen to the first episode in this series, click here.