Michael Fink, Ohio State University, Johnny Dean discussed on The Ray Lucia Show


Johnny dean, John. Hey, I saw not only twenty six percent of Americans are retirement literate had you seen that actually did Forbes this morning, and I was going to write something about it. But I hate to do that. Because it sounds like it's it's sounds like bad news to people like they eat it. They feel stupid or they're not ready for retirement, and I wanna start on a down note. But that that's shocked. I was actually going to write an article seventy six percent of American our retirement, illiterate literate. All right. Well, that's good. You know, at least I think that's how they consider themselves. I wonder you know. Yes. I don't doubt that one bit. I guess it depends on how you define literate people say, so many people think they've got it. Right. In fact, it's right on topic is a lot of J. Johnny. And I don't really talk about what we're going to talk just show up. Well, no, you're lots of time. You have your I have my guess sort of meld together. I. Oh, lord. All right there mountain dew. No, it does depend on how you define retirement. And I was going to get to this. I don't know if I can do it right now because they can't get it in my hot little hands. It might be for next hour. But RBC actually did a study on this whole retirement literacy thing, and what retirement is going to look like in the future. And it's quite fascinating. When you read it way, the future or like for people like you who are looking at the next thirty forty years think about what what retirement is gonna look like when you're eighty five years old and thirty years from that hobby thirty years, I'll be eighty five Allen tell you what I'll be thirty thirty years ago. I was twenty five that wasn't that long ago. So so let's let's talk about this. The other day, we talked about protecting your retirement against stock market crashes today in that thing along that same lines. I keep coming back to this. Why bond funds don't belong in your retirement portfolio? Oh, why you need a system to create a paycheck in retirement? But I start today with oh, there's another one is it time to bail on bonds. But I want to start with this because I don't think anybody is going to argue with these credentials. Okay. Let's see chief academic officer at the American college of financial services. Former director of retirement planning and living center at Texas Tech university, a research fellow for the alliance for lifetime income PHD in consumer economics from the Ohio State University and in finance from the university of Missouri. He's the twenty thirteen in two thousand fourteen recipient of the Montgomery wash our award for the most influential paper in financial planning and the 2017 CFP board center for financial planning best paper award in investments. Hey me too. I've done all that. Thank you very much. I'm proud to the honor. Oh, come on. We're talking about Michael Fink. He's a brilliant guy PHD and a whole bunch of other the Ohio State University. Say. All right. So he's a true Buckeye sit back folks, relax..

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