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The Investments & Wealth Institute Exceptional Advisor podcast series provides financial professionals the latest information on how advisors can better serve their clients, differentiate themselves from the competition, and improve their ability to communicate the competencies that make them exceptional. Listeners will enjoy interviews with some of the world's leading financial services experts and practitioners.

  1. All Episodes
  2. Retirement Trends and Challenges

Retirement Trends and Challenges

Feb 8, 2024

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In this roundtable discussion, experts Anna Rappaport, Rob Austin, and Michael Doshier provide insights on key retirement issues including spending patterns, debt levels, housing costs, family support, and using products like annuities and reverse mortgages.
 
Key takeaways:
- Retiree spending declines on average 2% per year, but is often "lumpy" with large one-time expenses
- Housing represents the biggest expense for retirees, but many fail to incorporate home equity into financial plans
- More retirees carry debt and support adult children financially than in the past
- Annuities and reverse mortgages remain underutilized due to complexity, lack of advisor expertise  
 
The experts emphasize the need for holistic planning that accounts for healthcare, housing, family obligations, and other qualitative factors - not just portfolio returns. They advise financial advisors to take an expansive view when working with retiree clients.