How to Use Annuities for Lifetime Income - Wade Pfau & Michael Finke

Brad Pistole hosts Dr. Michael Finke and Dr. Wade Pfau to discuss how annuities optimize retirement income by providing guaranteed lifetime payouts, reducing sequence of returns risk, and replacing bonds in portfolios. They explain risk pooling through the "birthday cake analogy" and highlight the benefits of mortality credits, allowing retirees to spend more confidently. The discussion covers using multiple annuities for income layering, tax advantages, and the importance of personalized financial planning. They also introduce the *Retirement Income Style Awareness (RISA)®* tool to help retirees determine the best strategy for their needs, emphasizing expert guidance for a secure retirement.