In today’s episode of Carson Group and PIMCO‘s Retirement Income Series, Dr. Wade Pfau dives into the 4% rule and other retirement planning strategies.

Wade is the founder of Retirement Researcher, a retirement-focused firm that uses modern and sound academic research to help clients build a retirement plan. He is also the RICP®️ Program Director at The American College.

After studying economics in college, Wade moved to Japan for 10 years. He worked at a university that was focused on pension systems in emerging markets. When he moved back to the U.S., he started studying for the CFA exams and studied the 4% rule for retirement. He wrote an article on the topic that received a lot of positive feedback. He has since written four books in the Retirement Researcher Guide Series.

In today’s episode, Wade talks with Jamie and Devin Ekberg, Senior Consultant and Education Advisor with PIMCO, about the evolution of the 4% rule, what advisors can do to educate people about retirement planning, probability-based planning vs. safety-first planning, changes in when Americans are claiming Social Security benefits and more.

Key Takeaways

  • Tax planning and tax-efficient distributions are playing a larger role in retirement plans.
  • The 4% rule has historically performed underperformed in countries other than the U.S. or Canada, and is now best treated more like a safe annuitization rate from an investment portfolio.
  • In recent years, there’s been a drop in the number of people claiming Social Security benefits before age 62, and a rise in the number of people delaying Social Security past full retirement age.


“I think advisors who can better meet the client with their concerns, and with a strategy that they’ll be comfortable implementing, will be best served in the long run to have the support of their clients.” – Dr. Wade Pfau


Carson Group is committed to advancing financial literacy. Schedule a consultation to learn how Carson can help you help your clients and grow your business. Visit PIMCO to learn more about the work it is doing in the retirement income planning space.

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