This post #4 continues the series already begun of reviewing retirement income books
Post #1 - Introducing the Safety v. Risk in Retirement Series
Post #2 - Pensionize Your Nest Egg by Moshe Milevsky
Post #3 - Retirement Portfolios by Michael Zwecher
Of the three authors reviewed in this Safety v. Risk in Retirement series, Wade Pfau is the most academic as well as the best known. His book Redefining Retirement: A Safe and Secure Way Down The Mountain seems the most targeted to the financial planner and practitioner, rather than the retail prospective retiree.
This is the strongest of the three books, by a large margin. It is also the least “accessible” to the average retail investor. It is meant as a resource for professional practitioners.
Pfau clearly sets up the binary distinction between what he calls the “probability-based” approach to retirement and the “safety-fi…