CW 687 - Jamie Hopkins - Retirement Risks, How To Plan Around Uncertainty For A Successful Retirement, The American College, RICP
Today\u2019s guest, Jamie Hopkins is considered to be one of the leading retirement plan experts in the United States. He holds the Larry R. Pike Chair in insurance and investments. He is an associate professor of taxation at The American College, Co-Director of New York Life Center for Retirement Income Programs, and the Developer of the Retirement Income Certified Professional Designation (RICP). He authored the book Retirement Risk: How to Plan Around Uncertainty for a Successful Retirement. He shares advice on the qualifications of a good financial planner, how new regulations will affect retirement product offerings and how adding real estate and home equity to your retirement plan can benefit individuals.\xa0
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Key Takeaways:
Jason\u2019s Editorial:
[6:04] \u201cDid People Who Bought Houses in the 70\u2019s Essentially Get the House for Free?\u201d
Jamie Hopkins Guest Interview:
[13:57] Are financial advisors required to operate under a fiduciary standard of care? (ERISA)
[16:50] Fiduciary care basically means working with the client\u2019s best interest in mind.
[19:33] The benefit of incorporating real estate into traditional retirement income plans.
[21:55] Advice on how to deal with the regulatory changes recently mandated by the Department of Labor (DOL).
[24:55] Today, robo-advice isn\u2019t capable of giving clients informed decisions.
[27:33] New regulations get added on top of existing ones instead of replacing the outdated regulations.
[32:16] Annuities were impacted by these new regulations but life insurance plans were not.
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Mentioned in This Episode: