Today, I’m talking to Dr. Michael Finke, Professor of Wealth Management and the Frank M. Engle Distinguished Chair in Economic Security at the American College. He’s the Director of the Granum Center for Financial Security, and he’s been my professor a few times throughout my career. 

I’ve always been a huge fan of his academic, unbiased approach, and you’ve undoubtedly seen Michael’s work featured here in our Weekend Reading for Retirees email series over the years. He’s published over 50 peer-reviewed articles and is widely quoted in many leading consumer publications. 

In 2021, he co-authored a research paper titled, Guaranteed Income: A License to Spend with David Blanchett, a previous guest of the show, and also co-hosts the Wealth, Managed podcast with David as well. He’s been a tremendous resource to me and many others, and I’m thrilled to talk to him today.

In our conversation, Michael and I talk about how our eating and investing habits are so intertwined, how to find true happiness and your purpose in retirement, and how risk factors into your income planning, regardless of your risk tolerance.

In this podcast interview, you’ll learn:

• How Michael’s first career as a food consumption researcher influenced his economic perspective–and the correlation between healthy eating and investing.
• Why our society gets so distracted by outliers in economics and politics.
• How risk aversion influences everything we do in investing and retirement.
• Why annuities are being used more and more for wealth accumulation instead of lifetime income–and how this is changing the perception of annuities.
• Why so many people can’t stand to see the numbers in their bank accounts get smaller in retirement–even if they’re overfunded. 

Show Notes: RetireWithPurpose.com/371

Rate & Review the Podcast: RetireWithPurpose.com/review

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