Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®
Business:Investing
Interesting parallels can be seen in modeling retirement projections and the Coronavirus pandemic. Small changes to inputs -- such as the rate of return or infection spread rates -- can have magnified effects on outputs -- such as ending wealth or total infections (and ultimately deaths), given similar exponential growth traits.
What is important to understand in both are the concepts of risk and uncertainty. Risk can be modeled. Uncertainty cannot yet must be planned for. Misunderstand either and things can quickly go wrong.
Hear Kevin discuss these two critical concepts. He also gives his opinion on why Ohio Governor Mike Dewine was prudent in the aggressive economic shut down in face of Coronavirus uncertainty. However, Ohio, and the U.S. at large, now need to transition back to economic functioning in light of Coronavirus risks being better understood, significantly less than what was initially believed, and to avoid second-order effects becoming more severe than those from the virus itself.
Timestamps:
3:45 - How Risk And Uncertainty Affect Investing
14:37 - What Is Non-Linear Modeling?
17:32 - An Example Of Non-Linear Modeling
21:33 - The Math And Science Of The Coronavirus
35:09 - Known Unknowns
Retirement "Magic Numbers" Make Little Sense
Real Estate, Taxes, & College Oh My!
Historic Changes To The Residential Real Estate Industry Will Be Good For You (And Are Similar To Changes Occur-ring In Financial Advice)
How to Avoid A Surprise Bill at Tax Time
Smarter Ways To Financially Help Your Children & Grandchildren
How Risky of An Investor Are You?
What Do Clients Value Most in A Financial Advisor?
How to Plan for RMDs (Required Minimum Distributions)
New Year’s Resolutions – Better Yet Goals for Financial Success In 2024
When Taking Social Security Early Makes Sense
Constructing a Portfolio in Retirement
8% Safe Withdrawal Rate In Retirement? What!!
The Early Years of Retirement: Navigating Healthcare, Finances, and Tax Strategies
Yearend Financial Check-up & Tax Moves
Retirement Nest Egg: Having Enough & Making Sure It Lasts
Avoid Losing $17K Yearly From Bad Investment Decisions
Should Retirees Change Their Portfolio Strategy Based On Predictions of the US Dollar’s Demise?
How Tax-Smart Income Targeting Can Allow You To Retire Earlier While Saving Taxes
Income Targeting - Should We Even Care About IRMAA?
Do You Have Unrealistic Portfolio Return Expectations?
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