321: How The RISA® Profile Tool is a Gamechanger for Retirement Income Planning with Alex Murguia
Retire With Purpose - The Retirement Podcast
Casey Weade
4.7 • 564 Ratings
🗓️ 10 October 2022
⏱️ 70 minutes
🧾️ Download transcript
Summary
Today, I'm speaking with Alex Murguia. Alex has worked to turn Dr. Wade Pfau's framework for retirement income planning into a quantifiable retirement income model, and the Retirement Income Style Awareness (RISA) Profile is the result of his hard work.
Before creating the RISA® Profile, Alex graduated from George Washington University with a doctorate in Clinical Psychology and served as a research fellow for the National Institute of Health before pursuing a formal career in finance. He joined McLean Asset Management as a scientist-practitioner and launched a financial planning software company, but soon found himself disillusioned by the lack of tools individuals could use to chart a course to a successful retirement, leading him to where he is now.
In today's episode, you'll find out how the RISA® Profile can help answer some of your most pressing questions when it comes to retirement, why we're biologically incapable of making sound financial decisions without a process in place, and why financial planning and retirement planning are not one and the same.
In this podcast interview, you'll learn:
- The common questions from many retirees that inspired Alex, Dr. Wade Pfau, and Bob French to create the RISA® Profile.
- How to confidently do your own research when it comes to investing and retirement planning.
- How strategic planning helps protect you from biased and irrational decisions.
- When (and how) to assess your financial plan and asset allocation.
- Alex's response to one of our Weekend Reading subscribers looking for guidance as a conservative investor.
Show Notes: Howardbailey.com/321
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Transcript
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| 0:00.0 | Welcome to the Retire with Purpose podcast, a show specifically designed to help free retirees and retirees maximize their financial confidence. |
| 0:14.4 | Casey Wheat is a certified financial planner and president of Howard Bailey Financial. |
| 0:18.3 | His newest book, Job Optional, is a Wall Street Journal |
| 0:21.5 | bestseller and is available now on Amazon and at Retirewithpurpose.com. He's your host on |
| 0:27.9 | Retire with Purpose. Hey, I'm Casey, and I believe in retirement strategies that are driven by |
| 0:34.0 | meaning and purpose. Join me this week and every week as we discuss thoughts and ideas |
| 0:40.3 | with some of today's foremost experts in the field of finance and retirement, as well as discussing |
| 0:46.2 | trending topics that could impact your bottom line. These discussions can help you make |
| 0:51.7 | better financial decisions so you can live the lifestyle you've always imagined and deserved. |
| 0:57.9 | Welcome to the show. |
| 1:02.5 | Today I'm speaking with Dr. Alex Mergea. |
| 1:06.0 | Alex has worked to turn Dr. Wade Fow's framework for retirement income planning into a quantifiable |
| 1:11.3 | retirement income model in the retirement income style awareness, otherwise known as RISA, |
| 1:16.7 | profile is the result of his hard work. Before creating the RISA profile, Alex graduated from |
| 1:23.3 | George Washington University with a doctorate in clinical psychology and served as a research |
| 1:28.5 | fellow for the National Institute of Health before pursuing a formal career in finance. |
| 1:33.5 | He joined McLean Asset Management as a scientist practitioner and launched a financial planning |
| 1:39.2 | software company, but soon found himself disillusioned by the lack of tools individuals could use |
| 1:45.6 | to chart a course to a successful retirement income strategy, leading him to where he is today. |
| 1:51.7 | In our episode, you're going to find out how the RISA profile can help answer some of your |
| 1:57.1 | most pressing questions when it comes to retirement. Why we're biologically |
| 2:01.0 | incapable of making sound financial decisions without a process in place and why financial |
... |
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