Alex Murguia's guest appearances

Alex Murguia

Standard Deviations with Dr. Daniel Crosby

Fintech Impact

Retire With Purpose - The Retirement Podcast

That Annuity Show

OwlTail

Wade Pfau

Jason talks to Alex Murguia and Wade Pfau, co-founders of RISA. It is an online questionnaire and tool for helping determine what an individual's retirement styles are like and specifically helping advisors steer them toward the type of retirement solutions that help ensure that they both succeed, but also that they are comfortable and their preferences on how they wish to retire or how they wish their income to be general in retirement come about.Episode Highlights01:05: The risk that people face in retirement is different from pre-retirement, with the sequence of returns, risk, and market returns.04:46: Alex shares how they took reoccurring constructs and then wondered could they quantify them that were reliable and in a manner that was valid.06:28: Jason is not a big fan of bucketing, but for some clients like visualizing and understanding that might be the difference between them panicking and being comfortable.08:41: Alex informs that they have an implementation matrix, which is how someone prefers to implement financial advice.11:07: You always have to overlay the numbers; the advisor has to help you sort of curate through that journey.19:23: As per Alex there is no annuity proposal in much the same way that there is no like government worker puzzle in the United States.22:23: The distribution of advisor preference largely comes down to licensing standards.24:38: The best salespeople are the people that get to close loss the soonest.38:12: As per Jason, people spend a lot of time these days talking about understanding client bias.3 Key PointsAlex explains how they kind of take a step back and say what strategy is the one you should begin with when it comes to retirement planning? People either need safety or they won't accept risk, and they are different degrees of willing to basically lock themselves into something, so it's static.The first step of retirement income planning is to identify your retirement style and then build your financial plan and then take your risk tolerance questionnaire and choose your asset allocation and so forth.Tweetable Quotes"With COVID after reading a certain amount and collecting notes, we realized that there were certain constructs that seemed to be reoccurring motifs." – Alex"We all have different risk tolerances. We all have different preferences for security." - Jason"I may, as a consumer, have not known that there are different strategies that there are and here is the strategy that looks like it does fit best with my own psychological considerations and makeup." - Wade"The end consumer doesn't realize that there are options available to themselves for different retirement income strategies." - Alex"There are a few things that in research frustrate me more than trying to break an advisor value down to a percentage cases per year." – JasonResources MentionedFacebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – Sponsorhttps://retirementresearcher.com/about/Podcast Editing Hosted on Acast. See acast.com/privacy for more information.

Jason talks to Alex Murguia and Wade Pfau, co-founders of RISA. It is an online questionnaire and tool for helping determine what an individual's retirement styles are like and specifically helping advisors steer them toward the type of retirement solutions that help ensure that they both succeed, but also that they are comfortable and their preferences on how they wish to retire or how they wish their income to be general in retirement come about.Episode Highlights<ul><li>01:05: The risk that people face in retirement is different from pre-retirement, with the sequence of returns, risk, and market returns.</li><li>04:46: Alex shares how they took reoccurring constructs and then wondered could they quantify them that were reliable and in a manner that was valid.</li><li>06:28: Jason is not a big fan of bucketing, but for some clients like visualizing and understanding that might be the difference between them panicking and being comfortable.</li><li>08:41: Alex informs that they have an implementation matrix, which is how someone prefers to implement financial advice.</li><li>11:07: You always have to overlay the numbers; the advisor has to help you sort of curate through that journey.</li><li>19:23: As per Alex there is no annuity proposal in much the same way that there is no like government worker puzzle in the United States.</li><li>22:23: The distribution of advisor preference largely comes down to licensing standards.</li><li>24:38: The best salespeople are the people that get to close loss the soonest.</li><li>38:12: As per Jason, people spend a lot of time these days talking about understanding client bias.</li></ul> 3 Key Points<ol><li>Alex explains how they kind of take a step back and say what strategy is the one you should begin with when it comes to retirement planning? </li><li>People either need safety or they won't accept risk, and they are different degrees of willing to basically lock themselves into something, so it's static.</li><li>The first step of retirement income planning is to identify your retirement style and then build your financial plan and then take your risk tolerance questionnaire and choose your asset allocation and so forth.</li></ol> Tweetable Quotes<ul><li>"With COVID after reading a certain amount and collecting notes, we realized that there were certain constructs that seemed to be reoccurring motifs." – Alex</li><li>"We all have different risk tolerances. We all have different preferences for security." - Jason</li><li>"I may, as a consumer, have not known that there are different strategies that there are and here is the strategy that looks like it does fit best with my own psychological considerations and makeup." - Wade</li><li>"The end consumer doesn't realize that there are options available to themselves for different retirement income strategies." - Alex</li><li>"There are a few things that in research frustrate me more than trying to break an advisor value down to a percentage cases per year." – Jason</li></ul> Resources Mentioned<ul><li><a href="https://www.facebook.com/jason.pereira" rel="noopener noreferrer nofollow" target="_blank">Facebook</a> – Jason Pereira's Facebook</li><li><a href="https://www.linkedin.com/in/pereirajm?trk=org-employees_mini-profile_title" rel="noopener noreferrer nofollow" target="_blank">LinkedIn</a> – Jason Pereira's LinkedIn</li><li><a href="https://www.woodgate.com/#plan-prosper-preserve-financial-planning-toronto" rel="noopener noreferrer nofollow" target="_blank">Woodgate.com</a> – Sponsor</li><li><a href="https://retirementresearcher.com/about/" rel="nofollow" target="_blank">https://retirementresearcher.com/about/</a></li><li><a href="https://barevalue.com/podcast-editing" rel="noopener noreferrer nofollow" target="_blank">Podcast Editing</a></li></ul> Hosted on Acast. See <a href="https://acast.com/privacy" rel="noopener noreferrer nofollow" target="_blank">acast.com/privacy</a> for more information.

RISA with Alex Murguia and Wade Pfau | E275

Tune in to hear:- What are some of the accomplishments of financial psychology thus far and where should we be headed next?- Why does Wade diverge from a lot of the popular thinking around insurance products and what does the industry get wrong when it comes to these products and retirement income?- Is it safe to say that a lot of the benefit of these “unpopular tools” is behavioral in nature? - What question was Wade hoping to answer when he dove into RISA (Retirement Income Style Awareness) research at a high level?- In their research did Wade and Alex find any sort of overlap with factors like risk composure or are the retirement styles a separate beast?- Learn more about the psychology of decumulation and how an awareness of someone’s retirement income style preferences could help you solve for the particular complications of distribution- Are the four retirement income styles distributed pretty evenly amongst the population or are some particularly popular or unpopular? How greatly would their advice shift from one style to another?- Did Alex and Wade note any gender differences across proclivities towards the different retirement income styles?https://risaprofile.comCompliance Code: 2105-OAS-11/3/2022

Tune in to hear:- What are some of the accomplishments of financial psychology thus far and where should we be headed next?- Why does Wade diverge from a lot of the popular thinking around insurance products and what does the industry get wrong when it comes to these products and retirement income?- Is it safe to say that a lot of the benefit of these “unpopular tools” is behavioral in nature? - What question was Wade hoping to answer when he dove into RISA (Retirement Income Style Awareness) research at a high level?- In their research did Wade and Alex find any sort of overlap with factors like risk composure or are the retirement styles a separate beast?- Learn more about the psychology of decumulation and how an awareness of someone’s retirement income style preferences could help you solve for the particular complications of distribution- Are the four retirement income styles distributed pretty evenly amongst the population or are some particularly popular or unpopular? How greatly would their advice shift from one style to another?- Did Alex and Wade note any gender differences across proclivities towards the different retirement income styles?<a href="https://risaprofile.com" rel="nofollow" target="_blank">https://risaprofile.com</a>Compliance Code: 2105-OAS-11/3/2022

Alex Murguia and Wade Pfau - The Four Retirement Income Styles

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: RetireWithPurpose.com/321 Rate &amp; Review the Podcast: RetireWithPurpose.com/review Sign Up to Casey's Weekend Reading Email! Sifting through the copious amount of conflicting financial advice and retirement information can be daunting - but it doesn't have to be! Each week, Casey makes it super easy. He hand-picks 4 of the most important articles you need to read, that are beneficial to you whether you're at, near, or in retirement! If you want them sent straight to your inbox, sign up by visiting RetireWithPurpose.com/weekend-reading

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: <ul> <li>The common questions from many retirees that inspired Alex, Dr. Wade Pfau, and Bob French to create the RISA® Profile.</li> <li>How to confidently do your own research when it comes to investing and retirement planning.</li> <li>How strategic planning helps protect you from biased and irrational decisions.</li> <li>When (and how) to assess your financial plan and asset allocation.</li> <li>Alex’s response to one of our Weekend Reading subscribers looking for guidance as a conservative investor.</li> </ul> Show Notes: <a href="https://retirewithpurpose.com/321" rel="noopener nofollow" target="_blank">RetireWithPurpose.com/321</a> Rate &amp; Review the Podcast: <a href="http://retirewithpurpose.com/review" rel="noopener nofollow" target="_blank">RetireWithPurpose.com/review</a> Sign Up to Casey's Weekend Reading Email! Sifting through the copious amount of conflicting financial advice and retirement information can be daunting - but it doesn't have to be! Each week, Casey makes it super easy. He hand-picks 4 of the most important articles you need to read, that are beneficial to you whether you're at, near, or in retirement! If you want them sent straight to your inbox, sign up by visiting <a href="https://retirewithpurpose.com/weekend-reading/" rel="noopener nofollow" target="_blank">RetireWithPurpose.com/weekend-reading</a>