Michael Kitces is a partner and the director of Wealth Management for Pinnacle Advisory Group, co-founder of the XY Planning Network, and publisher of the continuing education blog for financial planners, Nerd’s Eye View. You can follow him on Twitter at @MichaelKitces.
Karen Wallace: Hi, I'm Karen Wallace for Morningstar. No one wants to run out of money while they are in retirement. Often the logic that goes into determining portfolio withdrawal rates in retirement weights this risk rather heavily. The thinking is that it's prudent to keep spending conservative and think of the upside as the icing on the cake. But are we putting too much emphasis on that downside risk? Here to discuss this is Michael Kitces. He is a financial planning expert.