Johns interviews Michael Finke, PhD and Professor at Texas Tech University and The American College of Financial Services about the challenges and opportunities for retirees today. With such low yields, increasing longevity and health care costs and potentially rises taxes, retirees faces a unique set of challenges, which can at times feel very daunting. Fortunately, given his extensive research, Michael shares a number of helpful insights for those looking to better invest and spend their money. 

During the episode, Michael talks about:

• Income replacement rates, or how much a pre-retiree should actually be trying to accumulate based on their spending patterns in their working years
• Safe withdrawals rates for retirees so they balance spending money from their investments without running amount of money 
• Retirement happiness and ways in which spending can increase or decrease our happiness throughout life 

At the end, Michael also talks about how we should be vigilant about our aging parents, or even ourselves as we get older, since we often experience a lot of cognitive decline but rarely feel any loss of confidence in our old age. 

A big thank you to Michael for joining John on the show! 

For more information, you can check out https://www.theamericancollege.edu/our-people/faculty/michael-finke and https://www.thejohnchapmanshow.com/.