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Ok, don't kill the newbie for the stupid question but who is Wade Pfau?
11-17-2015, 06:47 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Mar 2015
Location: philly
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Ok, don't kill the newbie for the stupid question but who is Wade Pfau?
Who is Wade pfau?
LOL, I did "google" the man and basically it says he's a professor at American College but is he like the Pied Piper of the retirement world.
I see him quoted often here.
BC
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11-17-2015, 06:51 AM
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#2
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 Quote:
Originally Posted by bclover
Who is Wade pfau?
LOL, I did "google" the man and basically it says he's a professor at American College but is he like the Pied Piper of the retirement world.
I see him quoted often here.
BC
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I agree with you but I would appreciate if you could actually put the full question and not just a teaser in the thread subject. It drives me nuts when people use thread titles that give no clue as to the content.
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11-17-2015, 07:01 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Feb 2006
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Wade Pfau is a guy who likes to play with his software and numbers. He does a lot of interesting modeling for different withdrawal strategies and asset allocations. You might not agree with everything he proposes, but you can learn a lot from his papers.
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“So we beat on, boats against the current, borne back ceaselessly into the past.”
Current AA: 75% Equity Funds / 15% Bonds / 5% Stable Value /2% Cash / 3% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
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11-17-2015, 07:04 AM
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#4
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Administrator
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Quote:
Originally Posted by bclover
Who is Wade pfau?
LOL, I did "google" the man and basically it says he's a professor at American College but is he like the Pied Piper of the retirement world.
I see him quoted often here.
BC
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Yes, he is quoted often, because he is an academic and specialist in retirement finance, a topic near and dear to all of us. His work has been thoroughly discussed here, I would suggest you do a forum search for threads with "Pfau" in the title, you will see a number of threads discussing specific publications of his.
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11-17-2015, 07:12 AM
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#5
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He is an annuity salesman with an increasingly thin veneer of academic respectability.
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11-17-2015, 07:15 AM
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#6
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11-17-2015, 07:16 AM
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#7
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by MichaelB
Yes, he is quoted often, because he is an academic and specialist in retirement finance, a topic near and dear to all of us. His work has been thoroughly discussed here, I would suggest you do a forum search for threads with "Pfau" in the title, you will see a number of threads discussing specific publications of his.
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Thanks to whoever updated the thread subject title. Being able to search is another good reason for making descriptive and accurate titles.
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11-17-2015, 08:08 AM
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#8
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Administrator
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Quote:
Originally Posted by RunningBum
Thanks to whoever updated the thread subject title. Being able to search is another good reason for making descriptive and accurate titles.
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+1
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11-17-2015, 08:13 AM
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#9
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by brewer12345
He is an annuity salesman with an increasingly thin veneer of academic respectability.
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+1. Some of Pfau's earlier papers were enlightening IMO, but he seems to have gone headlong into the above as described by brewer12345.
Even (my former investing idol) Dr Bernstein seems to have been rattled by how many of his private investors panicked during the 2008-09 meltdown...
Oh how the mighty have fallen?
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11-17-2015, 08:14 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Mar 2015
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Quote:
Originally Posted by RunningBum
I agree with you but I would appreciate if you could actually put the full question and not just a teaser in the thread subject. It drives me nuts when people use thread titles that give no clue as to the content.
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Not a problem. sorry about that.
BC
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11-17-2015, 08:31 AM
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#11
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Full time employment: Posting here.
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Quote:
Originally Posted by brewer12345
He is an annuity salesman with an increasingly thin veneer of academic respectability.
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Does come across the same to me. I take into consideration where he teaches/who they teach...
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11-17-2015, 08:33 AM
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#12
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i prefer the work of michael kitces .
pfaus research seems to always have an annuity theme . which he changes his opinion on frequently .
remember how the rising glide path was the great fixer . then it was pointed out by guyton how bad a time this is from a bond perspective as opposed to looking at it from stocks and wade agreed .
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11-17-2015, 08:53 AM
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#13
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I am not sure why the Evil Dr. Pfau is taken seriously as an academic. He is free to say or publish whatever he likes, but to regard him as a scholar? Please. Annuity salesman who isn't smart enough to make sure he gets commissions on any sale.
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Ezekiel 23:20
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11-17-2015, 09:19 AM
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#14
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Quote:
Originally Posted by mathjak107
i prefer the work of michael kitces .
pfaus research seems to always have an annuity theme . which he changes his opinion on frequently .
remember how the rising glide path was the great fixer . then it was pointed out by guyton how bad a time this is from a bond perspective as opposed to looking at it from stocks and wade agreed .
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+1 on Kitces and Guyton. Two people who are informed by real life in addition to all the back testing they do.
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11-17-2015, 10:06 AM
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#15
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Dr. Pfau does seem less interesting these days, IMHO. Or am I just getting smarter and thus harder to impress? Time will tell.
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The worst decisions are usually made in times of anger and impatience.
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Ok, don't kill the newbie for the stupid question but who is Wade Pfau?
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11-17-2015, 10:22 AM
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#16
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Ok, don't kill the newbie for the stupid question but who is Wade Pfau?
Pfau's the guy telling me I'm going to go broke before I die.
Sent from my iPad using Early Retirement Forum
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11-17-2015, 10:34 AM
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#17
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Quote:
Originally Posted by Chuckanut
Dr. Pfau does seem less interesting these days, IMHO. Or am I just getting smarter and thus harder to impress? Time will tell.
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I think there's a limit to how much truly novel work one can do around SWR strategies and much of the low hanging fruit has already been picked. We talk an incredible amount about AA and withdrawal rules but these have a minimal impact compared to just lowering your withdrawal percentage.
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11-17-2015, 10:39 AM
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#18
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by brewer12345
He is an annuity salesman with an increasingly thin veneer of academic respectability.
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I think that is a really good description.
His best work is when occasional co-author Kitces gets involved. Kitces challenges his pro-annuity assumptions.
Pfau's papers are very repetitive, so he must operate under a "publish or perish" mandate.
I just follow Kitces more or less.
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11-17-2015, 11:57 AM
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#19
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Give me a museum and I'll fill it. (Picasso)
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The real question for me is - how do you pronounce these names? Is it just coincidence that neither are obvious pronunciations?
Pfau? Silent "p" I assume? Fow (rhymes with How?)? Or Foe (rhymes with Toe?)?
Kitces? "C" like an "S"? "Kit" as in "Kitten", or as in "Kite"? End in "-esss" or "ezzz" or "issss"?
-ERD50
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11-17-2015, 11:59 AM
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#20
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Give me a museum and I'll fill it. (Picasso)
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Quote:
Originally Posted by Chuckanut
Dr. Pfau does seem less interesting these days, IMHO. Or am I just getting smarter and thus harder to impress? Time will tell.
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I think after a while, it becomes a question of 4%, 3.8%, 3.753216% and so on.
After you get zeroed in on the premise there's not much more to discuss.
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