In this episode of The Wave Strength, Host Jim Breen and Chris Stout, AVP and Head of National Markets at Pacific Life, take a deep dive into the mindset of retirement plan participants. With over 30 years of industry experience, Chris discusses the challenges participants face, the importance of behavioral finance, and how Pacific Life is leading the way in providing innovative solutions to secure a comfortable retirement.

Listen in and discover why understanding participant behavior is crucial to driving successful retirement outcomes.

Don’t forget to like, subscribe, and share your thoughts on how we can better support participants in their retirement journey.

Catch the wave!

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About Chris Stout:

Chris Stout is Pacific Life’s Assistant Vice President and Head of National Markets for the Institutional Retirement Solutions Group (IRSG). With over three decades of experience in financial services, Chris is responsible for expanding the IRSG distribution force and Pacific Life’s national footprint. Chris leads IRSG’s National Markets function and plays a vital role in the growth and long-term success of the Pension Risk Transfer (PRT) and Defined Contribution (DC) businesses, in addition to partnering with advisors and consultants to connect plan sponsors with innovative lifetime income solutions. Chris joined Pacific Life in 2024.

In This Episode:

00:00 Introduction

00:28 Welcome to The Wave Strength

01:02 Understanding the Participant Mindset

01:47 Challenges Faced by Participants

05:42 Tools and Resources for Participants

06:21 Behavioral Finance Insights

09:40 The Importance of Saving for Loved Ones

10:19 Conclusion and Final Thoughts

#retirementplanning #behaviroalfinance #lifetimeincome #retirementmindset #financialeducation #pacificlife

In this insightful episode of The Wave Strength, host Jim Breen welcomes Pacific Life’s Karen Neeley, vice president, and head of Institutional Retirement Solutions Group (IRSG), and Chris Stout, AVP and head of IRSG’s National Markets function, to share their thoughts on the evolving retirement landscape and current developments surrounding retirement planning. 

Listen in as they delve into Pacific Life's innovative approaches to retirement solutions. Discover how the team’s expertise and passion are driving new strategies to address the growing need for guaranteed income in retirement.

From strategic partnerships to pioneering industry insights, this episode is packed with valuable information for financial professionals and anyone interested in the future of retirement planning.

Catch the wave!

🌊 The Wave Strength Playlist:

https://www.youtube.com/playlist?list=PLLoprQ4Cy36n6VvMebFQK9dDE4Zv14_ck

📺 Shorts Playlist:

https://www.youtube.com/playlist?list=PLLoprQ4Cy36nXZH-h3mntHiyfQshRyCbB

🎙 Spotify:

https://podcasters.spotify.com/pod/show/thewavestrength

💻 LinkedIn:

https://www.linkedin.com/showcase/pacific-life-institutional-business/

About Karen Neeley:

Karen Neeley is vice president of the Institutional Retirement Solutions Group. She has an extensive financial services background, previously holding leadership positions at three Fortune 500 companies. A proven innovator, Karen was named a 2023 Twin Cities Business Notable Leader in Banking & Finance and was previously recognized as LIMRA's Top 25 Rising Stars of Innovation under 40. At Pacific Life, Karen leads the Defined Contribution Lifetime Income (DCLI) and Pension Risk Transfer (PRT) business lines, including go-to-market strategy, product development, distribution, operations, and customer and partner engagement. Karen joined Pacific Life in 2023.

About Chris Stout:

Chris Stout is Pacific Life’s Assistant Vice President and Head of National Markets for the Institutional Retirement Solutions Group (IRSG). With over three decades of experience in financial services, Chris is responsible for expanding the IRSG distribution force and Pacific Life’s national footprint. Chris leads IRSG’s National Markets function and plays a vital role in the growth and long-term success of the Pension Risk Transfer (PRT) and Defined Contribution (DC) businesses, in addition to partnering with advisors and consultants to connect plan sponsors with innovative lifetime income solutions. Chris joined Pacific Life in 2024.

In This Episode:

00:00 Introduction

01:15 Meet Chris Stout: Head of National Markets

01:45 The Importance of Guaranteed Income

03:08 Chris Stout's Career Journey

08:27 Pacific Life's Strategic Partnerships

09:28 Conclusion and Final Thoughts

#retirementsolutions #financialplanning #guaranteedincome #retirementsecuirty #financialsecurity

How are health-related challenges, including chronic diseases, impacting quality of life in retirement?

In this thought-provoking episode of The Wave Strength, Pacific Life’s Dr. Qi Sun and Jim Breen discuss the latest issue of Qi’s newsletter: Hidden Hurdle to The Golden Age: The Financial Impact of Chronic Disease on Older Americans. Qi explains how multimorbidity and medical expenses can jeopardize financial security in retirement, the role of gender and other demographics, and strategies for managing risk.

This eye-opening episode connects the dots and explores the link between physical well-being and financial well-being. Catch it now, on The Wave Strength.

About Dr. Qi Sun:

Dr. Qi Sun is the Financial Economist for Pacific Life’s Institutional Division. Her research focuses on longevity insurance, household asset allocation decisions, and financial well-being. Qi holds a bachelor’s degree in finance from Donghua University, a master’s degree in Personal Financial Planning from the University of Missouri, Columbia, and a doctorate in Personal Financial Planning from Texas Tech University.

In This Episode:

00:00 Introduction

00:31 Welcome to The Wave Strength Podcast

01:51 Unpacking the Newest Newsletter: Financial iQ with Dr. Qi

02:36 The Impact of Chronic Diseases on Retirement Spending

07:25 Strategies for Managing Medical Expenses in Retirement

10:09 The Importance of Health Savings Accounts (HSAs)

14:44 Conclusion and Final Thoughts

#retirementplanning #finanicalliteracy #financialwellness #financialeducation #personalfinance #chronicdiseaseawareness

President and CEO of Stock-Trak, Mark Brookshire joins Pacific Life’s The Wave Strength for a thought-provoking discussion about financial literacy, and the innovative efforts underway to promote money management and financial wellness among students and adults with gamification.

When students graduate from high school and even college with little or no financial education, they begin their careers without a strategy, or the tools needed for financial well-being. Unfortunately, these circumstances can set the stage for financial difficulties throughout their careers, and into retirement. In this episode, we explore the pioneering ways that Stock-Trak and Pacific Life are changing the game.

Catch it now, on The Wave Strength! And be sure to follow us to see future episodes; previous episodes are available to stream on Audible, Spotify, and YouTube.

In this insightful episode of The Wave Strength, renowned Social Security expert Mary Beth Franklin joins Pacific Life's Ruth Shaw and Carolyn Elrod to uncover vital strategies for optimizing Social Security benefits. With a focus on empowering women and diverse groups with knowledge to maximize retirement income, this episode reveals the unique considerations for different demographics, including the impact of marriage, divorce, and ethnicity on Social Security benefits. Whether you're planning for retirement or advising clients, this discussion is an essential guide to navigating Social Security's complicated rules and offers invaluable insights into making the most of Social Security to help you ensure a secure and prosperous future. Join “The Google of Social Security” to gain expert knowledge on crafting a retirement strategy that maximizes benefits and fosters financial wellness. Catch it now, on The Wave Strength. Want to learn more? Read this episode’s companion blog article here.

About Mary Beth Franklin 

Mary Beth Franklin is a Contributing Editor at Investment News specializing in Social Security, Medicare, and Retirement Income. She has been a financial journalist for more than 40 years, covering everything from the federal budget and tax policies as a Capitol Hill reporter for United Press International to consumer finances as a writer and editor at Kiplinger’s Personal Finance magazine. Mary Beth became a Certified Financial Planner in 2015 and is an in-demand speaker at conferences for financial professionals as well as a frequent guest on numerous radio and television programs. She is the author of “Maximizing Your Social Security Retirement Benefits” and host of the Retirement Repair Shop podcast. In her free time, Mary Beth likes to read, garden, ski, and play the piano. She received a BA in Communications from American University in 1975 where she continues to mentor journalism students.

About Caroline Elrod 
Caroline Elrod, J.D., CLU is a retirement strategies group manager for Consumer Markets at Pacific Life. Caroline helps financial professionals address complex tax, estate, and retirement planning issues for their clients, and their tax and legal professionals. Caroline is a graduate of the Northeastern University School of Law; she joined Pacific Life in 2015.

About Ruth Schau
Ruth is Senior Director of Pension Solutions, Institutional Division at Pacific Life. She works with companies and their advisors to customize solutions to solve financial risks inherent in pension plans. Ruth’s focus is on organizations that sponsor defined contribution (DC) plans, such as 401(k) or 403 (b) plans to provide guaranteed lifetime income options for plan participants. Ruth joined Pacific Life in 2021.

In this insightful episode of The Wave Strength, Host Jim Breen welcomes Maya T. Pillai, assistant vice president, and head of the Stable Value Program at Pacific Life, for a thought-provoking discussion on the significance of stable value in retirement plans. With over 15 years in the industry, Maya brings a deep understanding of how stable value works. Maya gives us a look inside Pacific Life's longstanding commitment to stable value, its dedicated team, and how they're innovating within this space to adapt to market dynamics and expand into new areas like 529 educational savings plans. Catch it now, on The Wave Strength.

About Maya Pillai

As the AVP, Head of Stable Value Wrap at Pacific Life, Maya manages a $34 billion business that provides innovative and customized solutions for investment managers and institutional clients. Maya has fifteen years of experience in the Stable Value industry; and she holds an MBA from Hamline University, Women in Leadership certificate from the University of Notre Dame, and the CFA Investment Foundations certification, demonstrating her commitment to ethical and professional standards in the financial services industry.

In this eye-opening episode of The Wave Strength, “The Google of Social Security” Mary Beth Franklin, joins Pacific Life’s retirement experts Ruth Schau and Carolyn Elrod to explore the essentials of preparing for retirement. Go beyond the basics of Social Security and discover the significance of emotional well-being, the role of guaranteed income sources like annuities, and the impact that the pandemic has had on retirement planning. Whether you're looking to optimize your retirement income, understand the complexities of annuities, or simply seeking a fulfilling retirement, this episode offers valuable insights into making the most of your golden years. Tune in to explore how you can lay a solid foundation for a secure, balanced, and fulfilling retirement. Catch it now, on The Wave Strength. Want to learn more? Read this episode’s companion blog article here.

About Mary Beth Franklin 

Mary Beth Franklin is a Contributing Editor at Investment News specializing in Social Security, Medicare, and Retirement Income. She has been a financial journalist for more than 40 years, covering everything from the federal budget and tax policies as a Capitol Hill reporter for United Press International to consumer finances as a writer and editor at Kiplinger’s Personal Finance magazine. Mary Beth became a Certified Financial Planner in 2015 and is an in-demand speaker at conferences for financial professionals as well as a frequent guest on numerous radio and television programs. She is the author of “Maximizing Your Social Security Retirement Benefits” and host of the Retirement Repair Shop podcast. In her free time, Mary Beth likes to read, garden, ski, and play the piano. She received a BA in Communications from American University in 1975 where she continues to mentor journalism students. 

About Caroline Elrod 
Caroline Elrod, J.D., CLU is a retirement strategies group manager for Consumer Markets at Pacific Life. Caroline helps financial professionals address complex tax, estate, and retirement planning issues for their clients, and their tax and legal professionals. Caroline is a graduate of the Northeastern University School of Law; she joined Pacific Life in 2015. 

About Ruth Schau 
Ruth is Senior Director of Pension Solutions, Institutional Division at Pacific Life. She works with companies and their advisors to customize solutions to solve financial risks inherent in pension plans. Ruth’s focus is on organizations that sponsor defined contribution (DC) plans, such as 401(k) or 403 (b) plans to provide guaranteed lifetime income options for plan participants. Ruth joined Pacific Life in 2021.  

What is a “license to spend”? And how can we make sure we don’t “leave happiness on the table”? On this episode of The Wave Strength, financial planning expert Dr. Michael Finke joins Host Jim Breen to unpack the No. 1 cause of anxiety for those approaching retirement: Not knowing how much they can spend in retirement.

Michael reveals that while the task of saving for retirement has been successfully automated, the concept of decumulation and retirement spending has been largely ignored. Michael explains that there’s a natural urge to preserve our nest egg, but doing so may not lead to happiness in retirement.

This and much more, catch it now on The Wave Strength. And be sure to follow us on YouTube, Audible, and Spotify.

About Michael Finke

Michael Finke, Ph.D. is a professor of wealth management and Frank M. Engle Distinguished Chair in Economic Security Research at The American College of Financial Services. He received a doctorate in consumer economics from The Ohio State University in 1998 and in finance from the University of Missouri in 2011. He led the Retirement Planning and Living Consortium at Texas Tech University before moving to the American College and is a nationally known researcher in the areas of retirement income planning, retirement spending, life satisfaction, and cognitive aging. He is a frequent speaker at financial planning conferences and was named one of the 25 most influential people in the field of investment advising in 2020 and 2021 by Investment Advisor Magazine.