Insight: Using a Financial Planner and Portfolio Performance

By Rui Yao

Insight Overview


When talking with their kids about financial topics, parents should avoid traditionally defined gender roles that may influence saving and investing behaviors over the long term. Until the time that these gender differences dissipate, financial professionals can encourage consumers, especially women, to include protected lifetime income plans when planning for retirement. Protected lifetime income plans fit with women’s lower risk tolerance and can decrease the chance that women will outlive their retirement assets. Finally, given the importance of parents’ role in socializing their kids about financial literacy, policymakers can design programs that encourage parental participation in financial education at home.

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About the Author

Rui Yao PhD, CFP®, is Professor in the Department of Personal Financial Planning at the University of Missouri. She received her doctoral degree from The Ohio State University. She received best paper awards from the CFP Board, AARP, American Council on Consumer Interests, and American Association of Family & Consumer Sciences. Dr. Yao serves on the editorial board and as a reviewer for a number of academic journals and conferences.

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