Dr. Paul Kaplan

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479 appearances 1 recordings 1 series first heard Jul 2026 last heard 9 Jul

Dr. Paul Kaplan’s voice in public audio — every appearance, attributed to the second.

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The Rational Reminder Podcast · A Financial Plan For Your Entire Life | #417 (Dr. Paul Kaplan) · 9 Jul 2026 podcast

So what I have in these yellow cells are all the inputs to the model.

So the age, the sex, what are the features of the model?

It's very easy to change a person's longevity assumption.

That's, again, because of the model that Professor Malevsky recommends.

It makes it very easy to do that.

Then how far off do you want to model?

And then we have these preference parameters, which ideally should come from some kind of profiling tool, but this is just a spreadsheet.

So I just put some numbers in here.

Your non-discretionary consumption is $50,000 a year.

I break down your asset allocation of your current assets, between stocks, domestic stocks, global stocks, bonds and cash.

When you retire, so you're going to retire at 66.

what your current salary is.

There's also a piece in here where you can include an employee match.

In this example, you're contributing $15,000 a year and your employer is matching that at 50%.

So in other words, the employer is adding $7,500 to your account each year.

How much do you want to annuitize?

Bequest preferences, again, they should come from, okay, what type of bequest do you want?

Then we get into income.

So we use a model here that was developed at Morningstar where basically you put in a person's education level and their sex, and it comes up with a salary curve.

This part here, you put in your allocation of human capital.

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