In this episode of Money & Meaning, host Jeff Bernier welcomes back Larry Swedroe, author, consultant, and former Director of Research at Buckingham Strategic Wealth. They explore how retirees and pre-retirees can construct portfolios that reduce risk, smooth returns, and withstand market shocks. Larry breaks down key principles of evidence-based investing, the importance of understanding risk tolerance, and the evolving role of alternative assets like private credit and reinsurance in modern portfolios.
Topics covered:

Defining ability, willingness, and need to take investment risk
Understanding the three-legged risk assessment framework for retirement planning
The philosophy and principles behind evidence-based investing
Core criteria for evaluating investment assets and risk factors
Why beating the market is increasingly difficult for active managers
Strategic use of factors like value, quality, momentum, and small-cap stocks
Introduction to private market investments and their role in reducing sequence risk
Characteristics and advantages of reinsurance, private credit, and infrastructure
The role of illiquidity as a feature—not a bug—in long-term investing
Shifts in the accessibility and cost of alternative investments
How retirees can improve risk-adjusted returns through smarter diversification
Common misconceptions around timing and liquidity in private markets
Evaluating alternatives based on implementation cost and diversification

Useful Links:

 Jeff Bernier on LinkedIn
 Larry Swedroe on LinkedIn
 Larry Swedroe on Substack
 TandemGrowth Financial Advisors

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