What does it take to retire well in a world where people are living longer, working differently, and facing new financial realities? In Episode 33 of the Tao of Chao Podcast, Philip Chao welcomes Catherine Collinson, CEO and President of the Nonprofit Transamerica Institute and Transamerica Center for Retirement Studies, to explore how individuals, employers, and policymakers can collaborate to improve retirement readiness and financial wellness. Key insights include: How longev...

What does it take to lead responsibly in today’s complex world? In Episode 32 of the Tao of Chao Podcast, Philip Chao sits down with Don Trone, founder of the Behavioral Governance Institute, to discuss the principles of fiduciary leadership and the importance of behavioral governance. Key insights include: Why fiduciary duty is best understood as a standard of character, not just complianceHow behavioral governance helps leaders align decisions with valuesThe importance of ethics, accountabi...

Are tariffs, immigration shifts, and AI adoption quietly reshaping the U.S. economy? In this episode of the Tao of Chao podcast, Philip Chao welcomes Dr. Onsel Gulbiten, global macro strategist, for a deep discussion on the forces driving growth and inflation. They explore: How tariffs and immigration policies are reshaping U.S. growth potentialWhy the economy may be settling into a new stasis of slower expansionThe accelerating role of AI in productivity and labor substitutionThe Federal Res...

How well do employers really know their plan participants — and are they using that data in participants' best interests? In this episode of the Tao of Chao podcast, Philip Chao welcomes Katrina Berishaj, Chair of ERISA and Employee Benefits at Stradley Ronon, for a deep discussion on the evolving responsibilities of fiduciaries, especially in the defined contribution plan space. They explore how employers and advisors can meet their fiduciary obligations more effectively — not just by offe...

How stable is today's world order — really? In this episode of the Tao of Chao podcast, Philip Chao sits down with Dr. Brian Wong, Assistant Professor at the University of Hong Kong and geopolitical strategist, to unpack the evolving dynamics between the United States and China. Together, they explore the fragile nature of the so-called unipolar world, the emerging complexities of multipolarity, and why both America and China may be their own greatest obstacles. Brian shares deep insigh...

Retirement income planning requires balancing competing priorities and understanding crucial trade-offs. In this episode, Jessica Sclafani, Global Retirement Strategist at T. Rowe Price, introduces their innovative five-dimensional framework for evaluating retirement income solutions. Traditional retirement planning often focuses solely on accumulation, but converting savings into sustainable income presents unique challenges. Jessica explains how plan sponsors and financial advisors ...

Why is saving money so hard? Why is retirement planning so complicated? Gen Z and Millennials are anxious about their future, including their financial planning. Behavioral finance expert Anne Lester, author of "Your Best Financial Life: Safe, Smart Steps to the Future You Want" and former head of retirement solutions at JP Morgan Asset Management, reveals powerful insights about why we struggle with saving and investing - and shares practical solutions to overcome these challenges. Learn wh...

What's ahead for the global economy and financial markets in 2025? Let's look back at past financial policy decisions and data for indicators. Anthony Crescenzi, Executive Vice President and Market Strategist at PIMCO, shares his expert analysis of what's ahead in 2025. In this wide-ranging conversation recorded at the 2024 Spark Forum (on the eve of President Donald Trump's reelection), Crescenzi discusses the Federal Reserve's approach to price stability and interest rates, America's indus...

How can advisors and plan sponsors tackle the complexities of lifetime income and retirement sufficiency? In this episode of the Tao of Chao, Philip sits down with Bonnie Treichel, Chief Solutions Officer at Endeavor Retirement, to explore the critical role of frameworks, behavioral finance, and procedural prudence in addressing retirement challenges. They discuss the importance of asking the right questions, the evolving landscape of QDIA solutions, and how collaboration across the industry ...

In life, we all operate in a varying degree of ignorance or blindness when deciding the future. Information is the critical ingredient - even though the final decision is based on one’s judgment and interpretation of the information. In theory, the more relevant and accurate information we have, the higher the probability of us making the “right” decision about the future. Even though there is no perfect prediction about how others would react to the same set of informatio...

Daniel Close, Lead Portfolio Manager for High-Yield Municipal Strategies at Nuveen, joins host Philip Chao in this episode of Tao of Chao to explore the evolving landscape of high-yield municipals. They discuss the effects of the Fed's rate cuts, differences between municipal and treasury yield curves, and the future of fixed-income solutions. Daniel shares his expert insights on municipal market growth, supply-demand dynamics, and what makes today's high-yield municipal bonds different from ...

In this episode of The Tao of Chao podcast, host Philip Chao switches roles and becomes the guest as he sits down with Bryan Moore for a deep dive into discretionary investment management and the importance of diversification. Philip shares insights into his work advising institutions, including the nuances of behavioral finance and portfolio management in today’s financial landscape. Together, they explore how tactical adjustments can protect clients from market volatility while also seizing...

Join us as we sit down with Dr. Andrew Selee, president of the Migration Policy Institute, to discuss the complexities of immigration and migration policies globally, with a special focus on the United States, Latin America, and the Caribbean. Dr. Selee shares insights from his extensive research, the current state of migration, and the impact of immigration on economies and societies. Tune in to understand the challenges and opportunities in managing migration and the future of immigration p...

In the 20th episode of the Tao of Chao podcast, host Philip Chao sits down with Todd Levy, a Managing Director with The Retirement Plan Company, one of the country’s leading independent providers of account recordkeeping, third-party administration, and actuarial services for qualified retirement plans. They analyze the intricate world of fiduciary responsibilities, the evolving landscape of retirement planning, and the importance of maintaining clear client communication. The discussio...

Michael Underhill, a trained economist, investment strategist, and investor in the infrastructure space, emphasizes the urgency of two crucial policy areas for the future — energy and immigration. Michael and Philip Chao stress the need for a comprehensive energy policy to prepare for increased energy dependence and a coherent immigration policy to support the human capital demand necessary for the American manufacturing revival. These policies are not just beneficial but essential for the fu...

If you are a student of the market and interested in gaining insights into the cyclical and secular landscape, topics that are highly relevant in today's economic climate, please tune in to this episode of Tao of Chao. The world is always uncertain, and Dr. Onsel Gulbiten offers her view on inflation, interest rate risks, and geopolitical challenges. Michael Salm provides his perspective on separating sovereign, private, corporate, and banking balance sheets to understand the marketplace and ...

“Personalization” in defined contribution retirement arrangements such as 401(k), 403(b), and 457 plans continues to gain momentum. This is not a fad or a marketing slogan. It is real and does improve outcomes. One way or another, personalization has seeped into our lives by suggesting entertainment, improving comfort in automobiles, saving time in kitchens, tailoring education, providing faster food service, and providing unique shopping experiences. However, personalization in retirement pl...

The Department of Labor has once again proposed changes to The Fiduciary Rule to expand fiduciary application to those selling investing products and delivering advice to retirement plans. Kevin Walsh, a legal expert in this matter joins Philip Chao to discuss the reasons behind the push and what the DOL is trying to accomplish. There is no question that we need fiduciaries to serve in our best interest but will the DOL's approach succeed in extending projection under every circumstance? 👓 L...

Chinese Americans quickly learn that there are cultural differences between the Eastern and Western business worlds. Today's guest is our bridge between the two. In this podcast episode, Philip Chao interviews Joy Chen, CEO of the Multicultural Leadership Institute. They discuss the importance of cross-cultural communication and the impact of cultural differences on leadership success. Joy shares her personal journey and how she developed cultural fluency through immersion in Western busines...

Welcome to Tao of Chao, where we explore some of the most important topics in finance and economics. Join Philip Chao as he welcomes Peter Scoblic to explore the fascinating world of strategic foresight. Peter is the co-founder, and principal of Event Horizon Strategies. Peter is also a professor at Georgetown University and Harvard’s Development Program, and he is currently writing a book about the history of decision making under uncertainty. In this episode, Peter dives into how to formula...