Building Resilient Portfolios and Reducing Risk with Larry Swedroe

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