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Preparing for Lower Long-Term Returns

Investors may not be rewarded for risk-taking during the next several years, so they should tweak their spending and saving patterns instead, says financial-planning expert Michael Kitces.

Michael Kitces is a partner and the director of research for Pinnacle Advisory Group, and publisher of the financial planning industry blog Nerd's Eye View. You can follow him on Twitter at @MichaelKitces or connect with him on Google+.

Christine Benz: Hi, I'm Christine Benz for How should the market's valuation inform your portfolio's positioning? Joining me to discuss that question is Michael Kitces. He is a financial-planning expert.

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