Animal Spirits Podcast: Calamos' Matt Kaufman Discusses Non-Bond Income Strategies for Retirees
In this episode of Animal Spirits, hosts Michael Batnick and Ben Carlson interview Matt Kaufman from Calamos. The discussion focuses on generating portfolio income outside traditional bonds, specifically examining autocall ETFs and liquid annuity-like products as alternatives for retirees facing longevity, inflation, and volatility risks.
The US-based investment podcast 'Animal Spirits' released an episode on October 26, 2026, titled 'Talk Your Book: Beyond Bonds in Retirement'. Hosted by Michael Batnick and Ben Carlson of Ritholtz Wealth Management, the episode features Matt Kaufman from Calamos as the guest. According to the publisher's show notes, the conversation centers on strategies for generating income in retirement portfolios without relying solely on traditional bonds.
Key topics listed include the demographic phenomenon known as 'Peak 65', representing the largest number of Americans turning retirement age in history. The guests discuss three types of annuity products and their ETF counterparts, exploring how ETFs have begun to offer characteristics similar to annuities within a liquid wrapper. Additionally, the episode covers how rising interest rates have boosted income on autocall ETFs and addresses the three primary risks retirees face: longevity, inflation, and volatility.
This resource is selected for its specific focus on alternative yield sources and structured products like autocall ETFs, which provide a distinct angle compared to general bond market commentary. Listeners should note that the episode is sponsored by Calamos, an asset management firm, which may influence the presentation of these financial instruments.