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Robert Klein
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July 24, 2015. Bob Klein's article, How to Design the Ideal Retirement Portfolio, was the #1 most popular RetireMentors article yesterday the entire day. The article had over 23,000 views and has added another 9,000 views so far today for a total of 32,000. Continue reading
Posted Jul 24, 2015 at Retirement Income Center
July 23, 2015. Bob Klein's article, How to Design the Ideal Retirement Portfolio, was published in today's MarketWatch section of The Wall Street Journal. Designing and managing a retirement portfolio requires a timely transition from an investment to an income allocation mindset. Different, and perhaps more secure, types of investments... Continue reading
Posted Jul 23, 2015 at Retirement Income Center
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Every year since my wife and I began investing in fixed index annuities (FIAs) with income riders several years ago, we've received annual statements on the anniversary date of each contract. A reconciliation of the beginning- to the end-of-the-contract-year accumulation value is a key component of each statement. This includes additions, or premiums, premium bonuses, interest credits, withdrawals, surrender charges, and income rider charges. Distinguishing Feature of Fixed Index Annuities Interest credits and the methodology used to calculate them is a distinguishing feature of FIAs. The amount of interest credited is primarily dependent upon the performance of a stock market... Continue reading
Posted Jul 6, 2015 at Retirement Income Visions
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Deferred income annuities (DIAs) have been getting a lot of attention since the Treasury and IRS finalized a regulation in July, 2014 blessing the use of qualified longevity annuity contracts, or "QLACs." A QLAC is a DIA that's held in a qualified retirement plan such as a traditional IRA with a lifetime income start date that can begin up to age 85. It's subject to an investment limitation of the lesser of $125,000 or 25% of one's retirement plan balance. Fixed Income Annuity Hierarchy For individuals concerned about longevity who are looking for a sustainable source of income they can't... Continue reading
Posted Jun 22, 2015 at Retirement Income Visions
June 16, 2015. Bob Klein's article, Will 13 be the Dow's Lucky Number? was published in today's MarketWatch section of The Wall Street Journal. When the Dow closes at or above 18,000 for the 13th time, will this mark the end of the start-and-stop pattern that began almost six months... Continue reading
Posted Jun 16, 2015 at Retirement Income Center
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One of the reasons that many people don't defer the start date of their Social Security benefits beyond their full retirement age is the belief that their increased benefits will get eaten up by Medicare premium increases. There are two reasons why this isn't true: Social Security benefit increases far exceed Medicare premium increases. Benefit increases are protected from Medicare Part B premium increases. Social Security Benefit Increases Far Exceed Medicare Premium Increases Let's assume that you're 65, haven't started receiving Social Security, your full retirement age (FRA) is 66, and your projected monthly benefit beginning at age 66 is... Continue reading
Posted Jun 8, 2015 at Retirement Income Visions
May 23, 2015. Bob Klein's article, Retrofit Your Portfolio Before the Next Market Crash, was the feature article yesterday morning on MarketWatch and was the #1 most popular Retirement article all day. The article had over 15,000 views. Continue reading
Posted Jun 2, 2015 at Retirement Income Center
March 22, 2015. Bob Klein's article, Retrofit Your Portfolio Before the Next Market Crash, was published in today's MarketWatch section of The Wall Street Journal. There are two time-tested, conservative strategies you should consider to prepare for the next stock market crash. Continue reading
Posted May 22, 2015 at Retirement Income Center
May 13, 2015. Bob Klein's article, Medicare Part B Premiums Increasing Up to 30%, which was published in yesterday's MarketWatch section of The Wall Street Journal, was featured on the front page of MarketWatch and was the #1 most popular Retirement article yesterday. The article has over 30,000 views. Continue reading
Posted May 13, 2015 at Retirement Income Center
March 12, 2015. Bob Klein's article, Medicare Part B Premiums Increasing Up to 30%, was published in today's MarketWatch section of The Wall Street Journal. When the Medicare Access and CHIP Reauthorization Act of 2015, commonly known as the "doc-fix" legislation, becomes law, some Medicare participants will pay 30% more... Continue reading
Posted May 12, 2015 at Retirement Income Center
Chicago - May 5, 2015. Bob Klein gained advanced education on a variety of retirement income planning topics from some of the word's foremost experts at the 2015 Retirement Income Summit held May 4 - 5 in Chicago. The event was the ninth annual conference developed by the editors of... Continue reading
Posted May 11, 2015 at Retirement Income Center
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A common theme I hear when I talk to retirees is "I wish I would have started saving sooner for retirement." There's an underlying feeling of guilt that's expressed each time this statement is uttered. The implication is that the individual had the ability to save more for retirement but chose not to do so. While it's ultimately the responsibility of each of us to make sure that we have sufficient funds to pay for our needs for the duration of retirement, it's extremely difficult, if not impossible in many cases, to achieve this goal without proper guidance. Saving for... Continue reading
Posted Apr 27, 2015 at Retirement Income Visions
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If you want peace of mind when you retire, you need to have a plan that will generate sustainable income streams that will cover a large portion of your fixed and discretionary expenses. Income tax planning is critical since your income needs to be calculated net of income tax to determine the amount that will be available for spending. A sustainable income stream is simply a regular series of payments that, once it begins, will continue for the rest of your life. An ideal sustainable income stream is one that's calculated using life expectancy and has a flexible start date.... Continue reading
Posted Mar 16, 2015 at Retirement Income Visions
February 25, 2015. Bob Klein's article, 5 Benefits of a Capital Gains Retirement Strategy, was published in today's MarketWatch section of The Wall Street Journal. If you are self-employed and have a sizable capital loss carryover, you may want to forego part or all of your retirement contributions. Continue reading
Posted Feb 25, 2015 at Retirement Income Center
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Social Security is an important source, and in many households, the largest source, of income for retirees. You can start collecting benefits at any time between age 62 and 70. Since Social Security is an income annuity, the longer you wait, the greater your monthly income will be for the rest of your life. The Social Security start date decision is complicated by the fact that there are different types of retirement benefits for which you may be eligible. These include spousal, divorcee, and survivor options in addition to benefits based on your earnings. Furthermore, you may qualify for more... Continue reading
Posted Feb 23, 2015 at Retirement Income Visions
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2014 marked the introduction of qualified longevity annuity contracts, or QLACs. For those of you not familiar with them, a QLAC is a deferred fixed income annuity designed for use in retirement plans such as 401(k) plans and traditional IRAs (a) that's limited to an investment of the lesser of $125,000 or 25% of the value of a retirement plan and (b) requires that lifetime distributions begin at a specified date no later than age 85. QLAC investment options are currently limited to deferred income annuities, or DIAs. The purchase of deferred fixed income annuities in retirement plans for longevity... Continue reading
Posted Feb 2, 2015 at Retirement Income Visions
January 23, 2015. Bob Klein's article, How to Reduce Retirement Anxiety, was published in today's MarketWatch section of The Wall Street Journal. A secure retirement paycheck is key to worrying less about your financial future whether you're planning for retirement or are already retired. Continue reading
Posted Jan 23, 2015 at Retirement Income Center
Las Vegas, NV - January 19 - 20, 2015. Bob Klein attended the AICPA Advanced Personal Financial Planning Conference. The conference is recognized as the most technically advanced personal financial planning conference inside and outside the CPA profession. Continue reading
Posted Jan 21, 2015 at Retirement Income Center
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If you're married, you and your spouse have estate planning documents that were prepared before 2009, and the current and projected lifetime value of your estate is less than $5.5 million, or potentially $11 million, your plan may be outdated. Background A brief history of the evolution of the estate tax and the estate tax exemption will help you decide if it's time to consult with your estate planning attorney. Beginning in 1916, an estate tax was enacted that subjected the net value of an individual's estate to an estate tax upon death. The net estate value, which includes life... Continue reading
Posted Jan 5, 2015 at Retirement Income Visions
December 31, 2014. 2014 was an eventful year for Bob Klein and Retirement Income Center. In addition to servicing his clientele, Bob continued to distinguish himself as a leader in the retirement income planning field through his various media activities. Bob kicked off the year on January 5th as a... Continue reading
Posted Dec 31, 2014 at Retirement Income Center
December 22, 2014. Bob Klein's article, Starting Social Security Later - For Your Spouse's Sake, was published in today's MarketWatch section of The Wall Street Journal. The decision regarding when to begin receiving Social Security retirement benefits should be carefully analyzed, especially if you’re married since it will affect the... Continue reading
Posted Dec 22, 2014 at Retirement Income Center
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Not too long ago it was common for pre-retirees to depend on two sources of retirement income: Social Security and a private or public pension. Both began at age 65, were expected to last for life, and typically met 50% or more of retirees' financial needs. With two secure sources of lifetime income, age 65 was the standard retirement age for many years. Retirement income planning focused on closing or narrowing the gap between one's projected retirement income needs and what would be provided by Social Security and pension income. Retirement Planning Milestone The decline of defined benefit pension plans... Continue reading
Posted Dec 8, 2014 at Retirement Income Visions
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Since the Treasury and IRS finalized a regulation in the beginning of July blessing the use of qualified longevity annuity contracts, or "QLAC's," a lot of people have been wondering when and where they can buy one. Per the last paragraph of my September 15th "Don't Expect to See QLAC's Soon" post, speculation was that product launch may begin in the fourth quarter of this year. The mystery is now behind us. The first QLAC to hit the market was recently released by AIG through American General Life Insurance Co with its American Pathway deferred income annuity. AIG enjoys overall... Continue reading
Posted Dec 1, 2014 at Retirement Income Visions
November 25, 2014. Bob Klein's article, No Bargains on Roth IRA Conversions This Friday, was published in today's MarketWatch section of The Wall Street Journal. With the current stock market highs, those looking to do Roth IRA conversions need to be patient in order to realize potential benefits from a... Continue reading
Posted Nov 25, 2014 at Retirement Income Center
November 24, 2014. Bob Klein's article, How Annuities Can Provide a Secure Retirement Withdrawal Strategy, was published in today's MarketWatch section of The Wall Street Journal. Unlike the safe withdrawal strategy which lacks the ability to provide known and predictable income in a single year, let alone for the duration... Continue reading
Posted Nov 24, 2014 at Retirement Income Center