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Robert Klein
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August 11, 2014. Bob Klein celebrates 25 years owning and operating his own business. After working for national and local CPA and financial planning firms in New York, New Jersey, and California, Bob founded Robert Klein, CPA in August, 1989. Bob began the business from his home and within three... Continue reading
Posted Aug 26, 2014 at Retirement Income Center
August 20, 2014. Bob Klein's article, Long-Term Care Insurance Makes a Great Birthday Gift, was published in today's MarketWatch section of The Wall Street Journal. Given the financial, emotional, and physical toll an extended care event takes on caregivers, it behooves you to make sure that your parents have a... Continue reading
Posted Aug 20, 2014 at Retirement Income Center
August 18, 2014. Retirement Income VisionsTM, Bob Klein's blog featuring innovative strategies for creating and optimizing retirement income, celebrated its five-year anniversary. Bob's goal in writing this blog remains the same as it was five years ago: to bring to readers' attention innovative planning strategies that they can use to... Continue reading
Posted Aug 18, 2014 at Retirement Income Center
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It's hard to believe that it's been five years since Retirement Income Visions™ made its debut. As stated in the August 16, 2009 post, the importance of retirement income planning as a separate and distinct discipline was magnified during the October, 2007 to March, 2009 stock market decline. This was true for both my clients and for me. This is what motivated me to expand my expertise and develop proven conservative retirement income planning solutions for my clients that would stand the test of time in any type of market. My goal in writing this blog remains the same as... Continue reading
Posted Aug 18, 2014 at Retirement Income Visions
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Longevity insurance was recently blessed again by the IRS with its finalization of a regulation allowing the inclusion of an advanced-age lifetime-income option in retirement plans such as 401(k) plans and IRAs. As discussed in my July 25 MarketWatch article, 6 Ways a New Tax Law Benefits a Sustainable Retirement, "longevity insurance" isn't an actual product that you can purchase from a life insurance carrier. It's instead a term that refers to a deferred lifetime fixed income annuity with an advanced age start date, typically 80 to 85. In a nutshell, IRS' final regulation allows you to invest up to... Continue reading
Posted Aug 4, 2014 at Retirement Income Visions
July 25, 2014. Bob Klein's article, 6 Ways a New Tax Law Benefits a Sustainable Income, was published in today's MarketWatch section of The Wall Street Journal and quickly rose to the #1 Most Popular in Retirement. Treasury and IRS' recent final regulation allowing longevity insurance in retirement plans is... Continue reading
Posted Jul 25, 2014 at Retirement Income Center
July 15, 2014. Bob Klein's article, Social Security Loophole's Huge Windfall Opportunity, which was published on July 10th in the MarketWatch section of The Wall Street Journal and has about 190,000 views, was quoted extensively by Jean Chatzky in her This Week in Your Wallet publication that's emailed to Jean's... Continue reading
Posted Jul 15, 2014 at Retirement Income Center
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The introduction to one of my recent MarketWatch RetireMentors columns, You Need a Plan to Retire Before You Plan to Retire, stated the following fact of which most people aren't aware: "You're not going to retire when you plan on retiring. You're probably going to retire earlier." The article cited results of two recent well-known and respected annual studies that demonstrated that there's a good chance that you will retire before you expect to do so. The Employee Benefit Research Institute (EBRI) Retirement Confidence Survey has consistently shown an increasing trend in the percentage of people retiring earlier than planned... Continue reading
Posted Jul 14, 2014 at Retirement Income Visions
July 10, 2014. Bob Klein's article, Social Security Loophole's Huge Windfall Opportunity, which was published in today's MarketWatch section of The Wall Street Journal, has been the second most popular article on MarketWatch for most of the day. It has also been the #1 most popular Retirement article and has... Continue reading
Posted Jul 10, 2014 at Retirement Income Center
July 10, 2014. Bob Klein's article, Social Security Loophole's Huge Windfall Opportunity, was published in today's MarketWatch section of The Wall Street Journal. Unbeknownst to most people, a popular Social Security strategy can be used by single individuals and couples alike to create a windfall opportunity in the right situation. Continue reading
Posted Jul 10, 2014 at Retirement Income Center
June 30, 2014. Retirement Income Center acquired the domain name, www.RetirementIncomeCenter.com, today. This replaces the previous domain, www.RetirementIncomeCtr.com. Continue reading
Posted Jun 30, 2014 at Retirement Income Center
June 23, 2014. Bob Klein's article, You Need a Plan to Retire Before You Plan to Retire, was published in today's MarketWatch section of The Wall Street Journal. You can never start planning too early for retirement. Studies show there's a good chance that you will retire before you expect... Continue reading
Posted Jun 25, 2014 at Retirement Income Center
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Retirement planning is unquestionably the most difficult type of goal-oriented financial planning. Most goal-based planning is straight-forward, solving for the amount, and frequency, of payments that need to be made to accumulate a sum of money at a future date using two assumptions: rate of return and inflation rate. College education planning is a good example of the use of this methodology with a twist. Unlike other planning where the future value will be withdrawn in one lump sum, college costs are generally paid for over a series of four or five years. This complicates the planning since it requires... Continue reading
Posted Jun 16, 2014 at Retirement Income Visions
June 12, 2014. Retirement Income Center's new, resdesigned website went live today. The new site has a cleaner look, is easier to navigate, and features a brand new Retirement Income Planning Resource Center with links to numerous planning, managing, and protection resources. The site also includes several new educational videos. Continue reading
Posted Jun 12, 2014 at Retirement Income Center
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When we make financial decisions, we often don't think about the long-term effects – good and bad – they will have on other people. Their impact can shape the lives of immediate family members as well as generations to come long after we're gone. You may be wondering, what does this have to do with retirement income planning? In my case, everything. When clients ask what motivated me to become a financial planner, I tell them that observing, and paying for, the consequences of my parents' (may they rest in peace) lack of planning was the driving factor. My dad,... Continue reading
Posted May 19, 2014 at Retirement Income Visions
May 15, 2014. Bob Klein was quoted in the 6th through 9th paragraphs of Karen DeMasters' Financial Advisor article, Over 65 Population Doubling. Continue reading
Posted May 15, 2014 at Retirement Income Center
May 12, 2014. Bob Klein's article, 8 Reasons Fixed-Income Annuities Belong in Your IRA, was published in today's MarketWatch section of The Wall Street Journal. Fixed-income annuities can be a natural fit for a traditional IRA in the right situation. Continue reading
Posted May 12, 2014 at Retirement Income Center
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If you're in the market for sustainable lifetime income, you've come to the right place if you're looking at fixed income annuities. A fixed income annuity is a fixed (vs. variable) annuity that provides income payments for your lifetime or for a contractually-defined term. There are three types of fixed income annuities, each one serving a different purpose in a retirement income plan. The three types are as follows: Single premium immediate annuity ("SPIA") Deferred income annuity ("DIA") Fixed index annuity ("FIA") with income rider The main distinction between the three types of fixed income annuities is the timing of... Continue reading
Posted May 5, 2014 at Retirement Income Visions
April 28, 2014. Bob Klein's article, Wealthy Paid 13% More Tax on Same Income, which was published in Friday's MarketWatch section of The Wall Street Journal, has generated over 20,000 views to date. The article was featured on the home page of MarketWatch most of the day on Friday. It... Continue reading
Posted Apr 28, 2014 at Retirement Income Center
April 25, 2014. Bob Klein's article, Wealthy Paid 13% More Tax on Same Income, was published in today's MarketWatch section of The Wall Street Journal. Although high income households traditionally pay more than their fair share of income tax relative to their numbers, 2013 was especially onerous due to the... Continue reading
Posted Apr 25, 2014 at Retirement Income Center
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When I began writing and publishing Retirement Income Visions™ almost five years ago, retirement income planning was a relatively new concept. What people thought was retirement income planning turned out to be traditional retirement asset planning in most cases. While the distinction between retirement income and retirement asset planning has gotten more attention in the media over the last five years and has come to the forefront for financial advisors with The American College's establishment of the Retirement Income Certified Professional® (RICP®) designation two years ago, the importance of implementing a retirement income plan hasn't caught on yet with most... Continue reading
Posted Apr 21, 2014 at Retirement Income Visions
April 16, 2014. Bob Klein's article, Retirement: The More You Know, The More You Save, was published in today's MarketWatch section of The Wall Street Journal. Individuals who have access to retirement income projections save more, feel better informed about retirement planning, and feel more certain about the amount of... Continue reading
Posted Apr 16, 2014 at Retirement Income Center
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In a 1997 speech, Rosalynn Carter, the wife of Jimmy Carter, the former President of the United Statements, made a statement, "There are only four kinds of people in this world": Those who have been caregivers, Those who currently are caregivers, Those who will be caregivers, and Those who will need caregivers. Long-Term Care's Profound Effect on a Family When a loved one requires long-term care, it can have a profound effect on a family. Studies have shown that providing care to people who are chronically ill can have a detrimental effect on caregivers. This is especially true when the... Continue reading
Posted Apr 7, 2014 at Retirement Income Visions
April 3, 2014. Bob Klein participated in a series of educational interviews with David Littell, the director of The New York Life Center for Retirement Income at The American College in Bryn Mawr, Pennsylvania in January, 2014. In this video, Bob discusses 8 retirement income planning best practices that he... Continue reading
Posted Apr 4, 2014 at Retirement Income Center
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The personal savings rate in the United States has never been exemplary, averaging 6.83 percent from 1959 through 2013 as reported by the U.S. Bureau of Economic Analysis. Although we're encouraged to save from an early age, it's difficult for people to accumulate funds in a financial institution account without taking withdrawals from the account unless the reason for savings is to purchase a tangible product. As an example, unless we receive a sizeable gift or inheritance, the down payment on our first house doesn't fall from the sky. Most people in this situation need to diligently save a portion... Continue reading
Posted Mar 31, 2014 at Retirement Income Visions