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Robert Klein
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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 2 days ago 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
March 24, 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 how he uses technology to improve retirement planning. Continue reading
Posted Mar 27, 2014 at Retirement Income Center
March 25, 2014. Bob Klein's article, Don't Depend on Your Employer for Retirement, was published in today's MarketWatch section of The Wall Street Journal. Employers are motivated by competition, not by your need to ensure adequate retirement income, when they offer 401(k) plans. Continue reading
Posted Mar 25, 2014 at Retirement Income Center
March 4, 2014. Bob Klein's article, No Plan for Your 401(k)? You're Not Alone, was published in today's MarketWatch section of The Wall Street Journal. Despite the fact that a 401(k) will most likely be an employee's largest investment asset, few have any idea what to do with it when... Continue reading
Posted Mar 17, 2014 at Retirement Income Center
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People are always comparing themselves to other people. It's human nature. Retirement planning is no exception. One of the value-added services that I provide to my investment management and retirement income planning clients is the ability to view an up-to-date net worth statement 24/7 from anywhere in the world at a moment's notice. This is possible because of account aggregation technology that automatically updates values of clients' financial institution accounts daily. These include, but aren't limited to, bank, investment, annuity, life insurance, mortgage, auto loan, and credit card accounts. From time to time when I'm reviewing a net worth statement... Continue reading
Posted Mar 10, 2014 at Retirement Income Visions
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From time to time my life insurance agency refers potential clients to me who need to make a decision with an existing life insurance or annuity contract and are no longer in touch with the agent who sold them the contract. This happened recently with an older retired couple who received a letter from their life insurance company informing them that their annuity contract was maturing in a couple of months. By way of background, all annuity contracts have a maturity date. In the case of a deferred fixed income annuity, the maturity date is the last date on which... Continue reading
Posted Feb 17, 2014 at Retirement Income Visions
February 5, 2014. Bob Klein's article, When It Comes to Retirement, It Pays to Be an Optimist, was published in today's MarketWatch section of The Wall Street Journal. A recent study found that there's a statistically significant relationship between an individual's subjective life expectancy and his expectations of when he'll... Continue reading
Posted Feb 5, 2014 at Retirement Income Center
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When planning for retirement, you need to generate sustainable income that will meet your projected inflation-adjusted financial needs during various stages. This often requires multiple income-generating sources that ideally start, and potentially stop, to match your projected needs at different stages of retirement. A diversified portfolio of fixed income investments that's part of your overall portfolio generally needs to be designed to provide the desired after-tax income amounts and timing of same. The planning is complicated, should begin well in advance of retirement, and needs to be monitored and updated on a regular basis. One popular investment that's designed for... Continue reading
Posted Jan 27, 2014 at Retirement Income Visions
January 24, 2014. Bob Klein's article, Planning to Retire? Start With the Right Question, was published in today's NextAvenue, a major PBS system website designed to reach America's booming 50+ population as they plan for and literally define a new life stage. Bob's article was originally published on January 22nd... Continue reading
Posted Jan 24, 2014 at Retirement Income Center
January 22, 2014. Bob Klein's article, Planning to Retire? Start With the Right Question, was published in today's MarketWatch section of The Wall Street Journal. "Will I have enough assets to last for the rest of my life?," while a common question, isn't the right question to ask when planning... Continue reading
Posted Jan 22, 2014 at Retirement Income Center
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Part 1 of this post explained the benefits of attaching an income rider to a fixed index annuity ("FIA"). It also discussed the charge for this rider, including how it's calculated. Now we come to the crux of the matter – is a FIA income rider charge worth it? Before answering this question, I want to make it clear that the charge doesn't reduce the lifetime income, or lifetime retirement paycheck ("LRP") amount that you will receive. It's deducted from the accumulation value of your FIA, or value of your FIA before any applicable surrender charges. As explained in Part... Continue reading
Posted Jan 13, 2014 at Retirement Income Visions
Phoenix, AZ - January 5, 2014. Bob Klein was a guest on the hour-long radio talk show, Living your Life with Phillis Sax Pilvinis, that aired on Phoenix talk radio station, AM-960, The Patriot. The radio show, hosted by Phillis Sax Pilvinis, a fellow retirement income planner, explores topics on... Continue reading
Posted Jan 9, 2014 at Retirement Income Center
Bryn Mawr, PA - January 8, 2014. Bob Klein was a guest expert at The American College in Bryn Mawr, Pennsylvania on Wednesday. Bob did a series of interviews in a studio recording session with the director of the the Retirement Income Certified Professional (RICP®) program at the college. Bob's... Continue reading
Posted Jan 9, 2014 at Retirement Income Center
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Although fixed index annuities ("FIA's") offer a number of attractive features, not the least of which is protection from stock market downturns, I recommend them as a sustainable lifetime income strategy for a portion of my retirement income planning clients' investment portfolios when appropriate. In order to obtain this popular benefit, it's generally, although not always, necessary to apply for an optional income rider when you apply for a FIA. When you add an income rider, you turbocharge your FIA. A FIA income rider offers the following five benefits that, when taken as a whole, cannot be duplicated by any... Continue reading
Posted Jan 6, 2014 at Retirement Income Visions
January 2, 2014. Bob Klein was quoted in the 11th paragraph of Karen DeMasters' Financial Advisor article, Push Is On To Increase Social Security Retirement Age. Continue reading
Posted Jan 2, 2014 at Retirement Income Center
December 31, 2013. 2013 was a newsworthy year for Bob Klein and Retirement Income Center. Beginning with Robert Powell's January 11th Now is the Time for Tax-Efficient Investments article published in The Wall Street Journal's Market Watch that included two links to Retirement Income VisionsTM January 7th The 2013 Tax... Continue reading
Posted Dec 31, 2013 at Retirement Income Center
December 27, 2013. Bob Klein was extensively quoted in Karen DeMasters' Financial Advisor article, Advisors Neglect Written Financial Plans. The article follows the December 18th publication of Bob's article, Retired? Dust Off Your Retirement Plan in the MarketWatch section of The Wall Street Journal stressing the importance of retirees revisiting... Continue reading
Posted Dec 28, 2013 at Retirement Income Center
December 19, 2013. Bob Klein was featured as a RetiremEntrepreneur in today's Retirement Income Journal, the online information forum of the retirement income planning industry. Continue reading
Posted Dec 20, 2013 at Retirement Income Center
December 5, 2013. Bob Klein's article, Considering a Roth IRA Conversion Before Year-End? was published in today's MarketWatch section of The Wall Street Journal. Unless you fall into one of the six conducive income tax scenarios, this probably isn't a great time to do a Roth IRA conversion. Continue reading
Posted Dec 18, 2013 at Retirement Income Center
December 18, 2013. Bob Klein's article, Retired? Dust Off Your Retirement Plan was published in today's MarketWatch section of The Wall Street Journal. Retirement planning, like all financial planning, was never meant to be a onetime exercise. Just because your plan got you to retirement doesn't mean it will get... Continue reading
Posted Dec 18, 2013 at Retirement Income Center
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Whenever I'm doing retirement income planning for a client, one of the most, if not the most, important decisions that needs to be made is the duration of the plan, or plan timeframe. The starting point, i.e., today, can be easily defined; however, the termination date is unknown in all cases. This topic typically begins with a discussion of my client's parents' and grandparents' longevity. I'm always surprised how people attempt to correlate their life expectancy directly to that of their parents or grandparents, particularly when one or more of their ancestors may not have lived a long life. They... Continue reading
Posted Dec 9, 2013 at Retirement Income Visions
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Part 1 of this post made the point that if your goal is to receive sustainable lifetime income, in addition to Social Security, fixed income annuities offered by life insurance companies will meet your need. Please read Part 1 to learn about the three types of fixed income annuities, including each one's income start date. If you're seeking total flexibility for your lifetime income start date, then a fixed index annuity ("FIA") with an optional income rider is your best bet. Unlike single premium immediate annuities ("SPIA's") and deferred income annuities ("DIA's") where the sole purpose is to provide sustainable... Continue reading
Posted Dec 2, 2013 at Retirement Income Visions