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Robert Klein
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October 28, 2014. Bob Klein's article, Don't Let the Next Downturn Undermine Your Retirement, was published in today's MarketWatch section of The Wall Street Journal. The recent flash correction reminds us about the importance of addressing the sequence of returns investment risk when planning for retirement using sustainable income strategies... Continue reading
Posted 2 days ago at Retirement Income Center
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There are a lot of moving parts to consider when doing retirement planning. Pre-retirees have done a good job overall with addressing certain tasks, including estimating monthly expenses in retirement and determining the best time to take Social Security. These two tasks have been performed by 64% and 68%, respectively, of affluent pre-retirees according to the results of a Cogent Reports study, Investor Retirement Income Trends, published earlier this year. Healthcare is another story. According to the study, only 29% have determined the most sensible Medicare option for their situation and 32% have evaluated financial protection against major health event... Continue reading
Posted Oct 13, 2014 at Retirement Income Visions
October 6, 2014. Bob Klein's article, Extend the Life of Your Children's Inherited IRAs, was published in today's MarketWatch section of The Wall Street Journal. An investment planning opportunity is available to address a proposal in President Obama's 2015 budget that, if approved, would accelerate distribution of IRAs inherited by... Continue reading
Posted Oct 6, 2014 at Retirement Income Center
Boston, MA - September 14 - 15, 2014. Bob Klein attended the Winning in IRA Rollovers conference, sponsored by Financial Research Associates, at The Harvard Club. Bob increased his knowledge and expertise in this important and growing retirement income planning area. Continue reading
Posted Sep 17, 2014 at Retirement Income Center
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One of the most exciting retirement income planning opportunities since the elimination of the Roth IRA conversion income threshold in 2010 has been approved, however, it isn't available yet for purchase. For those of you who may not be familiar with the change in Roth IRA conversion eligibility rules, prior to 2010, only taxpayers with modified adjusted gross income of less than $100,000 were eligible to convert a traditional IRA to a Roth IRA. With the elimination of the income threshold, Roth IRA conversions have soared in popularity since anyone may convert part, or all, of his/her traditional IRA to... Continue reading
Posted Sep 15, 2014 at Retirement Income Visions
September 13, 2014. Bob Klein was interviewed for the last half hour of The Financial Quarterback with Josh Jalinski radio show on WOR 710 from New York City. Bob discussed his MarketWatch article that was published earlier this week, Why an Air Tight Will Can't Protect Beneficiaries. WOR is a... Continue reading
Posted Sep 13, 2014 at Retirement Income Center
September 9, 2014. Bob Klein's article, Why an Air-Tight Will Can't Protect Beneficiaries, was published in today's MarketWatch section of The Wall Street Journal. Beneficiary forms often play a crucial role in determining who will receive your assets when you die. It’s important to coordinate beneficiary designations on these forms... Continue reading
Posted Sep 9, 2014 at Retirement Income Center
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