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Robert Klein
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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 7 minutes ago 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
November 15, 2014. Bob Klein's interview with Bruce Alan of WTOP 103.5 FM from Washington, D.C. that was recorded on October 30th aired today. Bob discussed the use of fixed income annuities as a retirement income planning strategy with Bruce. The interview was solicited in response to Bob's MarketWatch RetireMentors... Continue reading
Posted Nov 16, 2014 at Retirement Income Center
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One of the most important financial goals for retirees is maximization of after-tax income. There are two ways to accomplish this: (a) maximize pre-tax income and (b) minimize income tax liability. A Roth IRA can go a long way toward helping you achieve the latter. There are two ways to fund a Roth IRA: (a) annual contributions and (b) conversions. Annual contributions, in and of themselves, generally won't result in a significant source of retirement income due to the relatively low limitation – currently $5,500 or $6,500 if you're age 50 or older. In addition, eligibility to make Roth IRA... Continue reading
Posted Nov 3, 2014 at Retirement Income Visions
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 Oct 28, 2014 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