Retirement Income Center

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 […] The post 3 Pitfalls of Social Security Optimizers appeared first on Retirement Income Center.

Given the fact that opportunities to reduce RMDs and associated income tax liability are limited, QLACs are an attractive alternative. The post Is a QLAC Right for You? appeared first on Retirement Income Center.

When you retire, how would you like to wake up each morning knowing that 50% or more of your income will automatically be deposited in your checking account each month for the rest of your life? How would that make you feel? If you think like retirees who responded to a recent Towers Watson survey, […] The post How to reduce retirement anxiety appeared first on Retirement Income Center.

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and projected lifetime value of your estate is less than $5.5 million, or potentially $11 million, your plan may be outdated. The post Has Your Estate Plan Outgrown You? appeared first on Retirement Income Center.

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 guest on an hour-long radio talk show, Living Your […] The post 2014 Was an Eventful Year appeared first on Retirement Income Center.

The Social Security Administration gives us a lot of leeway when it comes to choosing a date when we want to start receiving retirement benefits. There’s basically an eight-year window, beginning at age 62 and ending at 70 with corresponding monthly benefit reductions and increases based on full retirement age. Full retirement age is currently […] The post Starting Social Security later—for your spouse’s sake appeared first on Retirement Income Center.

Can we still plan to retire at a specific age? The post Can We Still Plan to Retire at a Specific Age? appeared first on Retirement Income Center.

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. The post QLACs are Here appeared first on Retirement Income Center.

Attention all shoppers: Stay clear of the Roth IRA conversion aisle this Friday. Two years ago I wrote and published an article, Black Friday – Think Roth IRA Conversion. At the time, the Dow Jones Industrial Average [DJIA] declined 1,000 points, or 8%, in two months, closing at 12,588 on November 16, 2012 after finishing […] The post No Black Friday bargains on Roth IRA conversions appeared first on Retirement Income Center.

If you’re retired and you use traditional withdrawal strategies, you probably ask yourself the following question each year, “Should I withdraw 4%, 5%, or 6% of my investment portfolio value?” This question is often accompanied by one or more of the following six questions: Which portfolio value should I use to calculate my withdrawal amount […] The post How annuities can provide a secure retirement withdrawal strategy appeared first on Retirement Income Center.

One of the most important financial goals for retirees is maximization of after-tax income. A Roth IRA can help minimize income tax liability. The post 5 Ways to Reduce Your Tax Liability Using Roth IRA Conversions appeared first on Retirement Income Center.

After increasing almost 2,000 points from a closing low of 15,373 on Feb. 3 to a closing high of 17,280 on Sept. 19, the Dow Jones Industrials Average gave up almost 1,200 points, or 6.7%, in less than 30 days when it closed at 16,117 on Oct. 16. With just seven trading days under our […] The post Don’t let the next downturn undermine your retirement appeared first on Retirement Income Center.

There are a lot of moving parts to consider when doing retirement planning. Healthcare expenses are an important consideration in this process. The post Are Healthcare Expenses Included in Your Retirement Plan? appeared first on Retirement Income Center.

A proposal in President Obama’s 2015 budget, if approved, would require nonspousal IRA beneficiaries such as children to accelerate distribution and taxation of inherited IRAs. All IRA account owners and beneficiaries are required to take annual minimum distributions, or RMDs, using end-of-the-year account values and an Internal Revenue Service life- expectancy table factor to calculate […] The post Extend the life of your children’s inherited IRAs appeared first on Retirement Income Center.

The most recent potential retirement income planning game-changer, qualified longevity annuity contracts, or "QLAC's," have received a fair amount of press since the Treasury and IRS finalized a regulation in the beginning of July blessing their use. The post Don’t Expect to See QLAC’s Soon appeared first on Retirement Income Center.

Beneficiary forms play a crucial role, and often supersede wishes as expressed in your will and other formal estate-planning documents for certain types of assets and life insurance policies. The post Why an air-tight will can’t protect beneficiaries appeared first on Retirement Income Center.

Looking for something different to give to your mom or dad for their next birthday? How about long-term care insurance? Don’t laugh. If they don’t have it already, this will undoubtedly be the most meaningful and memorable gift you give to your parents and you — even if your mom or dad never uses it. […] The post Long-term care insurance makes a great birthday gift appeared first on Retirement Income Center.

My goal in writing Retirement Income Visions ™ is to share innovative planning strategies that you can use to create and optimize your retirement income. The post Retirement Income Visions Celebrates 5-Year Anniversary! appeared first on Retirement Income Center.

Longevity insurance was blessed by the IRS with a regulation allowing the inclusion of an advanced-age lifetime-income option in retirement plans. The post You Don’t Have to Wait Until 85 to Receive Your Annuity Payments appeared first on Retirement Income Center.

Every now and then the Department of the Treasury and IRS surprise us with taxpayer-friendly legislation that addresses pervasive retirement income planning concerns. One of the most anxiety-provoking subjects that frighten many people more than death is the possibility of outliving one’s assets. Recognizing this issue, the Department of Labor, the IRS, and the Department […] The post 6 ways a new tax law benefits a sustainable retirement appeared first on Retirement Income Center.