Retirement Income Center

The introduction to one of my recent MarketWatch RetireMentors columns, You Need a Plan to Retire Before You Plan to Retire, stated, "You're not going to retire when you plan on retiring. You're probably going to retire earlier." The post What is Your Planned Retirement Trigger? appeared first on Retirement Income Center.

As a seasoned CPA, I remember the good old days when there were lots of loopholes in the tax law that I could use to minimize clients’ income tax liability. I also value opportunities to help my clients maximize their Social Security benefits. Like tax loopholes, they’re often not obvious and require intimate knowledge, familiarity, […] The post Social Security loophole’s huge windfall opportunity appeared first on Retirement Income Center.

One of the most important “aha” moments I communicate to clients when we’re doing retirement income planning is the following: You’re not going to retire when you plan on retiring. You’re probably going to retire earlier. This is ironic given the fact that clients often hire me to design and implement a plan that will […] The post You need a plan to retire before you plan to retire appeared first on Retirement Income Center.

Retirement planning is a time-sensitive and arduous task that requires a high level of discipline and commitment over the duration of one's adult years, not to mention specialized expertise. The post Do You Want to RAP or Do You Prefer to RIP? appeared first on Retirement Income Center.

When we make financial decisions, we often don't think about the long-term effects – good and bad – they will have on other people. The post I Paid for My Dad’s Funeral appeared first on Retirement Income Center.

In addition to understanding the details of a potential investment and how it will meet your needs, there are occasions when you need to decide where it will be held. Will your investment reside in a nonretirement or retirement account? There are different income-tax consequences that can affect the longevity of a particular investment as […] The post 8 reasons fixed-income annuities belong in your IRA appeared first on Retirement Income Center.

Deferred income annuities provide payments for your lifetime or for a contractually-defined term. Consider a death benefit feature when purchasing DIAs. The post Consider a Death Benefit When Buying Deferred Income Annuities appeared first on Retirement Income Center.

It’s no secret that high-income households have historically paid more than their fair share of income tax relative to their numbers. For the 2013 filing season for 2012 individual income tax returns, as of July 25, 2013, IRS processed 137 million returns with adjusted gross income, or AGI (gross income minus deductions for AGI), totaling […] The post Wealthy paid 13% more tax on same income appeared first on Retirement Income Center.

The disconnect between the need for sustainable lifetime income in one's retirement income plan will lessen as the marketplace becomes better educated. The post The Retirement Income Planning Disconnect appeared first on Retirement Income Center.

Do you ever wonder if all the sacrifice and delayed gratification associated with saving for retirement is really worth it? Wouldn’t you rather spend some of that money now on a nice trip to Hawaii, assuming that you don’t already live there? Let’s face it; retirement planning is a long, arduous process that requires a […] The post Retirement: The more you know, the more you save appeared first on Retirement Income Center.

When a loved one requires long-term care, it can have a profound effect on a family. Long-term Care Insurance (LTCI) can help you protect your family. The post Want to Protect Your Family? Make LTCI a Priority appeared first on Retirement Income Center.

Rather than trying to accumulate a single lump sum for retirement, we need to accumulate streams of income that will match our projected expenses during various stages of retirement. The post Accumulate Income, Not Assets, for Retirement appeared first on Retirement Income Center.

Generally speaking, one of the benefits of working for a large employer is the ability to participate in a 401(k) plan. This is all well and good, however, your 401(k) plan, in and of itself, probably won’t provide you with adequate retirement income to meet your financial needs in most cases. A 401(k) plan is […] The post Don’t depend on your employer for retirement appeared first on Retirement Income Center.

Because the components of net worth can be quite different from one person to another, it doesn't matter how your net worth compares to someone else. When it comes to retirement planning, what's most important is how you plan for sustainable income and meeting your expenses. The post When It Comes to Retirement Planning, It’s All About You appeared first on Retirement Income Center.

If you’re a participant in a 401(k) plan, you probably signed up for your employer’s plan and continue to participate in it because of the variety of benefits available from this unique type of retirement arrangement. These include: Automatic savings that might not otherwise occur Reduction of taxable earnings for amounts contributed to non-Roth 401(k) […] The post No plan for your 401(k)? You’re not alone appeared first on Retirement Income Center.

Whether you have an annuity contract that's maturing in the near future or you're considering doing a tax-free exchange to replace your existing contract, don't overlook annuitization options on your existing contract. The post A Hidden Treasure: Annuitization Options on Older Annuity Contracts appeared first on Retirement Income Center.

When will you retire? This is a critical decision that will affect how you will spend the remaining 7% to 45% of your life, depending upon when you retire and how long you live. The percentages assume that you retire between age 55 and 70 and live until age 75 to 100. How do you […] The post When it comes to retirement, it pays to be an optimist appeared first on Retirement Income Center.

While many FPDA's provide for indefinite additional investments, several have a limited defined window of opportunity. The post How Flexible are Flexible Premium Deferred Annuities? appeared first on Retirement Income Center.

When planning for a major event, financial or otherwise, the key to success is starting with the right question. If you don’t do this, it’s easy to get sidetracked and not accomplish what you set out to do. The looming question in every person’s mind contemplating retirement is, “Will I have enough assets to last […] The post Planning to retire? Start with the right question appeared first on Retirement Income Center.

The income rider charge is a small price to pay to obtain the unique combination of benefits offered by a FIA income rider. The post Fixed Index Annuity Income Rider Charge – Is It Worth It? – Part 2 of 2 appeared first on Retirement Income Center.