Choosing A Retirement Income Strategy
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Choosing A Retirement Income Strategy
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Author : Wade D. Pfau
language : en
Publisher:
Release Date : 2015
Choosing A Retirement Income Strategy written by Wade D. Pfau and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
The race is on to build frameworks to evaluate retirement income strategies for clients facing various post-retirement circumstances. Retirement income planning is a complicated process in which clients must balance competing tradeoffs (maximize spending, protect from income shortfalls, leave a bequest) over an uncertain lifespan. After providing an overview of the basic building blocks of retirement income strategies, this article seeks to explain best practices, highlight potential missteps and problems which may arise, clarify areas where controversies and disagreements remain, and suggest further enhancements and modifications to make retirement income frameworks as useful as possible. The best practices described here include a description of the approaches and products to be included in a complete framework, the use of simulations or scenario testing as a way to understand how strategies respond in a variety of market circumstances, the need to connect asset market return assumptions to current market conditions rather than historical averages, the need to apply consistent fees across strategies, the need to distinguish how outcomes will differ when using either survival probabilities or fixed horizons, and other matters. The article concludes with a discussion of evaluation criteria, which can be subdivided into three general groupings. These include measures focusing on downside spending in bad luck cases, measures focusing on overall or upside spending or translating spending into the value it provides, and measures taking into account remaining assets at the end of the retirement period.
Choosing A Retirement Income Strategy
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Author : Wade D. Pfau
language : en
Publisher:
Release Date : 2015
Choosing A Retirement Income Strategy written by Wade D. Pfau and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
This article presents the initial stages of a new evaluation framework for choosing among retirement income strategies. The investigation includes eight retirement income strategies: constant inflation-adjusted withdrawal amounts, a constant withdrawal percentage of remaining assets, a withdrawal percentage based on remaining life expectancy, a more aggressive hybrid withdrawal percentage, inflation-adjusted and fixed single premium immediate annuities, a variable annuity with a guaranteed living withdrawal benefit rider, and a strategy which annuitizes the flooring level to meet basic needs and uses the hybrid withdrawal percentage for remaining assets. These eight strategies will be analyzed with six retirement outcome measures over a 30-year retirement period: the average amount whereby spending falls below the minimally acceptable level, the average spending amount, the remaining bequest at the end of the retirement period, the minimum spending amount for any year in the retirement period, a measure of whether spending increases or decreases over time defined as spending in the first year divided by spending in the 30th year, and the value of total spending after accounting for diminishing returns from increased spending for a client with somewhat inflexible spending needs. The model is applied to three client scenarios representing a cross-section of RIIA's client segmentation matrix. It is built using Monte Carlo simulations which reflect current market conditions, so that systematic withdrawals and guaranteed products share compatible underlying assumptions.
The Complete Idiot S Guide To Retirement Planning
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Author : Jeffrey J. Wuorio
language : en
Publisher: Penguin
Release Date : 2007-12-04
The Complete Idiot S Guide To Retirement Planning written by Jeffrey J. Wuorio and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-04 with Business & Economics categories.
A necessary plan for a secure and comfortable retirement Everyone wants to retire with personal and financial peace of mind. But the question is always: will there be enough money to fund a comfortable lifestyle? That’s where this book comes to the rescue, addressing every conceivable concern—from health care to Social Security—about setting up a sound plan for retirement. And it’s never too late to start. • The Center for Retirement Research at Boston College reports that 43% of Americans fall short of their pre-retirement income • Robert Powell of MarketWatch agrees that “Americans have little set aside for retirement” • Written by a nationally recognized financial expert • Perfect for the nearly eight million baby boomers approaching retirement
Retire Rich
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Author : Bambi Holzer
language : en
Publisher: John Wiley & Sons
Release Date : 1999-09-28
Retire Rich written by Bambi Holzer and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-09-28 with Business & Economics categories.
Die Altersvorsorge betrifft einen sehr wichtigen privaten Finanzbereich. Hierzu gibt es eine Flut von verwirrenden Fragen, wie z.B.: Wie plane ich? Wieviel spare ich? Welche Anlagemöglichkeiten sind die besten? Wie nutze ich Unternehmensleistungen? In diesem Leitfaden finden Sie die Antworten. Er wurde speziell für Leute im Alter zwischen 30 und 40 konzipiert, die aus einer großen Auswahl von Möglichkeiten zur Altersvorsorge schöpfen können und vielleicht sogar schon mit der Planung begonnen haben. Sie werden mit den verschiedenen Möglichkeiten und auch mit speziellen Aspekten gegenwärtiger und künftiger Finanzplanung vertraut gemacht. Verständlich geschrieben, überschaubar und klar strukturiert, liefert Ihnen dieses Buch alle Informationen zu einem brandheißen Finanzthema. (10/99)
Guide To Managing Retirement Income
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Author : Virginia B. Morris
language : en
Publisher: Lightbulb Press, Inc.
Release Date : 2005
Guide To Managing Retirement Income written by Virginia B. Morris and has been published by Lightbulb Press, Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Finance, Personal categories.
Living The Good Life
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Author : Sid Miramontes
language : en
Publisher:
Release Date : 2018-04-30
Living The Good Life written by Sid Miramontes and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-30 with categories.
Retirement Income
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Author : Mark Warshawsky
language : en
Publisher: MIT Press
Release Date : 2012
Retirement Income written by Mark Warshawsky and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
Strategies, products, and public policies that will help a new generation of retirees maximize income and minimize risk. As members of the baby boom generation head into retirement, they face an economic environment that has changed noticeably since their parents retired. Most of these new retirees will not be equipped, as many in the earlier generation were, with private pension plans, early retirement options, and fully paid retiree health benefits in addition to Social Security and Medicare. Today it is increasingly left to retirees themselves to plan how to maximize retirement income and minimize risk. In Retirement Income, Mark Warshawsky and his colleagues describe strategies, products, and public policies that will help a new generation achieve financial security and income growth in retirement. Warshawsky, a noted expert in the field who has worked in both government and private industry, analyzes two insurance vehicles, life annuities and long-term care insurance, and their capacity to protect against the extra costs arising from longevity and disability. He proposes two innovations. The first is a strategy that includes a set percentage withdrawal from a balanced portfolio, which is gradually used to purchase a ladder of life annuities. The second proposal, which includes a description of the potential choices in product design and available tax characteristics, is a product that integrates the immediate life annuity and long-term care insurance. With Retirement Income, Warshawsky offers practical ideas based on the results of empirical investigations and analyses, which can be applied to household decision making by retirees and their financial planners and to the design of insurance products and public policy.
An Overview Of Retirement Income Strategies
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Author : Michael S. Finke
language : en
Publisher:
Release Date : 2016
An Overview Of Retirement Income Strategies written by Michael S. Finke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This paper provides an introduction to strategies that can be used to turn a retirement portfolio into income. Defined contribution savings present a retirement planning challenge when asset returns, longevity, and spending needs are uncertain. We present the fundamental trade-offs of managing an investment portfolio and decumulating investments in retirement, and we discuss the potential benefit of financial products that address portfolio and spending risks. Simulations illustrate the trade-offs among legacy, liquidity, and shortfall risk. We dis-cuss a comprehensive strategy that combines longevity protection, portfolio allocation, and dynamic spending based on realized portfolio returns to provide a guideline for professionals building retirement income plans for clients. We then provide an overview of the benefits of adding products such as annuities to a traditional investment portfolio to reduce longevity risk and increase expected spending. The primary purpose of this paper is to provide a fundamental overview of current research and theory on retirement income planning.
Retirement Income Strategy If Financial Planning Is Not Enough
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Author : Retirement Reimagination Academy
language : en
Publisher:
Release Date : 2019-09-17
Retirement Income Strategy If Financial Planning Is Not Enough written by Retirement Reimagination Academy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-17 with categories.
If you want to learn how to generate a passive income stream so you can live your retirement dreams, then keep reading ... Did you know: Experts say that people need a nest egg of $1 million to get them through a 30-year retirement. A staggering 57% of Americans have less than $1,000 in their accounts. ⅓ of the baby-boomer generation has absolutely no money in their savings account. Retirement should be a time to live your dreams. After a lifetime of working a 9-5 job, you are finally free to do the things that you want to do. You might want to travel the world, or spend time with your loved ones, or maybe just relax in the sunshine and take each day as it comes. Sadly enough the first question that pops up is, How much will this dream life cost? There is no magic number. $1 million used to be the amount you needed to be assured a comfortable retirement. But according to Dave Ramsey, one of America's most trusted financial experts, this amount might not even be enough to provide you with the retirement you desire. GOBankingRates go even further and say that $1million could easily be wiped out in just twelve years. Don't panic! It can be overwhelming to imagine how much money a quality retirement costs. Especially if you, like most Americans, don't have anywhere near this figure in your savings account. But you don't need to worry. The internet provides a wealth of opportunities to create a passive income that can pay for the retirement that you want, and even allow you to leave a legacy that can give your loved ones a helping hand in following their dreams too. If you are willing to change your perspective and embrace this new chapter of your life with an open mind, you can start earning money from the comfort of your own home. Through the internet anything is possible! Age is absolutely not a barrier between you and your dream life. It�s rather an advantage. No matter how old you are, you can leverage the internet to your benefit, and start earning money to pay for your retirement. In this book, "Retirement Income Strategy If Financial Planning Is Not Enough", you will discover: The number one saving hack for your worry free retirement The best way to plan for the future and put your affairs in order, so that you and your family can breathe easy, no matter what happens Five ways to turn this three-figure sum into an amount that will make you crush it in retirement How to turn your passion into your profession The secrets to traveling the world without breaking the bank and how to turn your life into a holiday How to turn the unused space in your home into dollar bills How to visualise your ideal retirement and then create a plan to realise it The best method to calculate the amount that you need to retire The 3 most important websites to market yourself And much, much more. The number one trap that especially Seniors may fall into is thinking that creating a passive income through the internet is complicated and requires high-level computer skills. It's natural that you feel overwhelmed by all the possibilities the internet offers for making money. Yet, this book teaches you that EVERYONE can create a passive income stream online. It doesn't matter how old you are. Through an easy-to-read, step-by-step guide you will discover how you can turn your retirement dreams into reality in no time. If you want to live the dream in your retirement, scroll up and click the "Add to Cart" button right now.
The Charles Schwab Guide To Finances After Fifty
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Author : Carrie Schwab-Pomerantz
language : en
Publisher: Crown Currency
Release Date : 2014-04-01
The Charles Schwab Guide To Finances After Fifty written by Carrie Schwab-Pomerantz and has been published by Crown Currency this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-01 with Business & Economics categories.
Here at last are the hard-to-find answers to the dizzying array of financial questions plaguing those who are age fifty and older. The financial world is more complex than ever, and people are struggling to make sense of it all. If you’re like most people moving into the phase of life where protecting—as well as growing-- assets is paramount, you’re faced with a number of financial puzzles. Maybe you’re struggling to get your kids through college without drawing down your life’s savings. Perhaps you sense your nest egg is at risk and want to move into safer investments. Maybe you’re contemplating downsizing to a smaller home, but aren’t sure of the financial implications. Possibly, medical expenses have become a bigger drain than you expected and you need help assessing options. Perhaps you’ll shortly be eligible for social security but want to optimize when and how to take it. Whatever your specific financial issue, one thing is certain—your range of choices is vast. As the financial world becomes increasingly complex, what you need is deeply researched advice from professionals whose credentials are impeccable and who prize clarity and straightforwardness over financial mumbo-jumbo. Carrie Schwab-Pomerantz and the Schwab team have been helping clients tackle their toughest money issues for decades. Through Carrie’s popular “Ask Carrie” columns, her leadership of the Charles Schwab Foundation, and her work across party lines through two White House administrations and with the President’s Advisory Council on Financial Capability, she has become one of America’s most trusted sources for financial advice. Here, Carrie will not only answer all the questions that keep you up at night, she’ll provide answers to many questions you haven’t considered but should.