In this our second in a series of articles about helping clients in the Accumulation Phase of Retirement Planning, we address the second root cause of inadequate retirement saving, which is the difficulty of balancing current family needs with future retirement needs. People want to set aside more money for retirement, but they are spending…

A major decision in retirement planning is identifying when to begin withdrawing Social Security retirement benefits. If you begin receiving benefits before your normal retirement age, you receive a smaller monthly benefit, but with a longer life expectancy (resulting in more benefit checks received); if you delay until after normal retirement age, you get larger…

In a series of articles, we will provide you with some practical guidance when working with clients or prospects who are still years from retirement and want to accumulate sufficient capital that will provide the income they require to realize financial independence. We refer to these people as in the “Accumulation Lifecycle Phase,” as opposed…

Getting old isn’t easy.  Neither is entering retirement.   Many clients between the ages of 62 and 70 will be filing for the first time for Social Security benefits and those reaching age 65 this year will be filing for Medicare Insurance.  As a financial advisor or financial planner, you need to be versed on both…

The eleventh survey in the Allstate-National Journal Heartland Monitor polling series reveals dramatic changes are taking place in the retirement planning landscape due to the recession. As a result, near retirees (age 50+) expect to retire six years later than those who have already retired and 68% expect to work during retirement, up dramatically from…

There are pros and cons to generating cash flow through single-premium fixed immediate annuities versus systematic withdrawals from an investment portfolio. Pros It provides the maximum cash flow per level of risk, particularly with fixed annuities in the near term. If structured for life (lives), the annuitant cannot outlive the income. May be useful in…

What does your past experience with clients tell you when they experience more confusion and anxiety about their finances than any other time in their lives? Most of you will probably immediately think of what we call “The Retirement Transition Phase.” This is when clients have reached a point when they want to retire or…

Required Minimum Distributions resume in 2010 You will recall that the Worker, Retiree, and Employer Recovery Act of 2008 (WRERA) waived 2009 required minimum distributions (RMDs) from Individual Retirement Arrangements (IRAs), SEPs, SIMPLEs, SARSEPs, 401(k), Profit-Sharing, Money Purchase Pension, 403(b), and certain 457 retirement plans. The waiver for 2009 was optional, but the required distributions…