Jerry Golden on Retirement

9 retirement planning trends that make us thankful

November 21, 2017 By Jerry Golden in Annuity, Miscellaneous Tags: 401(k), Annuities, Guaranteed Income, QLAC, Retirement planning trends, Social Security, Thanksgiving

As much as we look forward to the gathering around Thanksgiving, preparations for many of us include ticking off a mental list of what we cannot talk about for fear of igniting a feud in-between second helpings and dessert.

In the spirit of the holiday, I present a list of topics (about retirement of course) that fall into three categories:

Safe for dinner conversation.
Discuss only when Uncle Bob is out of the room.
Danger! Politics!

Whether you play it safe or plan to leave before the pie is served, here are nine retirement planning trends for which I am thankful this season. Please don’t blame me if some relatives at the table feel differently. More

The power behind Income Power

November 10, 2017 By Jerry Golden in Income Power Tags: Deferred income annuities, Income power, Kiplinger, Learning about Income Power, retirement savings

It’s hard to avoid advertisements that knock annuities. In fact, once you start doing online research about retirement, the warnings and diatribes will follow you to your inbox.

Every time I see one of these, I think of the quote from Albert Einstein: “If at first the idea is not absurd, then there is no hope for it.” Or to put it another way, the stages of reaction to an idea follow the predictable pattern of reject, resist, embrace and, finally, self-evident.

Having spent my career in the insurance, annuity and retirement industries, I know that certain annuities are overly complex. On the other hand, some are elegantly straightforward in their purpose and design. So, it’s just wrong to dismiss a category like annuities without investigating and understanding all the products or services within that category. More

How much of my retirement income should be guaranteed for life?

October 27, 2017 By Jerry Golden in Income Power Tags: Annuities, Income power, Kiplinger, Learning about Income Power, retirement income

Knowing the answer could reduce stress during retirement

Buying guaranteed income is in many ways like buying a car. You know you’ll enjoy owning it but the challenge of deciding which model and where to buy it may be unnerving. Just as you need a car for transportation, you need guaranteed retirement income for peace of mind. And similar to purchasing a car, you’ll need to make decisions about your guaranteed income.

How much do you want to spend? (% of savings allocated to purchase)
What model do you want? (current or future income)
What make? (annuity company)
Which options? (survivor benefits)

We built Go2Income to help investors answer those questions, for one simple reason. Many studies suggest that retirees appreciate the benefits of having guaranteed lifetime income, whether it comes from Social Security, a pension or income annuities. While the first two are automatic – with limited investor choices – the last is voluntary and very much underrepresented as a percentage of retiree savings. More

How I invented Income Power

October 10, 2017 By Jerry Golden in Income Power Tags: Annuities, Dependable spendable income, Guaranteed Income, Income power, Kiplinger, Learning about Income Power, retirement income

I have been a tinkerer and inventor my entire adult life, but instead of building a better mousetrap, I concentrate on financial products.

I started my career as an actuary and graduated to manage divisions of financial service companies. I even ran my own life insurance company. Now I’m an entrepreneur and financial advisor, constantly thinking about how to help people with the most common retirement question:

Will the money I saved for retirement last for the rest of my life?

My latest invention is Income Power, which tells investors how much lifetime income they can get from their retirement savings — guaranteed. It also helps analyze what steps to take if these savings won’t provide as much income as investors need. More

Income Power: Designed to Address Late-in-Retirement Expenses Other Calculators Ignore

September 28, 2017 By Jerry Golden in Income Power 2 Comments Tags: Kiplinger, Learning about Income Power

A visit to my new Income Power calculator at Go2Income.com might raise some questions both financial and existential. Income Power will help you answer them if you let it.

The financial question is easier, so let’s start with that.

People planning for retirement have asked why Income Power provides a path for substantial increases in income and continues that higher level of income beyond age 85, for life.

Conventional wisdom, they point out, states that living expenses go down as you age.