retirement income Archives - Page 7 of 24 - Jerry Golden on Retirement

Working the percentages for a better retirement

November 4, 2019 By Jerry Golden in Income Allocation Tags: advisor fees, Income allocation, Income annuities, retirement income

When dealing with percentages, an offer that sounds good at first may turn out to not be so great, depending on where you are in your retirement planning.

As you accumulate savings, for instance, you’re looking to generate growth in your account and so you may hire an investment advisor to help you make the best choices.

Their fees are typically around 1%.

That number seemed low to my trainer, for example: “Only 1% a year,” as he said.

(Of course, on $1 million of savings, you would pay $10,000 – and more – each year.)

How to reduce taxable RMDs and improve your retirement income plan

September 19, 2019 By Jerry Golden in Annuity, Income Allocation, QLAC Tags: Income annuities, QLAC, retirement income, RMDs

A reporter called me to ask whether investing in a QLAC would reduce a retiree’s RMDs and the tax that must be paid on them.

The short answer is Yes.

The complete answer is, think about the QLAC decision as part of a broader consideration of your retirement finances. Properly combined with your IRA investments, it can provide steady, lifetime income and may help you to fund a legacy to your heirs.

Let’s examine how you might create a retirement income plan that balances various investment opportunities.

Here is a case study

New ideas take patience and perseverance to become self-evident

July 1, 2019 By Jerry Golden in Annuity Tags: Annuities, guaranteed lifetime income, retirement income, tax benefits

The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man. – George Bernard Shaw

After four decades of inventing financial products that help people figure out how to retire comfortably, I am accustomed to the resistance these new ideas face. Please forgive me for trying to adapt the world of financial products to what I believe retirees and pre-retirees need.

As I’ve written about in this blog, I often critique financial advisers of all types who insist that their clients adapt their plans to the confines of whatever options the adviser’s business model supports. When it comes to retirement income planning, that model usually involves a pie chart of asset allocation, and a market simulation of when your income runs out.

From Jerry’s Desk:

May 3, 2019 By Jerry Golden in Annuity Tags: Annuities, From Jerry's Desk, retirement income

How I Designed My Own Retirement Plan

I have lots of experience in the insurance and retirement industries. While the knowledge gained in those experiences enables me to offer Go2Income’s unique retirement income planning solutions, it’s one thing to espouse a point of view, and quite another to put it into practice. With success.

In this new monthly series, From Jerry’s Desk, I will share my personal experience and the strategies (but not my personal numbers) that I have implemented for myself and my family.

Securing income first is a philosophical – not numerical – approach

“Income first” has allowed me to “retire” from corporate life and start a new business – Go2Income – with the hope of helping others secure the retirement they want, from travelling to finding the perfect lifestyle and even being an entrepreneur.

Retirement Planning Reinvented

February 28, 2019 By Jerry Golden in Income Allocation Tags: Income allocation, Jerry Golden, retirement income

You might think I sound presumptuous when I say that a new era in retirement planning has begun.

But I plan to prove it to you.

An innovative difference

A new retirement planning method, available here, demonstrates that by properly allocating the smartest sources of income, you can create more income, with less market risk — for the rest of your life. And you can do most of the research without an advisor.

Retirees and people planning for retirement can follow any number of paths. Most consider – or have been offered – only a fraction of them. Online tools, investment advisors and financial planners supply limited options.

Why? The biggest problem is that most retirement advice is geared toward asset allocation. Most tools can handle only a few strategies based on the allocation of assets, thus ignoring major categories of financial vehicles and leaving retirees with market risks. Advisors often guide customers to products that they are already selling. And many are not educated on all the ways retirees can create income security.

When you instead build your retirement on a foundation of income allocation, a new world opens up.

Sources of income create income security

For most Boomers, the greatest fear in retirement is running out of money. Income Allocation logically focuses on allocations of income among dividends, interest, annuity payments and withdrawals (early in retirement) and between Rollover IRA and taxable accounts (for tax efficiency). The result is lifetime income, and more of it, and actually more liquidity. In the long run, you will also increase the financial legacy you can leave as well.