Retirement Income Redesigned: Master Plans for Distribution -- An Adviser's Guide for Funding Boomers' Best Years

ISBN-13: 9781576601891 / Angielski / Twarda / 2006 / 400 str.

Harold Evensky; Deena B. Katz

Opis

Clients nearing retirement have some significant challenges to face. And so do their advisers. They can expect to live far longer after they retire. And the problems they expect their advisers to solve are far more complex. The traditional sources of retirement income may be shriveling, but boomers don't intend to downsize their plans. Instead, they're redefining what it means to be retired--as well as what they require of financial advisers. Planners who aren't prepared will be left behind. Those who are will step up to some lucrative and challenging work. To help get the work done, Harold Evensky and Deena Katz--both veteran problem solvers--have tapped the talents of a range of experts whose breakthrough thinking offers solutions to even the thorniest issues in retirement-income planning:

• Sustainable withdrawals
• Longevity risk
• Eliminating luck as a factor in planning
• Immediate annuities, reverse mortgages, and viatical and life settlements
• Strategies for increasing retirement cash flow

In Retirement Income Redesigned, the most-respected names in the industry discuss these issues and a range of others.

Spis treści

Acknowledgments ix

About the Contributors xi

Foreword by Walter Updegrave xxiii

PART ONE: FACING THE NEW REALITIES 1

1 Boomers: A Force for Change 5
Deena B. Katz

2 Maslow Meets Retirement 17
Mitch Anthony and Lewis J . Walker

3 Decision Making at Retirement: High Stakes for the Long Haul 33
Donald G. MacGregor

4 Reinventing Retirement 49
Mitch Anthony

PART TWO: ASSESSING THE RISKS 65

5 Psychological Impediments to Retirement–Income Planning 69
Mathew Greenwald

6 Lifelong Retirement Income: How to Quantify and Eliminate Luck 77
Jim C. Otar

7 Balancing Mortality and Modeling Risk 97
Cynthia Saltzman

8 Monte Carlo Mania 117
Robert D. Curtis

9 Understanding Required Minimum Distributions 141
April K. Caudill

PART THREE: SHAPING THE SOLUTIONS 157

10 Risk Management During Retirement 163
Moshe A. Milevsky With Anna Abaimova

11 Withdrawal Strategies: A Cash Flow Solution 185
Harold Evensky

12 Asset Allocation: The Long View 203
Laurence Booth

13 Sustainable Withdrawals 217
William P. Bengen

14 Tools and Pools: Strategies for Increasing Retirement Cash Flow 237
Robert P. Kreitler

15 Creating Portfolios With Lower Volatility 255
Louis P. Stanasolovich

16 Reverse Mortgages in Distribution Planning 281
Roxanne Alexander and Michael J. Anderson

17 Life Insurance Benefits No Waiting 305
Douglas Head

18 Longevity Risk Insurance 311
Roger G. Ibbotson, Michael C. Henkel, and Peng Chen

19 Immediate Annuities: Structure, Mechanics, and Value 323
R. H. "Rick" Carey and Jeffrey K. Dellinger

20 The Search for Software 343
Joel P. Bruckenstein

Continuing Education Exam 353

Index 361

O autorze

Harold Evensky is chairman of Evensky & Katz, a financial–advisory firm in Coral Gables, Florida.

Deena B. Katz is president. Their combined experience totals more than forty–eight years. Their innovation and skill have earned them the loyalty of clients; their daring and dedication have won them the respect of their peers.
Evensky and Katz are the editors of The Investment Think Tank: Theory, Strategy, and Practice for Advisers Evensky is the author of Wealth Management: The Financial Advisor′s Guide to Investing and Managing Client Assets; Katz is the author of Deena Katz on Practice Management and Deena Katz′s Tools and Templates for Your Practice. Both are featured speakers at national and international legal, accounting, investment, and financial–planning conferences, and both are published widely and quoted extensively in financial journals and in newspapers.