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

by Evensky, Harold; Katz, Deena B.; Updegrave, Walter

• ISBN13: 9781576601891
• ISBN10: 1576601897
• Edition: 1st
• Format: Hardcover
• Copyright: 2006-04-01
• Publisher: Bloomberg Press

Summary

For years, financial planners have focused on helping their clients accumulate wealth for retirement. Now, as millions of those boomer clients head into retirement, there is little quality information on how to manage that wealth in retirement. Evensky and Katz, two of the nation's best-known financial planners, asked leading experts to give advisers a toolkit and roadmap to the new landscape. Included are valuable insights and practical approaches for increasing retirement cash flow, withdrawal strategies, longevity insurance, creating portfolios with low volatility, and decision making. Each of the 26 contributors offers fresh research and solutions for forecasting income needs, evaluating client needs, and communicating effectively with clients. Armed with these more effective approaches to distribution and improved methodologies for planning, financial advisers and wealth managers will be able to make their clients? golden years shine ever more brightly.

Author Biography

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.

Table of Contents

Acknowledgments	x
About the Contributors	xi
Foreword by Walter Updegrave	xxiii
PART ONE FACING THE NEW REALITIES
1 Boomers: A Force for Change	5	(12)
DEENA B. KATZ
2 Maslow Meets Retirement	17	(16)
MITCH ANTHONY AND LEWIS J. WALKER
3 Decision Making at Retirement: High Stakes for the Long Haul	33	(16)
DONALD G. MACGREGOR
4 Reinventing Retirement	49	(16)
MITCH ANTHONY
PART TWO A ASSESSING THE RISKS	65	(92)
5 Psychological Impediments to Retirement-Income Planning	69	(8)
MATHEW GREENWALD
6 Lifelong Retirement Income: How to Quantify and Eliminate Luck	77	(20)
JIM C. OTAR
7 Balancing Mortality and Modeling Risk	97	(20)
CYNTHIA SALTZMAN
8 Monte Carlo Mania	117	(24)
ROBERT D. CURTIS
9 Understanding Required Minimum Distributions	141	(16)
APRIL K. CAUDILL
PART THREE SHAPING THE SOLUTIONS	157	(196)
10 Risk Management During Retirement	163	(22)
MOSHE A. MILEVSKY WITH ANNA ABAIMOVA
11 Withdrawal Strategies: A Cash Flow Solution	185	(18)
HAROLD EVENSKY
12 Asset Allocation: The Long View	203	(14)
LAURENCE BOOTH
13 Sustainable Withdrawals	217	(20)
WILLIAM P. BENGEN
14 Tools and Pools: Strategies for Increasing Retirement Cash Flow	237	(18)
ROBERT P. KREITLER
15 Creating Portfolios With Lower Volatility	255	(26)
LOUIS P. STANASOLOVICH
16 Reverse Mortgages in Distribution Planning	281	(24)
ROXANNE ALEXANDER AND MICHAEL J. ANDERSON
17 Life Insurance Benefits—No Waiting	305	(6)
DOUGLAS HEAD
18 Longevity Risk Insurance	311	(12)
ROGER G. IBBOTSON, MICHAEL C. HENKEL, AND PENG CHEN
19 Immediate Annuities: Structure, Mechanics, and Value	323	(20)
R.H. "RICK" CAREY AND JEFFREY K. DELLINGER
20 The Search for Software	343	(10)
JOEL P. BRUCKENSTEIN
Continuing Education Exam	353	(8)
Index	361