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.
Jadual kandungan
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. Mac Gregor
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
Mengenai Pengarang
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.
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