Retirement Income Center News Archive

On the heels of Bob Klein’s March 16th blog post, “Will Congress Suspend 2020 Required Minimum Distributions?,” the Senate passed the massive “Coronavirus Aid, Relief, and Economic Security Act,” or the “CARES Act,” which is expected to be passed by the House and signed by the President on Friday.

The legislation includes a waiver of required minimum distributions (RMDs) for 2020. This waiver applies to company savings plans and IRAs, including both traditional and Roth inherited IRAs.

(SAN FRANCISCO) Bob Klein attended Ed Slott’s two-day workshop on February 21st – 22nd. The conference featured the SECURE Act, which was enacted on December 20, 2019 and is the most significant retirement security legislation in more than a decade.

Ed Slott is a nationally recognized professional speaker and has starred in several nationally aired public television specials including his most recent, “Retire Safe & Secure! with Ed Slott” (2020).

Retirement Income Center is excited to announce the introduction of Asset-Map to its retirement planning clients. Asset-Map is a tool that allows clients to see their financial situation on one page and make more-informed decisions about their financial future.

Retirement Income Visions™ is celebrating its 10-year anniversary. The blog, which promotes innovative strategies for creating and optimizing retirement income, made its debut on August 16, 2009.

Lane Martinsen’s The Holistic Retirement Planning Revolution, forward by Bob Klein, is now available on Amazon and Barnes & Noble.

Retirement Income Center’s podcast was recently named one of the eight best retirement income podcasts on PlayerFM.

Bob Klein’s article, $1 Million Today or $100,000 a Year for the Rest of Your Life?, was published in today’s MarketWatch. Assuming that you’re planning for retirement, would you rather invest $1 million today in a variable rate portfolio or do you prefer the safety and security of a known and predictable amount of lifetime income?

Bob Klein was quoted extensively in Ed McCarthy’s 01-29-16 Life Health Pro Why Branding is Too Important for Advisors to Ignore Article that was published in LifeHealthPro. Bob’s quotes are featured beginning on page 3.

Bob Klein was quoted at the end of Karen DeMasters’ 401(k) Plans Not Enough for Many Clients article that was published today in Financial Advisor.

2015 was a successful year for Bob Klein and Retirement Income Center. In addition to servicing his clientele, Bob continued to distinguish himself as a leader in the retirement income planning field through his various activities.

Bob began the year by attending the AICPA Advanced Personal Financial Planning Conference in Las Vegas in January. He also attended the 2015 Retirement Income Summit in Chicago in May.

Much of Bob’s free time in the summer was devoted to working on Retirement Income Center’s new website that was launched in September. Several changes were made to the site, including the addition of Retirement Income Visions™ which was previously a separate site, a new Multimedia page, and expansion of the Retirement Income Planning Resource Center™.

Bob was a speaker on the Retirement Income Planning Panel held at the 2015 Knowledge Summit sponsored by The American College in Honolulu in October. Bob was selected as The American College Alumnus of the Month for December.

Bob wrote 12 articles that were published in Bob’s third year as a MarketWatch RetireMentor. Several of Bob’s articles rose to the #1 Most Popular in Retirement.

In addition to his MarketWatch articles, Bob wrote and published 15 posts for Retirement Income Visions™ in 2015. The blog, which features innovative strategies for creating and optimizing retirement income, celebrated its sixth year of publication in August.

A busy writing year, Bob Klein wrote his first eBook, “6 Steps for Successful Investing” that became available on Retirement Income Center’s website in September.

Bob was quoted in several articles in 2015, including CNBC’s An Option for Those Who Fear Outliving Their Money and InvestmentNews’ New Financial Planning Software Tries to Win Market Share From Advisers in a Crowded Field. Bob was the featured adviser in LifeHealthPro’s article, Why You Should Use FIAs in Retirement Income Planning. Bob was also featured in InsuranceNewsNet’s lead article, FIA Terms Tighten Despite Strong Sales.

Bob Klein was selected as The American College Alumnus of the Month for December.

Bob was one of the first recipients of the Retirement Income Certified Professional® (RICP®) designation through The American College. Bob’s New York Life Center for Retirement Income videos are part of the college’s RICP® curriculum. Bob was also a speaker at the college’s 2015 Knowledge Summit in Hawaii on October 22nd.

Bob Klein’s article, Social Security Loophole’s Windfall Opportunity Repealed, was published in today’s MarketWatch. With the passage of the Bipartisan Budget Act of 2015, single individuals are losing the ability to use a Social Security strategy that enables them to claim a sizeable retroactive lump sum payment of benefits.

Bob Klein’s article, Take Steps to Make Your Retirement Nest Egg Tax Friendly, was published in today’s MarketWatch. If you want to extend the life of your retirement nest egg, you need to know and understand the income-tax consequences of the distributions that you will receive from the investments you make today and diversify accordingly.

Bob Klein was the featured adviser quoted extensively in Ed McCarthy’s Why You Should Use FIAs in Retirement Income Planning article that was published on October 23rd in LifeHealthPro. Bob’s quotes are featured in all five paragraphs in the Flexibility section on page 1 and the last two paragraphs in the Drawbacks section on page 2.

A new video featuring Retirement Income Center founder and president Robert Klein discussing the firm’s unique approach to retirement income planning has been added to the Our Process and Multimedia pages of the firm’s website.

Bob Klein’s eBook, “6 Steps for Successful Investing” was published and is available on Retirement Income Center’s website. Unlike many books that promote hit-or-miss piecemeal investment strategies, “6 Steps” focuses on the fact that you become a successful investor by realizing and understanding that investing is a process that needs to be customized to each person’s financial situation and financial goals at his/her particular stage in life.  Click here to download a free copy.

Bob Klein’s article, Retrofit Your Portfolio Before the Next Market Crash, was the feature article yesterday morning on MarketWatch and was the #1 most popular Retirement article all day! The article had over 15,000 views.

Bob Klein’s article, Medicare Part B Premiums Increasing Up to 30%, which was published in yesterday’s MarketWatch section of The Wall Street Journal, was featured on the front page of MarketWatch and was the #1 most popular Retirement article yesterday. The article has over 30,000 views.

(CHICAGO) Bob Klein gained advanced education on a variety of retirement income planning topics from some of the word’s foremost experts at the 2015 Retirement Income Summit held May 4 – 5 in Chicago.

The event was the ninth annual conference developed by the editors of InvestmentNews. Its goal was to provide solutions to help advisers navigate today’s market challenges.  The agenda was comprehensive, with topics including planning for healthcare, longevity insurance, retirement income tax strategies, Roth IRAs, and Social Security.  Moshe Milevsky, Ph.D., associate professor of the Schulich School of Business at York University, and executive director of the IFID Centre in Toronto, presented the well-received keynote session, “When Deferred Income (Longevity) Annuities Make Sense.”

Bob Klein’s article, How to Reduce Retirement Anxiety, was published in today’s MarketWatch section of The Wall Street Journal. A secure retirement paycheck is key to worrying less about your financial future whether you’re planning for retirement or are already retired.

2014 was an eventful year for Bob Klein and Retirement Income Center. In addition to servicing his clientele, Bob continued to distinguish himself as a leader in the retirement income planning field through his various media activities.

Bob kicked off the year on January 5th as a guest on an hour-long radio talk show, Living Your Life with Phyllis Sax Pilvinis, that aired from Phoenix.

Bob traveled to Bryn Mawr, Pennsylvania to do a series of interviews about various retirement income planning topics in an all-day studio recording session on January 8th with David Littell, the director of the Retirement Income Certified Professional® (RICP®) program at The American College.

Bob wrote 17 articles that were published in Bob’s second year as a RetireMentor for the Wall Street Journal‘s online MarketWatch. Seven of Bob’s articles rose to the #1 Most Popular in Retirement ranking. Two articles, Wealthy Paid 13% More Tax on Same Income, which had over 20,000 views, and Social Security Loophole’s Huge Windfall Opportunity, which had over 190,000 views and was quoted by Jean Chatzky, were in the top five Most Popular MarketWatch, with Bob’s “Social Security” article holding the #1 spot on July 11th.

In addition to his MarketWatch articles, Bob wrote and published 19 posts for Retirement Income Visions^TM in 2014. The blog, which features innovative strategies for creating and optimizing retirement income, celebrated its fifth year of publication in August.

Another major accomplishment was the redesign and release of Retirement Income Center‘s website which went live on June 12th. In addition to including several educational videos, the site features a Retirement Income Planning Resource Center with links to numerous planning, managing, and protection resources.

In August, Bob Klein celebrated 25 years owning and operating his own business. This includes Robert Klein, CPA, which Bob founded in 1989 and continues to operate today, as well as Financial Design Center which was superseded by Retirement Income Center, A California Registered Investment Advisor, in 1998.

Bob was interviewed for half an hour on The Financial Quarterback with Josh Jalinski radio show on WOR 710 from New York City on September 13th.

Bob traveled to Boston to attend the Winning in IRA Rollovers conference sponsored by Financial Research Associates on September 14th to 15th.

Bob’s third radio interview of 2014, with Bruce Alan of WTOP 103.5 from Washington, D.C., was recorded on October 30th and was aired on November 15th.

Finally, Bob was quoted in two Financial Advisor articles in 2014, including Karen DeMasters’ May 15th article, Over 65 Population Doubling.

Bob Klein’s article, No Bargains on Roth IRA Conversions This Friday, was published in today’s MarketWatch section of The Wall Street Journal. With the current stock market highs, those looking to do Roth IRA conversions need to be patient in order to realize potential benefits from a conversion.

Bob Klein’s interview with Bruce Alan of WTOP 103.5 FM from Washington, D.C. that was recorded on October 30th aired today. Bob discussed the use of fixed income annuities as a retirement income planning strategy with Bruce. The interview was solicited in response to Bob’s MarketWatch RetireMentors article that was published on October 28th, Don’t Let the Next Downturn Undermine Your Retirement.

Bob Klein’s article, Extend the Life of Your Children’s Inherited IRAs, was published in today’s MarketWatch section of The Wall Street Journal. An investment planning opportunity is available to address a proposal in President Obama’s 2015 budget that, if approved, would accelerate distribution of IRAs inherited by nonspouses such as children.

Bob Klein was interviewed for the last half hour of The Financial Quarterback with Josh Jalinski radio show on WOR 710 from New York City. Bob discussed his MarketWatch article that was published earlier this week, Why an Air Tight Will Can’t Protect Beneficiaries. WOR is a Clear Channel Media owned and operated station that reaches over 1 million listeners a week and is New York’s most listened to news/talk station.

Bob Klein’s article, Long-Term Care Insurance Makes a Great Birthday Gift, was published in today’s MarketWatch section of The Wall Street Journal. Given the financial, emotional, and physical toll an extended care event takes on caregivers, it behooves you to make sure that your parents have a written extended care plan, including long-term care insurance when appropriate – even if you have to pay for it.

Bob Klein celebrates 25 years owning and operating his own business. After working for national and local CPA and financial planning firms in New York, New Jersey, and California, Bob founded Robert Klein, CPA in August, 1989. Bob began the business from his home and within three months moved the firm to its present location at 5020 Campus Drive in Newport Beach. Robert Klein, CPA continues to serve the income tax and accounting needs of its individual, business, and fiduciary clients.

Bob formed a separate entity, Financial Design Center, in 1998 to offer financial planning services to his clients. The firm operated until 2011 when it was superceded by Retirement Income Center, a California Registered Investment Advisor, to emphasize Bob’s specialization and expertise in retirement income planning. Retirement Income Center’s motto, Planning, Managing, and Protecting Your Retirement Income, is supported by the dynamic, comprehensive array of services the firm provides to its clients.

Bob Klein’s article, Social Security Loophole’s Huge Windfall Opportunity, which was published on July 10th in the MarketWatch section of The Wall Street Journal and has about 190,000 views, was quoted extensively by Jean Chatzky in her This Week in Your Wallet publication that’s emailed to Jean’s subscribers. Jean is a financial journalist, author and motivational speaker with 38,000 Twitter followers. She is the financial editor for NBC’s Today Show.

Bob Klein’s article, Social Security Loophole’s Huge Windfall Opportunity, was published in today’s MarketWatch section of The Wall Street Journal. Unbeknownst to most people, a popular Social Security strategy can be used by single individuals and couples alike to create a windfall opportunity in the right situation.

Bob Klein’s article, You Need a Plan to Retire Before You Plan to Retire, was published in today’s MarketWatch section of The Wall Street Journal. You can never start planning too early for retirement. Studies show there’s a good chance that you will retire before you expect to do so.

Bob Klein was quoted in the 6th through 9th paragraphs of Karen DeMasters’ Financial Advisor article, Over 65 Population Doubling. 

Bob Klein’s article, Wealthy Paid 13% More Tax on Same Income, which was published in Friday’s MarketWatch section of The Wall Street Journal, has generated over 20,000 views to date.

The article was featured on the home page of MarketWatch most of the day on Friday. It rose to the #2 position in “Most Popular in Retirement” and was also the #5 “Most Popular” on MarketWatch.

Bob Klein’s article, Retirement: The More You Know, The More You Save, was published in today’s MarketWatch section of The Wall Street Journal. Individuals who have access to retirement income projections save more, feel better informed about retirement planning, and feel more certain about the amount of income that they can expect to receive in retirement.

Bob Klein’s article, Don’t Depend on Your Employer for Retirement, was published in today’s MarketWatch section of The Wall Street Journal. Employers are motivated by competition, not by your need to ensure adequate retirement income, when they offer 401(k) plans.

Bob Klein’s article, No Plan for Your 401(k)? You’re Not Alone, was published in today’s MarketWatch section of The Wall Street Journal. Despite the fact that a 401(k) will most likely be an employee’s largest investment asset, few have any idea what to do with it when they hit retirement.

Bob Klein’s article, Planning to Retire? Start With the Right Question, was published in today’s NextAvenue, a major PBS system website designed to reach America’s booming 50+ population as they plan for and literally define a new life stage. Bob’s article was originally published on January 22nd in the MarketWatch section of The Wall Street Journal.

(BRYN MAWR) Bob Klein was a guest expert at The American College in Bryn Mawr, Pennsylvania on Wednesday. Bob did a series of interviews in a studio recording session with the director of the the Retirement Income Certified Professional (RICP®) program at the college. Bob’s interviews will be used in the program for current and future students and will also be available for viewing on the American College’s website.

Bob received his RICP designation on July 1, 2013. The RICP® educational curricula is the most complete and comprehensive program available to professional financial advisors looking to help their clients create sustainable retirement income.

Bob Klein was quoted in the 11th paragraph of Karen DeMasters’ Financial Advisor article, Push Is On To Increase Social Security Retirement Age.  

Bob Klein was extensively quoted in Karen DeMasters’ Financial Advisor article, Advisors Neglect Written Financial Plans.  

The article follows the December 18th publication of Bob’s article, Retired? Dust Off Your Retirement Plan  in the MarketWatch section of The Wall Street Journal stressing the importance of retirees revisiting and updating their retirement plans.

Bob Klein’s article, Retired? Dust Off Your Retirement Plan was published in today’s MarketWatch section of The Wall Street Journal. Retirement planning, like all financial planning, was never meant to be a onetime exercise. Just because your plan got you to retirement doesn’t mean it will get you through retirement.

Bob Klein’s article, What’s Your $1 Million Payday Really Worth?, which was published in yesterday’s MarketWatch section of The Wall Street Journal generated over 48,000 views its first day and is currently approaching 53,000 views.

The article was featured as the MarketWatch headline article for much of the day. It quickly rose to the #1 position in “Most Popular in Retirement” where it currently remains. It was also the #4 “Most Popular” MarketWatch article for much of the day yesterday.

Bob Klein was quoted today in Quentin Fottrell’s MarketWatch article, 10 Things Billionaires Won’t Tell You .  Bob’s quote appears in item #7 – “We didn’t get rich investing in stocks.”

Bob’s articles are published in The RetireMentors section of MarketWatch on a regular basis.

Bob Klein’s article, Your Adviser’s Retirement-Income Disconnect, was published in today’s MarketWatch section of The Wall Street Journal. There has historically been a retirement-income planning disconnect in much of the investment-adviser world when it comes to how retirement planning is practiced.

Bob Klein’s article, 10 Reasons Your Retirement Plan Won’t Cut It, which was published in Monday’s MarketWatch section of The Wall Street Journal, generated over 34,000 views in its first two days and topped 35,000 this morning.

The article quickly rose to the #1 position in “Most Popular in Retirement” on Monday where it remains. It was also the #2 “Most Popular” MarketWatch article for most of the day on Tuesday. In addition, it was picked up by several online news services including Huffington Post.

Bob Klein’s article, Fixed-Index Annuities as Bonds Alternative, was published in today’s MarketWatch section of The Wall Street Journal. Fixed-index annuities retain the fixed income nature of bonds while offering protection from bond and equity market declines.

Retirement Income Visions^TM celebrated four years of publishing blog posts featuring innovative strategies for creating and optimizing retirement income. Although it changed from a weekly to a biweekly publishing schedule as a result of Bob Klein’s acceptance of a gig as a Wall Street Journal MarketWatch RetirementMentors contributor earlier in the year, Retirement Income Visions^TM continues to boast a fair number of followers.

Bob Klein’s article, Stock Market Gains Aren’t What They Seem, was published in today’s MarketWatch section of The Wall Street Journal. Recent stock market gains are impressive – until you increase the time frame. If you’re a pre-retiree, a balanced conservative approach should always be your retirement-income planning mantra.

(NEWPORT BEACH) Bob Klein has earned the Retirement Income Certified Professional® (RICP®) professional designation from The American College, Bryn Mawr, Pennsylvania.

Candidates for the RICP® designation must complete a minimum of three college-level courses and are required to pass a series of two-hour proctored exams. They must also have three years of experience, meet stringent ethics requirements, and participate in The College’s continuing education program.

The RICP® educational curricula is the most complete and comprehensive program available to professional financial advisors looking to help their clients create sustainable retirement income. The rigorous three-course credential helps advisors master retirement income planning, a key focus area not fully covered in other professional designation programs. From retirement portfolio management techniques and mitigration of plan risks to the proper use of annuities, employer-sponsored benefits and determining the best Social Security claiming age, the RICP® provides a wealth of practical information for advisors.

Using the most current techniques, RICP®s identify retirement income needs and objectives and evaluate a client’s current situation relative to those goals. Individuals who earn a RICP® can provide expert advice on a broad range of retirement topics including income needs and objectives, estate issues and other risks to retirement income planning, Social Security, health insurance and housing decisions, and income taxation.

See Bob Klein’s biography to learn more about Bob.

The American College is the nation’s largest non-profit educational institution devoted to financial services. Holding the highest level of academic accreditation, The College has served as a valued business partner to banks, brokerage firms, insurance companies and others for over 86 years. The American College’s faculty represents some of the financial services industry’s foremost thought leaders. For more information, visit TheAmericaCollege.edu.

Bob Klein’s article, Want to Retire? Stop Chasing Returns, was published in today’s MarketWatch section of The Wall Street Journal. Retirees live on income, not investment returns. Failing to transition from a
return chaser to an income accumulator risks outliving your assets.

Bob Klein’s retirement income planning expertise was featured in the Financial Advisor Magazine article, Advisor Recommends Early Planning for Medicare. Bob was quoted extensively in this article.

(CHICAGO) Bob Klein gained enhanced education on a variety of retirement income planning topics from some of the word’s foremost experts at the 2013 Retirement Income Summit held May 13 – 14 in Chicago.

The event was the seventh annual conference developed by the editors of InvestmentNews. Its goal was to provide solutions to help advisers navigate today’s market challenges.  The agenda was comprehensive, with topics including planning for healthcare, long-term care, retirement benefits, retirement income strategies, and Social Security.  Ken Dychtwald, PhD and founder of Age Wave, presented the well-received keynote session, “The New Retirement Landscape.”

Bob Klein’s article, Backdoor Roth RIA Conversion:  Tax Free?, climbed to #4 “Most Popular” in today’s MarketWatch section of The Wall Street Journal and #1 “Most Popular in Retirement,” racking up over 25,000 views in one day.

Bob Klein’s retirement income planning expertise was featured in the Financial Advisor Magazine article, Social Security is The Best “Annuity” Deal, Say Experts. Bob was quoted extensively in this article.

Bob Klein’s article, Deductible Medical Plans Make More Sense article was published in today’s MarketWatch section of The Wall Street Journal. With skyrocketing health care premiums and the increase in the medical threshold from 7.5% to 10%, HSA plans fill a niche in a retirement income plan since they offer several benefits than can enhance the longevity of a plan.

Bob Klein’s article, Women to Pay More for Long-Term Care Insurance article was published in today’s MarketWatch section of The Wall Street Journal. One of the more significant long-term care planning windows of opportunity is about to close in the next few months.

Bob Klein’s article, What’s Your Retirement Income Number?, was published in today’s MarketWatch. Instead of asking, “What’s my number?,” we should rephrase the question as, “What’s my income number?”

Bob Klein’s article, Forget-Me-Nots:  Valentines & Retirement, was published in today’s MarketWatch. This is Bob’s second article as a RetireMentors contributor.

Bob Klein was quoted extensively in the “Possible Reasons” section in Linda Koco’s GMIB Puzzle: Annuitization Rates Did Not Spike article published in today’s AnnuityNews.

Bob Klein was accepted as a RetireMentor today. The RetireMentors is a section of MarketWatch.com that is part of the online Wall Street Journal that features insight, opinion and conversation from financial-services professionals who’ve been working to steer investors toward a comfortable and secure retirement. RetireMentors showcases financial advisers, 401(k) consultants and managers, researchers and analysts, and other industry veterans with down-in-the-trenches experience in all things retirement-related.

Bob Klein was quoted at the bottom of Mary Beth Franklin’s IRS’ New Definitions of ‘Income’ a Migraine Starter Kit article in today’s InvestmentNews.