Social Security and Income Planning
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Treasury allows longevity annuities in retirement plans

Treasury allows longevity annuities in retirement plans | Social Security and Income Planning | Scoop.it
The Treasury Department announces a final rule that will allow retirement plan participants access to deferred-income annuities, also known as longevity insurance.
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This could be huge.

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Millennials Prefer Roth IRAs (and Boomers Should, too): T. Rowe Price

Millennials Prefer Roth IRAs (and Boomers Should, too): T. Rowe Price | Social Security and Income Planning | Scoop.it
Recent T. Rowe Price research suggests Roth IRAs could be more advantageous than traditional IRAs for most investors, even many near retirement.
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Impact has the tools to help you evaluate your clients' individual situations.  For more information, visit www.Impact-Tech.com.

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5 Things Senior Clients Wish Their Advisors Knew

5 Things Senior Clients Wish Their Advisors Knew | Social Security and Income Planning | Scoop.it
More than 200 seniors responded to a survey by LifeHealthPro about their likes, needs, financial concerns, career outlook and asset base.
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Working or want to work in the boomer market?  Important information everyone should know.   

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10 annuity strategies with high client appeal - Insurance Forums

10 annuity strategies with high client appeal - Insurance Forums | Social Security and Income Planning | Scoop.it
Michael Rice's insight:

Interesting "Talking Points" to help sell more annuities!

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Social Security File-And-Suspend Strategies For Couples And Individuals | Kitces.com

Social Security File-And-Suspend Strategies For Couples And Individuals | Kitces.com | Social Security and Income Planning | Scoop.it
As more and more baby boomers reach retirement age, planning for how to maximize Social Security benefits continues to become more popular as well. While the Social Security rules allow for a great deal of flexibility about when member or the other of a couple applies for benefits, the complexity of the various adjustments creates a great deal of confusion. An especially popular strategy for maximizing Social Security benefits is to utilize the "file-and-suspend" rules, which permits an individual to file for benefits but then suspend them immediately, allowing delayed retirement credits to be earned while simultaneously still allowing a spouse to begin to receive spousal benefits, and even family benefits for minor children as well. Yet as it turns out, the file-and-suspend strategy is not just an effective planning tool for couples and families with minor children. Because benefits that have been voluntarily suspended can be subsequently reinstated, even single individuals may wish
Michael Rice's insight:

Detailed focus on the File and Suspend strategy, which lies at the heart of our Social Security Explorer tool (www.store.planfacts.com/sse).  I like that they don't refer to the other spouse getting spousal benefits only (Restricted application) as File and Suspend, just the one actually suspending the payments.  A good read for those working in Social Security planning market.

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Target Market for Annuities Is Larger Than Most Advisors Think: Genworth

Target Market for Annuities Is Larger Than Most Advisors Think: Genworth | Social Security and Income Planning | Scoop.it
What do consumers think about annuities? Not much — leaving plenty of room for advisors to change that, according to a Genworth survey.
Michael Rice's insight:

Retirement Road Map from Impact Technologies Group can help you "change what consumers think about annuities" to the good, quickly and easily, ask me how.

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Laid-off Boomers: Retirement as Default | Squared Away Blog

Laid-off Boomers: Retirement as Default | Squared Away Blog | Social Security and Income Planning | Scoop.it
Michael Rice's insight:

Even if your clients plan to work, sometimes their employers have a different plan.  Do you factor this in to your "What-if" planning?

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Rethinking The 4 Percent Rule For Retirement

Rethinking The 4 Percent Rule For Retirement | Social Security and Income Planning | Scoop.it
Retirees have depended on the 4 percent rule to help guide their future financial planning since the mid 1990s.
Michael Rice's insight:

You guessed it, our retirement income planning software can help with this!  Are you using the 4% rule with your clients?!?

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Taking Social Security? Run the numbers first - USA TODAY

Taking Social Security? Run the numbers first - USA TODAY | Social Security and Income Planning | Scoop.it
Washington Post (blog)
Taking Social Security?
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And thus the importance of Social Security Explorer!

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Don't fear annuities - LifeHealthPro

Don't fear annuities - LifeHealthPro | Social Security and Income Planning | Scoop.it
Don't fear annuities LifeHealthPro The key takeaway from Genworth's recently released study, The Future of Retirement Income Study, can be summed up by the concept of perception versus reality: Consumers perceive annuities more positively than...
Michael Rice's insight:

And our Retirement Road Map app can be the perfect way to illustrate the strength of annuities to your clients!

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Social Security's Paltry Increase - Wall Street Journal

Social Security's Paltry Increase - Wall Street Journal | Social Security and Income Planning | Scoop.it
Wall Street Journal
Social Security's Paltry Increase
Wall Street Journal
Whatever will retirees do with the extra $19 a month the Social Security Administration sends their way starting next year? It isn't enough to pay their monthly cable bills.
Michael Rice's insight:

Love this line: "Whatever will retirees do with the extra $19 a month the Social Security Administration sends their way starting next year?"

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Getting What You Need for Retirement | Squared Away Blog

Getting What You Need for Retirement | Squared Away Blog | Social Security and Income Planning | Scoop.it
Michael Rice's insight:

Retirement Road Map, from Impact Technologies Group, will help you illustrate to clients that it is better to wait on Social Security and bridge the gap early with other assets.  I can show you how.

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Five years to retirement? Time to start planning - The Globe and Mail

Five years to retirement? Time to start planning - The Globe and Mail | Social Security and Income Planning | Scoop.it
Five years to retirement? Time to start planning The Globe and Mail “It's not necessarily the timing of your retirement that's important, it's the preparation leading up to your retirement that's most important,” says Scott Plaskett, chief...
Michael Rice's insight:

This speaks to the reason LIMRA partnered with us to develop Ready-2-Retire, check it out at www.ready-2-retire.me today.

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Social Security Benefits Evaluator - T. Rowe Price

Social Security Benefits Evaluator - T. Rowe Price | Social Security and Income Planning | Scoop.it
Michael Rice's insight:

Interesting "new" tool for maximizing Social Security from TRowePrice.

 

http://individual.troweprice.com/public/Retail/Retirement/Social-Security-Tool?van=socialsecurity

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The new Apple iOS features most relevant to advisers

The new Apple iOS features most relevant to advisers | Social Security and Income Planning | Scoop.it
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Interesting article regarding iPads and Financial Advisors.

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The hidden cost of retiring early: $51,000 in medical expenses

The hidden cost of retiring early: $51,000 in medical expenses | Social Security and Income Planning | Scoop.it
Retiring early may sound really tempting. But leaving the workforce just a few years early can saddle you with tens of thousands of dollars in additional medical costs.
Michael Rice's insight:

More reasons to talk to your clients about when is appropriate to retire!

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How divorce, remarriage impact Social Security - MarketWatch

How divorce, remarriage impact Social Security
MarketWatch
Martha Shedden, a Social Security specialist with ClientFirst Financial, said the devil is in the details when it comes to Social Security and divorce.
Michael Rice's insight:

Your client contemplating divorce?  This article discusses some good talking points.  Use this information and run it in Social Security Explorer to show them how to best plan.

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Many Years Young: Seniors struggle with Social Security adjustments

Many Years Young: Seniors struggle with Social Security adjustments | Social Security and Income Planning | Scoop.it
Seniors struggle with Social Security adjustments. (Pittsburgh Post-Gazette) The 1.5 percent Social Security increase this year followed raises of 1.7 percent in 2013 and 3.6 percent in 2012. There was no increase at all in ...
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Great article discussing the importance of measuring CPI against items Seniors buy.

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How to hedge bets when claiming Social Security

How to hedge bets when claiming Social Security | Social Security and Income Planning | Scoop.it
The file-and-suspend strategy offers an added benefit: It can serve as an insurance policy if you change your mind and decide not to delay your benefits after all.
Michael Rice's insight:

I admit, I didn't know this one either!  Great article on maximizing Social Security.

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Social Security Benefits: 1 Reason to Wait That Almost No One Knows About - Motley Fool

Social Security Benefits: 1 Reason to Wait That Almost No One Knows About - Motley Fool | Social Security and Income Planning | Scoop.it
Florida Courier Social Security Benefits: 1 Reason to Wait That Almost No One Knows About Motley Fool Social Security is essential for millions of Americans trying to make ends meet in retirement, and deciding when you start taking Social Security...
Michael Rice's insight:

Social Security Taxation is often overlooked, and can play an important role in one's retirement net income.  Another reason your clients might want/ need to consider a Roth Conversion.

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SPIAs and universal life: The perfect combo for charitable clients - LifeHealthPro

SPIAs and universal life: The perfect combo for charitable clients - LifeHealthPro | Social Security and Income Planning | Scoop.it
LifeHealthPro SPIAs and universal life: The perfect combo for charitable clients LifeHealthPro To offset this risk of loss, the annuity arbitrage strategy also involves the purchase of a guaranteed universal life insurance policy, designed to...
Michael Rice's insight:

#EstatePlanning #AdvancedMarkets  Interesting article on Estate Planning...

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Where? When? Couples facing retirement need to talk - USA TODAY

Where? When? Couples facing retirement need to talk - USA TODAY | Social Security and Income Planning | Scoop.it
Where? When? Couples facing retirement need to talk
USA TODAY
Relocation can be a contentious issue when it comes to making joint retirement plans.
Michael Rice's insight:

These folks needed to use Ready-2-Retire (www.ready-2-retire.me)!

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Your Estate Plan Ruined My Retirement - WealthManagement.com

Your Estate Plan Ruined My Retirement WealthManagement.com We would like to first apologize for such a strong title, but unfortunately, we've seen at least a dozen situations in the past year in which changes made to existing variable annuities...
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Poll: Older Americans nix Social Security changes - Boston.com

Poll: Older Americans nix Social Security changes - Boston.com | Social Security and Income Planning | Scoop.it
BankCreditNews
Poll: Older Americans nix Social Security changes
Boston.com
CHICAGO (AP) — Raise the age at which you can begin collecting full Social Security benefits? Older Americans say no.

Via Thomas Faltin
Michael Rice's insight:

Changes are coming, I just don't see them coming to the Boomers.

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More questions about Social Security benefits for spouses of different ages - InvestmentNews (blog)

More questions about Social Security benefits for spouses of different ages - InvestmentNews (blog) | Social Security and Income Planning | Scoop.it
More questions about Social Security benefits for spouses of different ages
InvestmentNews (blog)
My recent blog about coordinating Social Security benefits when one spouse is four years older than the other triggered some additional questions.
Michael Rice's insight:

Mary Beth Franklin is always right on the money!

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