Retirement Income Redesigned

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Title: Retirement Income Redesigned: Master Plans for Distribution
Author: Harold Evensky and Deena Katz (editors)
Publisher: Bloomberg Press
Publication date: Hardcover: April 2006
Pages: 370 pp (Hardcover)
ISBN: 978-1576601891 (Hardcover)


Retirement Income Redesigned (full title: Retirement Income Redesigned: Master Plans for Distribution) is a collection of articles all of which deal in one way or another with the income (decumulation) phase of retirement. Evensky and Katz as editors have tapped the talents of a range of experts, allowing them to present their latest thinking on a wide range of 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

The target audience for this book is financial planning professionals. Therefore the articles give in-depth treatments of the material being covered. This is not a collection of introductory articles!

About the editors

Harold Evensky, CFP®, AIF®, is President of Evensky & Katz, a financial-advisory firm in Coral Gables, Florida. He is the past Chair of the International CFP® Council, the CFP® Board of Governors, the Board of Examiners and the Board of Appeals.

Deena B. Katz, CFP®, is Chairman of Evensky & Katz, as well as an Associate Professor in the Personal Financial Planning Division at Texas Tech University.

Evensky and Katz are the editors of The Investment Think Tank: Theory, Strategy, and Practice for Advisers. Harold Evensky is the author of Wealth Management: The Financial Advisor's Guide to Investing and Managing Client Assets. Deena 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

PART ONE: FACING THE NEW REALITIES

Chapter 1. Boomers: A Force for Change (Deena Katz)
Chapter 2. Maslow Meets Retirement (Mitch Anthony & Lewis Walker)
Chapter 3. Decision Making at Retirement: High Stakes for the Long Haul (Donald MacGregor)
Chapter 4. Reinventing Retirement (Mitch Anthony)

PART TWO: ASSESSING THE RISKS

Chapter 5. Psychological Impediments to Retirement-Income Planning (Mathew Greenwald)
Chapter 6. Lifelong Retirement Income: How to Quantify and Eliminate Luck (Jim Otar)
Chapter 7. Balancing Mortality and Modeling Risk (Cynthia Saltzman)
Chapter 8. Monte Carlo Mania ((Robert Curtis)
Chapter 9. Understanding Required Minimum Distributions (April Caudill)


PART THREE: SHAPING THE SOLUTIONS

Chapter 10. Risk Management During Retirement (Moshe Milevsky & Anna Abaimova)
Chapter 11. Withdrawal Strategies: A Cash Flow Solution (Harold Evensky)
Chapter 12. Asset Allocation: The Long View (Laurence Booth)
Chapter 13. Sustainable Withdrawals (William Bengen)
Chapter 14. Tools and Pools: Strategies for Increasing Retirement Cash Flow (Robert Kreitler)
Chapter 15. Creating Portfolios With Lower Volatility (Louis Stanasolovich)
Chapter 16. Reverse Mortgages in Distribution Planning (Roxanne Alexander & Michale Anderson)
Chapter 17. Life Insurance Benefits – No Waiting (Douglas Head)
Chapter 18. Longevity Risk Insurance (Roger Ibbotson, Michael Henkel & Peng Chen)
Chapter 19. Immediate Annuities: Structure, Mechanics, and Value (R.H. Carey & Jeffrey Dellinger)
Chapter 20. The Search for Software (Joel Bruckenstein)

Reader comments

For the reader looking to deepen their thinking about retirement income planning, this book will be an absolute delight. Some of the article authors (e.g. William Bengen and Jim Otar) will be familiar to regular readers of the Bogleheads® Forum. Other authors may not be as well known to Bogleheads®, but are none the less experts in their respective fields. This book gave me my first exposure to Prof. Moshe Milevsky, which was so enlightening that I proceeded to search out (devour!) a wide range of his other articles and books. If you take the time to read this book, I’m sure that you too will discover new authors whose writings will enrich your understanding of retirement planning. ThePrune.

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