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Acknowledgments ix <p>About the Contributors xi</p> <p>Foreword by <i>Walter Updegrave</i> xxiii</p> <p><b>PART ONE: FACING THE NEW REALITIES 1</b></p> <p>1 Boomers: A Force for Change 5<br /> <i>Deena B. Katz</i></p> <p>2 Maslow Meets Retirement 17<br /> <i>Mitch Anthony and Lewis J . Walker</i></p> <p>3 Decision Making at Retirement: High Stakes for the Long Haul 33<br /> <i>Donald G. MacGregor</i></p> <p>4 Reinventing Retirement 49<br /> <i>Mitch Anthony</i></p> <p><b>PART TWO: ASSESSING THE RISKS 65</b></p> <p>5 Psychological Impediments to Retirement-Income Planning 69<br /> <i>Mathew Greenwald</i></p> <p>6 Lifelong Retirement Income: How to Quantify and Eliminate Luck 77<br /> <i>Jim C. Otar</i></p> <p>7 Balancing Mortality and Modeling Risk 97<br /> <i>Cynthia Saltzman</i></p> <p>8 Monte Carlo Mania 117<br /> <i>Robert D. Curtis</i></p> <p>9 Understanding Required Minimum Distributions 141<br /> <i>April K. Caudill</i></p> <p><b>PART THREE: SHAPING THE SOLUTIONS 157</b></p> <p>10 Risk Management During Retirement 163<br /> <i>Moshe A. Milevsky With Anna Abaimova</i></p> <p>11 Withdrawal Strategies: A Cash Flow Solution 185<br /> <i>Harold Evensky</i></p> <p>12 Asset Allocation: The Long View 203<br /> <i>Laurence Booth</i></p> <p>13 Sustainable Withdrawals 217<br /> <i>William P. Bengen</i></p> <p>14 Tools and Pools: Strategies for Increasing Retirement Cash Flow 237<br /> <i>Robert P. Kreitler</i></p> <p>15 Creating Portfolios With Lower Volatility 255<br /> <i>Louis P. Stanasolovich</i></p> <p>16 Reverse Mortgages in Distribution Planning 281<br /> <i>Roxanne Alexander and Michael J. Anderson</i></p> <p>17 Life Insurance Benefits—No Waiting 305<br /> <i>Douglas Head</i></p> <p>18 Longevity Risk Insurance 311<br /> <i>Roger G. Ibbotson, Michael C. Henkel, and Peng Chen</i></p> <p>19 Immediate Annuities: Structure, Mechanics, and Value 323<br /> <i>R. H. "Rick" Carey and Jeffrey K. Dellinger</i></p> <p>20 The Search for Software 343<br /> <i>Joel P. Bruckenstein</i></p> <p>Continuing Education Exam 353</p> <p>Index 361</p>

<b>Harold Evensky</b> is chairman of Evensky & Katz, a financial-advisory firm in Coral Gables, Florida. <p><b>Deena B. Katz</b> 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.<br /> Evensky and Katz are the editors of <i>The Investment Think Tank: Theory, Strategy, and Practice for Advisers</i> Evensky is the author of <i>Wealth Management: The Financial Advisor's Guide to Investing and Managing Client Assets</i>; Katz is the author of <i>Deena Katz on Practice Management</i> and <i>Deena Katz's Tools and Templates for Your Practice.</i> 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.</p>

"Expert advice for retirement planning is essential but too often flaky. Nothing in this book is flaky. The expert authors are sophisticated and knowledgeable. Their presentations are rock-solid, comprehensive, and clear. They cover every important aspect of the retirement problem. Any adviser or client who reads this book will be deeply grateful to Harold Evensky and Deena Katz for putting it together."<br /> <b>—Peter L. Bernstein</b>; Author, <i>Against the Gods: The Remarkable Story of Risk</i> <p>"Once again, Harold and Deena have succeeded in putting together an A-team of financial experts. The end goal for this team is to help other financial professionals do the best possible job that they can as they guide their clients in their retirement years. This book is a must-have for anyone advising clients through retirement."<br /> <b>—J. Thomas Bradley, Jr.</b>, President, TD AMERITRADE Institutional</p> <p>"Advisers have an unprecedented opportunity to work with a generation that has shaped history and will reshape the future of retirement planning. <i>Retirement Income Redesigned</i> provides advisers with a valuable tool for understanding and addressing the unique needs of retiring baby boomers."<br /> <b>—John Iachello<br /> </b>Managing Director, Pershing Advisor Solutions, A service of Pershing LLC, a member of BNY Securities Group and a subsidiary of The Bank of New York Company, Inc.</p> <p>"With 80 million baby boomers entering retirement over the coming decades, <i>Retirement Income Redesigned</i> is a must-read for financial advisers who are determined to grow their business and add value for clients. The book provides a valuable mix of conceptual planning principles, product guidance, and tangible planning 'how tos' to help advisers meet the needs of their in-and-near-retirement clients. It's a wonderful tool for gaining insights and ideas to maximize your firm's potential in attracting this valuable segment."<br /> <b>—Deborah McWhinney</b>, President, Schwab Institutional</p>

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