Podcast appearances and mentions of william reichenstein

Welcome to the Retirement Rebootcast. That's what I'm calling this special podcast series on my new book - Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track. The book is out this month, so I invited some of my favorite experts on retirement to join me on the show to talk about some of its key ideas. I wrote Retirement Reboot with a very particular group of readers in mind: people getting close to retirement who are not financially prepared. In other words, people who have not been able to save much -or anything - for retirement. They're headed toward a retirement living only on Social Security, which typically replaces about 40% of their working income. Meanwhile, the rule of thumb is that most of us will need to replace at least 70% of our wage income when we retire.The book offers a series of strategies for improving on that math. The key chapters discuss the importance of making a plan, timing your retirement and how to get the most from Social Security and Medicare. I also discuss strategies for building savings, even late in the game, and tapping home equity. From there, I go on to discuss managing your career late in the game, the value of professional advice, how to manage long-term care risk and how to approach the idea of aging in place. For this episode, let's have a conversation about Medicare. Along with Social Security, there's nothing that will have a more important impact on your retirement security than making smart choices about navigating Medicare. And this actually is a more complicated challenge than claiming Social Security. Medicare is a great program, and most seniors love it once they enroll. But the program has evolved over the last couple decades in ways I think are unfortunate. There has been an enormous amount of needless privatization of coverage, whether that's the Part D prescription drug program, or Medicare Advantage, the commercial managed care alternative to traditional Medicare. In Retirement Reboot, I walk readers through my somewhat counterintuitive argument about the choice between traditional Medicare and Advantage. The Advantage program has been growing quickly in recent years, but I lay out reasons why you're much better off in the traditional program - assuming you can afford the somewhat higher upfront premium costs.For this episode, I invited two of the most knowledgeable Medicare experts I know to join me. Both played a critical role in helping to review and comment on the Medicare chapter of Retirement Reboot. My guests are Tricia Neuman, executive director of the Medicare program at the Kaiser Family Foundation, and Fred Riccardi, president of the Medicare Rights Center. Kaiser is one of the most important, authoritative sources of research and information on health care in the U.S. And the Medicare Rights Center is a leading advocacy and consumer assistance organization.This episode of the podcast runs a little longer than usual - around an hour. But I hope you'll stick around for the entire conversation, because Tricia and Fred offer some terrific insights. We talked about the pitfalls to avoid when you first sign up for Medicare, the key differences between traditional Medicare and Advantage, how to pick a Medigap policy, where to get expert help with Medicare choices - and a whole lot more.Click the player icon at the top of the newsletter to listen to the podcast. You can also find it on Apple Podcasts or Spotify (search for Retirement Revised).Liked the book? Do me a favor - please review it!If you've already read Retirement Reboot, please do me a small favor and review it on Amazon. You need not have purchased your copy at Amazon to leave a review there - and positive reviews are one of the most important factors driving in book sales. You can find the button to leave a review in the lower third of the Amazon page for Retirement Reboot. A new Retirement Reboot excerptMorningstar published an excerpt from the chapter of Retirement Reboot that examines strategies for optimizing Social Security. In this excerpt, I explain why Social Security benefits are so valuable, the annual cost-of-living adjustment, how benefits are calculated and how to time your claim of benefits. If you missed last week's podcast on this topic, you can find here. The episode featured a conversation with two of the country's best experts on Social Security - Mary Beth Franklin of Investment News and William Reichenstein of Social Security Solutions.What I'm writing2022 was a consequential year in Washington, D.C. for changing retirement systems in the United States. But the changes are a mixed bag—some are very good, while others nibble around the edge of root problems. And some reforms will assist only the most affluent households who need help least.What I'm readingMedicare will begin penalizing nursing homes that give residents a false label of schizophrenia, a practice that many facilities have used to skirt restrictions on antipsychotic drugs, which can be especially dangerous for older people . . . Nurses are burned out and fed up, with good reason . . . How to make a caregiving plan . . . Older And disabled Americans are languishing for years on waiting lists for home-based care. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

Welcome to the third edition of the Retirement Rebootcast! This is a special limited-edition podcast series focused on my new book - Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track. The book is out this month, so I invited some of my favorite experts on retirement to join me on the program to talk about some of its key ideas. I wrote Retirement Reboot with a very particular group of readers in mind: people getting close to retirement who are not financially prepared. In other words, people who have not been able to save much -or anything - for retirement. They're headed toward a retirement living only on Social Security, which typically replaces about 40% of their working income. Meanwhile, the rule of thumb is that most of us will need to replace at least 70% of our wage income when we retire.The book offers a series of strategies for improving on that math. The key chapters discuss the importance of making a plan, timing your retirement and how to get the most from Social Security and Medicare. I also discuss strategies for building savings, even late in the game, and tapping home equity. From there, I go on to discuss managing your career late in the game, the value of professional advice, how to manage long-term care risk and how to approach the idea of aging in place. For this third episode of the series, let's have a conversation about how to get the most from Social Security. For most of us, Social Security will be the most important retirement benefit - full stop. Decisions about when to claim can make a big difference in your lifetime income. Especially for couples, there can be some interesting choices. Making smart choices has never been more important, especially because Social Security benefits are less generous than in the past. The gradual increases in the full retirement age put in motion by the reforms of 1983 are close to being fully phased in - and that effectively raises the bar on what it takes to generate income from the program.For this episode, I invited two of the most knowledgeable people I know on the topic of Social Security claiming.Mary Beth Franklin is a contributing editor at Investment News magazine, specializing in Social Security, Medicare and Retirement income. She's been a financial journalist for more than 40 years, covering everything from federal budget and tax policies as a Capitol Hill reporter to consumer finances at Kiplinger's Personal Finance magazine. One unusual twist for Mary Beth as a journalist - in 2015, she became a Certified Financial Planner in 2015. She is the author of “Maximizing Your Social Security Retirement Benefits.” William Reichenstein is a professor of investment management at Baylor University, a co-founder of Social Security Solutions - a company that has developed a terrific set of online software tools that help individuals and financial professionals sort through claiming decisions. He is the co-author of a book titled Social Security Strategies: How to Optimize Retirement Benefits. Along with claiming strategies, I asked Mary Beth and Bill to talk about Social Security's financial challenges and public worries about the program's future. We also talked about how Social Security might change in the years ahead.Click the player icon at the top of the newsletter to listen to the podcast - or find it on Apple Podcasts or Spotify (search for “Retirement Revised”).The Retirement Rebootcast will have six episodes. Next week we'll take a deep dive into navigating Medicare. My guests will be Tricia Neuman of the Kaiser Family Foundation, and Fred Riccardi of the Medicare Rights Center. Retirement Reboot in the newsIn a new essay for Newsweek, I explain the possible cuts facing Social Security - and why we need to move in the opposite direction by expanding the program and shoring up its finances. This is adapted from the chapter of Retirement Reboot titled “Toward a New Social Insurance Era.” I also spoke with Kerry Hannon of Yahoo! Finance about the need to make Social Security bigger - not smaller - to improve retirement security.Join me for an interactive workshop on retirement planningI'll be discussing Retirement during an interactive, online workshop on January 24th. I hope you'll join me!The 90-minute workshop, hosted by Bookends University, will offer practical strategies for improving your retirement prospects, even if your savings are meager and retirement is looming! It will draw from material in Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track.We'll walk through core decisions to make now to improve retirement outcomes, including* Timing Your Retirement* Optimizing Social Security* Navigating Medicare* Tapping Home Equity* Building Savings* Financing long-term care needsTuition for the event is $45, which includes a copy of Retirement Reboot. Bookends University is sponsored by Bookends & Beginnings, my favorite independent bookstore. You can pick up your copy at the store if you're local, or have it mailed to you.  This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

Our guest on the podcast today is William Reichenstein. Dr. Reichenstein is an author and emeritus professor of finance at Baylor University. He is also head of research for Social Security Solutions and Retiree, Inc., where he and William Meyer have developed software to facilitate tax-efficient Social Security and asset-drawdown strategies for retirees. His recent books include Income Strategies and Social Security Strategies with William Meyer. A fourth edition of that book will be forthcoming soon. He has also published more than 200 articles in various financial journals. He earned his B.A. in economics from St. Edward's University and his Ph.D. from the University of Notre Dame. He is also a CFA charterholder.BackgroundBioSocial Security SolutionsIncome SolverIncome Strategies: How to Create a Tax-Efficient Withdrawal Strategy to Generate Retirement Income, by William Reichenstein Social Security Strategies: How to Optimize Retirement Benefits, by William Reichenstein and William MeyerTax-Efficient Withdrawal Strategies“Pay Attention to Marginal Tax Rates and Not Tax Brackets,” by William Reichenstein, advisorperspectives.com, Sept. 28, 2021.“Tax Considerations for Relatively Wealthy Households,” by William Reichenstein, Journal of Financial Planning, December 2021.“How Social Security Coordination Can Add Value to a Tax-Efficient Withdrawal Strategy,” by William Reichenstein and William Meyer, jor.pm-research.com, Fall 2021.“Saving in Roth Accounts and Making Roth Conversions Before Retirement in Today's Low Tax Rates,” by William Reichenstein, financialplanningassociation.org, July 2020.“Investment Implications of the Rising and Falling Pattern of Marginal Tax Rates for Retirees,” by William Reichenstein and William Meyer, jor.pm-research.com, Summer 2020.“A Comparison of the Tax Efficiency of Decumulation Strategies,” by Greg Geisler, Bill Harden, and David Hulse, financialplanningassociation.org, March 2021.“Advice for Married Couples When One Spouse Will Die Years(s) Before the Other Spouse,” by William Reichenstein and William Meyer, financialplanningassociation.org, January 2021.“Using Roth Conversions to Add Value to Higher-Income Retirees' Financial Portfolios,” by William Reichenstein and William Meyer, financialplanningassociation.org, February 2020.“The Asset-Location Decision and Related Topics,” by William Reichenstein, advisorperspectives.com, June 1, 2020.“Basic Truths About Asset Allocation: A Consensus View Among the Experts,” by William Reichenstein, aaii.com, July 2019.Social Security, Medicare, and Taxes“How to Prepare for a No-to-Low 2021 Social Security COLA,” by William Reichenstein, thestreet.com, July 27, 2020. “The Relationship Between Wealth and Delaying Social Security Benefits,” by William Reichenstein, aaii.com, June 2020.“Social Security Claiming Strategies for Singles and Their Implications for Couples,” by William Reichenstein and William Meyer, financialplanningassociation.org, May 2021.“A Top Social Security Expert Blasts Biden's Reform Plan,” by Jane Wollman Rusoff, thinkadvisor.com, June 2, 2020.“Understanding the Tax Torpedo and Its Implications for Various Retirees,” by William Reichenstein and William Meyer, financialplanningorganization.org, July 2018.“How Retirees Can Avoid the ‘Tax Torpedo',” by Mark Miller, Morningstar.com, Feb. 9, 2022.“Minimizing the Damage of the Tax Torpedo,” by William Reichenstein, financialplanningorganization.org, September 2021.“Medicare and Tax Planning for Higher-Income Households,” by William Reichenstein and William Meyer, jwm.pm-research.com, Winter 2019.“How Retirees Can Avoid Higher Medicare Premiums,” by William Reichenstein, wsj.com, June 14, 2018.Retirement Income/Other “There Is No Perfect Way to Protect Your Investments Against Inflation,” by Anne Tergesen, goodwordnews.com, Feb. 14, 2022.

On Fridays, I do a live Q&A call for patrons of the show. Today we cover: When Should My Wife Take Social Security? Should I Buy Term Life Insurance as an Investment? If you'd like to join a Q&A call, become a Patron of the show at www.radicalpersonalfinance.com/patron  Joshua Social Security Strategies: How to Optimize Retirement Benefits by William Reichenstein and William Meyer http://rpf.link/1ss19mu 

In episode #232, William Reichenstein, CFA, explains the key concepts of tax-efficient investing and how it affects an investment decision. He also suggests easy adjustments that a wealth manager can make that would have a big impact on the client.

When it comes to advance preparations for retirement, finance professor William Reichenstein says there are three simple rules to follow.

We consider how a difference in current versus future tax rates impact the decision to contribute to a tax deferred or tax exempt retirement plan.

We discuss the effect on portfolio success when comparing whether a client should draw down Social Security assets while she waits for deferred Social Security or claim Social security as soon as possible to preserve other assets. We learn that deferring Social Security can actually help to extend the portfolios longevity.

When a client has both stocks and bonds, determining the appropriate asset location is critical to maximizing the value of the portfolio. We learn principles that help the advisor choose which types of investments are best held in tax advantaged retirement plans (both tax-deferred and tax-exempt) and which are more appropriate to hold in taxable accounts.