An interview with Jerry Golden, Founder of Go2Income.com.
Kiplinger’s Custom Studio: So, you have a beef with the way most retirement calculators work?
[EMBED TYPE=WIDGET ID=146]
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Jerry: Yes. What most calculators do is come up with the amount of money you need to generate a desired amount of income over a specified number of years assuming average investment returns. Look at all the uncertainty there. For one thing, studies show that individual investors underperform the market by 1% to 3% a year. For another, what if you live longer than the calculator assumes?
KCS: You have a better idea?
Jerry: I think so. First, we don’t start with a hypothetical number. Rather, using your retirement savings we determine the amount of guaranteed income you can generate each year for the rest of your life. We call this number your “Income Power.” Then we design a customized plan that reflects the tax attributes and income-generating potential of each retirement savings component. Finally, we go beyond stock and bond investments to consider all of the financial products at your disposal, including reverse mortgages (used in moderation) and income annuities.
KCS: I’m intrigued by the concept of Income Power. Tell me more.
Jerry: Income Power answers the most critical question Baby Boomers ask about retirement – do I have enough money to retire? We rephrase the question as “can you generate income each year to cover your basic living expenses for as long as you live?” To us, income means payments from Social Security, a pension, income annuity, and interest and dividends. We’re not just talking about withdrawals from your savings, which most retirement plans are based upon.
KCS: How can I get my Income Power?
Jerry: Enter your information in the tool above to get your Income Power. I also suggest you watch our video of Tom and Janet’s story on the site to learn how knowing your Income Power can be the first step to an income-smart retirement.
KCS: You mentioned income annuities a couple of times. Why are you such a fan?
Jerry: I know how powerful they can be. I trained as an actuary, hold two patents on income annuities, and built two successful businesses around these unique pension-like products. They are proven products guaranteed to provide lifetime income. And, often they are tax-advantaged. What’s not to like?
Jerry is President and CEO of Golden Retirement, LLC, the developer of Go2Income.com. He is also President of Golden Retirement Advisors, Inc., a registered investment advisor, and the 2Income Annuity Group, Inc., an insurance agency licensed for life insurance and annuities.
This content was provided by Golden Retirement. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.
-
Stock Market Today: Stocks End Higher in Whipsaw SessionThe main indexes were volatile Thursday with Nvidia earnings in focus.
-
Trump Picks Dr. Oz as Head of Medicare and MedicaidPresident-elect Donald Trump picked Dr. Mehmet Oz to lead the Centers for Medicare and Medicaid Services. Here's what to know about the former TV host.
-
457 Plan Contribution Limits for 2025Retirement plans There are higher 457 plan contribution limits for state and local government workers in 2025 than in 2024.
-
Medicare Basics: 11 Things You Need to KnowMedicare There's Medicare Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare — and much more.
-
Six of the Worst Assets to Inheritinheritance Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.
-
SEP IRA Contribution Limits for 2024 and 2025SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $69,000 in 2024 and $70,000 in 2025..
-
Roth IRA Contribution Limits for 2024 and 2025Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
-
SIMPLE IRA Contribution Limits for 2024 and 2025simple IRA The SIMPLE IRA contribution limit increased by $500 for 2025. Workers at small businesses can contribute up to $16,500 or $20,000 if 50 or over and $21,750 if 60-63.
-
457 Contribution Limits for 2024
retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
-
Roth 401(k) Contribution Limits for 2025retirement plans The Roth 401(k) contribution limit for 2024 is increasing, and workers who are 50 and older can save even more.
