Systems and Methods for Building Retirement Income

• US 20130138578A1
• Filed: 09/28/2012
• Published: 05/30/2013
• Est. Priority Date: 09/28/2011
• Status: Abandoned Application

• Current Assignee: 401K Coach LLC
• Original Assignee: 401K Coach LLC
• Inventors: Epstein, Charles D.
• Application Number:
  US13/631,441
• Publication Number:
  US 20130138578A1
• Time in Patent Office: Days
• US Class Current: 705/36.R
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

The present application is directed to systems and methods for building retirement income. A desirement mortgage may be determined which represents a maximum value of a user account. A supplemental funding source may be used for achieving the maximum value, and a compound interest source may also be used. Periodic inputs may be automatically inputted into the user account. A desirement date may be determined for achieving the maximum value. Periodically, a choice of account may be adjusted or changed based on achieving the maximum value at the desirement date.

Claims

1. A system for building retirement income, comprising:

a server comprising at least one central processing unit (CPU) operatively coupled to memory;

code stored by the memory causing the CPU to perform the following steps;

receive input data from a user to establish a user account;

store account data in a database;

determine a desirement mortgage representing a maximum value of the account based on the input data;

utilize a supplemental funding source for achieving the maximum value;

utilize a compound interest source for achieving the maximum value;

automatically input periodic contributions into the account for achieving the maximum value;

determine a desirement date for achieving the maximum value;

periodically adjust or change a choice of account based on achieving the maximum value at the desirement date; and

periodically adjust or change a choice of account based on minimizing a cost associated with the account choice.

2. The system of claim 1, further comprising transferring at least a portion of funds in the user account to an insured or annuity type or choice of account.

3. The system of claim 1, further comprising inputting some of the periodic contributions into an account with non-taxable gains.

4. The system of claim 1, wherein the desirement mortgage comprises fixed costs and variable costs.

5. They system of claim 4, wherein the fixed costs comprise one or more costs for housing, taxes, utilities, food, and transportation.

6. The system of claim 4, wherein the variable costs comprise one or more costs for experiences, possessions, and achievements.

7. The system of claim 1, wherein the desirement mortgage is reduced by an amount of outside income.

8. The system of claim 1, wherein the desirement mortgage represents the cost of maintaining a lifestyle for predetermined number of years.

9. The system of claim 1, wherein the desirement mortgage represents a fixed percentage of annual income.

10. The system of claim 1, wherein determining the desirement mortgage comprises accounting for inflation.

11. The system of claim 1, wherein the supplemental funding source comprises at least one of a matching employer contribution, a pension plan, or Social Security payments.

12. The system of claim 1, wherein the compound interest source is an interest-bearing savings account.

13. The system of claim 1, wherein the compound interest source is a mutual fund.

14. The system of claim 1, wherein the periodic contributions comprise an automatic payroll deduction.

15. The system of claim 14, wherein the automatic payroll deduction is pre-tax.

16. The system of claim 1, wherein the desirement date comprises a projected date of retirement.

17. The system of claim 1, wherein adjusting or changing the choice of account based on achieving the maximum value comprises reallocating funds in the user account between multiple investment vehicles.

18. The system of claim 17, wherein the investment vehicles comprise one or more of stocks, bonds, certificates of deposit, derivatives such as options and futures, annuities, mutual funds, exchange-traded funds, precious metals, currencies, real estate, and collectibles.

19. The system of claim 1, wherein adjusting or changing the choice of account based on minimizing costs comprises reallocating funds in the user account in greater proportion to passively managed funds.

20. The system of claim 1, wherein adjusting or changing the choice of account based on minimizing costs comprises reallocating funds in the user account based on annual expenses.

21. The system of claim 1, wherein adjusting or changing the choice of account based on minimizing costs comprises reallocating funds in the user account to no-load investment vehicles.

22. The system of claim 1, further comprising increasing an amount of the periodic contributions by a predetermined percentage each year.

23. The system of claim 1, further comprising periodically adjusting or changing a choice of account based on reducing risk.

24. A method for building retirement income, comprising:

receiving input data from a user to establish a user account;

determining a desirement mortgage representing a maximum value of the account based on the input data;

utilizing a supplemental funding source for achieving the maximum value;

utilizing a compound interest source for achieving the maximum value;

automatically inputting periodic contributions into the account for achieving the maximum value;

determining a desirement date for achieving the maximum value;

periodically adjusting or changing a choice of account based on achieving the maximum value at the desirement date; and

periodically adjusting or changing a choice of account based on minimizing a cost associated with the account choice.

25. The method of claim 24, further comprising transferring at least a portion of funds in the user account to an insured or annuity type or choice of account.

26. The method of claim 24, further comprising inputting some of the periodic contributions into an account with non-taxable gains.

27. The method of claim 24, wherein the desirement mortgage comprises fixed costs and variable costs.

28. They method of claim 27, wherein the fixed costs comprise one or more costs for housing, taxes, utilities, food, and transportation.

29. The method of claim 27, wherein the variable costs comprise one or more costs for experiences, possessions, and achievements.

30. The method of claim 24, wherein the desirement mortgage represents a fixed percentage of annual income.

31. The method of claim 24, wherein the supplemental funding source comprises at least one of a matching employer contribution, a pension plan, or Social Security payments.

32. The method of claim 24, wherein the compound interest source is an interest-bearing savings account.

33. The method of claim 24, wherein the compound interest source is a mutual fund.

34. The method of claim 24, wherein the desirement date comprises a projected date of retirement.

35. The method of claim 24, wherein adjusting or changing the choice of account based on achieving the maximum value comprises reallocating funds in the user account between multiple investment vehicles.

36. The method of claim 35, wherein the investment vehicles comprise one or more of stocks, bonds, certificates of deposit, derivatives such as options and futures, annuities, mutual funds, exchange-traded funds, precious metals, currencies, real estate, and collectibles.

37. The method of claim 24, wherein adjusting or changing the choice of account based on minimizing costs comprises reallocating funds in the user account based on annual expenses.

38. The method of claim 24, further comprising increasing an amount of the periodic contributions by a predetermined percentage each year.

39. A non-transitory computer readable storage medium having embodied thereon a program, the program being executed by a processor to perform a method for building retirement income, the method comprising:

receiving input data from a user to establish a user account;

determining a desirement mortgage representing a maximum value of the account based on the input data;

utilizing a supplemental funding source for achieving the maximum value;

utilizing a compound interest source for achieving the maximum value;

automatically inputting periodic contributions into the account for achieving the maximum value;

determining a desirement date for achieving the maximum value;

periodically adjusting or changing a choice of account based on achieving the maximum value at the desirement date; and

periodically adjusting or changing a choice of account based on minimizing a cost associated with the account choice.

40. The computer readable storage medium of claim 39, further comprising transferring at least a portion of funds in the user account to an insured or annuity type or choice of account.

41. The computer readable storage medium of claim 39, further comprising inputting some of the periodic contributions into an account with non-taxable gains.

42. The computer readable storage medium of claim 39, wherein the desirement mortgage comprises fixed costs and variable costs.

43. The computer readable storage medium of claim 39, wherein the desirement mortgage represents a fixed percentage of annual income.

44. The computer readable storage medium of claim 39, wherein the supplemental funding source comprises at least one of a matching employer contribution, a pension plan, or Social Security payments.

45. The computer readable storage medium of claim 39, wherein the desirement date comprises a projected date of retirement.

46. The computer readable storage medium of claim 39, further comprising increasing an amount of the periodic contributions by a predetermined percentage each year.