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William Reichenstein

author Image William Reichenstein, CFA, holds the Pat and Thomas R. Powers Chair in Investment Management at Baylor University and is head of research at Social Security Solutions, Inc .

Articles by this Author

Areas of Expertise: Social Security education and strategies, taxes

Website: SocialSecuritySolutions.com

Books:Social Security Strategies: How to Optimize Retirement Benefits” and “In the Presence of Taxes: Application of After-tax Asset Valuations

Email: bill_reichenstein@baylor.edu

William Reichenstein’s research is the foundation of the leading Social Security claiming strategy software for practitioners, SSanalyzer.com. Reichenstein is known as one of the leading authorities in Social Security education and strategies, and has published his prolific work in top academic journals. He is well known for his research that focuses on the interaction between investments and taxes, and advocates calculating an individual's aftertax asset allocation that is based on aftertax balances in each savings vehicle. He is the author of “In the Presence of Taxes: Applications of After-Tax Asset Valuations” (FPA Press, 2008), and coauthored “Integrating Investments & the Tax Code” (John Wiley & Sons, 2003) with William Jennings. He is an associate editor of the Journal of Investing and served two three-year terms as associate editor of the Financial Services Review. He is a TIAA-CREF Institute fellow, past president of the Southwestern Finance Association, and served on the Private Wealth Advisory Committee of the Institute of Chartered Financial Analysts. Additionally, he has written more than 150 articles for professional and academic journals. He is a frequent contributor to the Journal of Financial Planning, Journal of Investing, Financial Analysts Journal, Journal of Portfolio Management and Journal of Wealth Management. His book “Social Security Strategies: How to Optimize Retirement Benefits,” co-written with William Meyer, has sold over 10,000 copies.

Articles by this Author

  1. Portfolio Strategies »

    The Real-World Lessons From Investment Theory

    Modern Portfolio Theory is the accepted approach to portfolio management today, with its implications embedded in the portfolios of most major mutual fund families and the advice given by well-known investment advisers. But many investors are unfamiliar with the underlying principles. What you need to learn from investment theory, and how to apply it to your real-world investment portfolio.

    January 2006 | Journal

  2. Portfolio Strategies »

    Tax-Efficient Investing: Picking the Right Pocket for Your Assets

    If you want to keep Uncle Sam’s fingers off your assets, you need to put them into the right tax pocket. A look at the third principle of tax-efficient portfolio management: How to decide which assets should go into your tax-deferred and taxable accounts.

    November 2005 | Journal

  3. Portfolio Strategies »

    The Great Tax Fight: Managing Stocks in Taxable Accounts

    The Fight of the Century is the continuous fight investors have with Uncle Sam over their return dollars. Who's the leading challenger? The Tax-Efficient Investor. A look at how to create a tax-efficient portfolio when managing individual stocks.

    July 2005 | Journal

  4. Portfolio Strategies »

    Tax-Efficient Investing and What It Means to Your Portfolio

    Portfolio Strategies: Although tax laws constantly change, the key to tax-efficient investing is contained in a small number of provisions that are unlikely to be altered. A new way of thinking about asset allocation that considers aftertax values.

    February 2005 | Journal

  5. Portfolio Strategies »

    Insured Investment Products: The Reality Behind the Hype

    Portfolio Strategies: Insured products promise the upside of a speculative asset, while attempting to limit the downside risk. But can these products deliver--and are they useful additions to an investor's portfolio?

    November 2004 | Journal

  6. Portfolio Strategies »

    What Are You Really Getting When You Invest in a Hedge Fund?

    Portfolio Strategies: Hedge funds are touted for providing strong historical returns and being weakly correlated with the stock market. If it seems too good to be true, it probably is. What you should know about adding hedge funds to your portfolio.

    July 2004 | Journal

  7. Asset-allocation »

    Retiree Stock Allocation Recommendations: Do You Fit the "Mold"?

    How much of your portfolio should be invested in stocks if you are living off of your retirement savings? A look at where the professional advisors agree and disagree concerning the "typical" investor.

    February 2004 | Asset-allocation

  8. Portfolio Strategies »

    Retiree Stock Allocation Recommendations: Do You Fit the "Mold"?

    How much of your portfolio should be invested in stocks if you are living off of your retirement savings? A look at where the professional advisors agree and disagree concerning the "typical" investor.

    February 2004 | Journal

  9. Portfolio Strategies »

    Allocation During Retirement: Adding Annuities to the Mix

    At its most basic level, the decision to annuitize involves the trade-off between longevity risk and the bequest motive: The major advantage of annuitization is the reduction in longevity risk.

    November 2003 | Journal

  10. Portfolio Strategies »

    Retirement Planning: Annuities and When They May Make Sense

    Low-cost annuities can make sense when compared to taxable investments for bond investors and active stock investors with long investment horizons. They do not make sense for long-term buy-and-hold investors.

    July 2003 | Journal

  11. Portfolio Strategies »

    Ten Lessons You Should Learn From Recent Market History

    A review of returns from 1987 through 2002, encompassing both strong bull and fierce bear markets, shows that a fixed-weight portfolio that includes both bonds and stocks and is rebalanced annually is One Good Strategy.

    February 2003 | Journal

  12. Portfolio Strategies »

    When Should You Start Your Social Security Benefits?

    Is it worth the delay in receiving Social Security benefits to get a higher monthly payment? Strategies for maximizing the present value of expected benefits.

    November 2002 | Journal

  13. Portfolio Strategies »

    Planning for Retirement: What to Expect From Social Security

    To properly manage Social Security benefits, you need to understand their key features. And as you approach retirement, you need to have an idea of how your decisions could affect the size of future benefits.

    February 2002 | Journal

  14. Features »

    How to Benefit From Reduced Capital Gains Rates

    Tax Strategies: The Tax Relief Act of 1997 established lower capital gains tax rates for assets held for more than five years and sold sometime after 2000. Special election rules also allow individual to reset a stock's acquisition date to Jan. 2, 2001.

    November 2001 | Journal

  15. Features »

    The Investment Implications of Lower Stock Return Prospects

    Portfolio Strategies: There is a strong consensus among academics and professionals that long-run U.S. stock prospects are below average. Market multiples, which even with the market decline are well above average, suggest below-average future prospects.

    October 2001 | Journal