Patent ID: 7647261
Filing Date: 2010-01-12
Classification: G06Q

Abstract:
1. A method for planning an income stream, the method comprising: receiving personal data relating to an individual, the personal data including a value of a projected total future income of the individual and a value of projected total future expenses of the individual; electronically calculating on a computer an estimated difference between the projected total future expenses and the projected total future income on a year-by-year basis for a defined period of time, the estimated difference being calculated before the estimated difference actually occurs, wherein the calculating comprises: outputting the sum of money to one or more annuity providers; receiving a plurality of annuity quotes from at least one of the one or more annuity providers, the plurality of annuity quotes being presented in an auction-style format; and purchasing an annuity from among the plurality of annuity quotes, the annuity providing a sum to offset the estimated difference.