Securing a Comfortable Retirement in the Age of Spending

Overview

This course gives CPAs the knowledge to help their clients plan for retirement by evaluating how much retirement income they will require and planning for how to reach their retirement goals.

Objectives

Help clients determine retirement strategies for the desired retirement lifestyle

Identify resources available for retirement

Explain how budgeting can identify retirement resources

Understand how to build the three-legged retirement stool: employer retirement, savings, and Social Security

Understand the need for Plan B when the ideal retirement goal is not achievable

Explain ways that clients can convert the equity in a home to retirement income

Explain how the value of a small business can be converted to retirement income

Explain survival possibilities and how first-to-die and last-to-die survival probabilities are used in retirement planning for married couples

Understand timing regarding the use of taxable retirement funds and nontaxable funds, and strategies to minimize income tax on Social Security

Recognize the role of various investment types, such as life insurance, annuities, mutual funds, equity holdings, and bonds in retirement planning

Summarize key points of recent research on the sustainability of retirement income and maintenance of desired retirement lifestyles

Highlights

Retirement planning using variables such as desired lifestyle, travel plans, housing plans, medical needs and family needs to customize a retirement plan unique to the client

Using the residence and other real estate as retirement assets through equity and rent

Using the small business as a retirement resource through creative retirement plans

Overview of asset allocation, portfolio management, portfolio rebalancing, and investment selection concepts, before and after retirement

The three-legged retirement stool of employer retirement, savings, and Social Security

Distribution/asset liquidation planning

Analysis of the most current/important research on retirement planning and sustaining retirement income levels

Designed For

CPAs looking to advise clients on retirement planning, and CPAs looking for effective strategies for their own retirement

Prerequisites

Basic knowledge of retirement planning

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy. https://www.ctcpas.org/events/cpe-policies

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Kevin Miller, Surgent McCoy CPE, LLC

Leader Bios

Kevin Miller, Surgent McCoy CPE, LLC

Kevin is a graduate of Western Michigan University in Kalamazoo, Michigan, where he studied Accounting and Finance. Kevin joined TruNorth Capital in 2019 with approximately 15 years of industry experience. He is a licensed Certified Public Accountant (CPA) in the state of Michigan. He carries the Certified Financial Planner™ designation (CFP®). Professionals carrying the CFP® designation have completed extensive training and experience requirements and are held to rigorous ethical standards. Kevin also carries the Certified Private Wealth Advisor® designation, which expands on the complexities many families face when creating their financial goals.

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