Determine How Much Money You Need to Retire, & Tax Ideas and $ Mgmt

 

   

 

 
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Overview

8.0 Credits

This course gives CPAs the knowledge to help their clients implement tax-effective investment and portfolio strategies for successful wealth accumulation and real after-tax retirement income maintenance.

Objectives

  • Identify the success factors in building a retirement nest egg
  • Explain the relationship between risk and return and the investment horizon
  • Describe the tax effect of inflation, its interaction with the income tax, and the effects of taxation on investment performance
  • Explain survival possibilities and how first-to-die and last-to-die survival probabilities are used in retirement planning for married couples
  • Discuss the pros and cons of annuities as accumulation and payout vehicles for retirement
  • Describe the complex tax, legal, and financial elements of life insurance and summarize the wide range of uses for life insurance in retirement planning
  • Explain the various ways clients can convert the equity in a home to retirement income

Major Topics

  • Asset allocation, portfolio management, portfolio rebalancing, and investment selection concepts, before and after retirement, tax-saving investment transactions, and the optimal asset mix between retirement plans and taxable savings
  • Historical guidelines for nominal and real after-tax returns
  • NEW expanded section on understanding expenditure patterns in retirement and the level and risk associated with out-of-pocket medical expenses in retirement
  • Worksheets/formulas for determining how much money one needs to assure a financially secure retirement
  • Distribution/asset liquidation planning including the pros and cons of various annuity options, guidelines/strategies using the minimum required distribution rules for qualified plans and IRAs, beneficiary elections, and the use of trusts
  • Sustainable portfolio withdrawal rates during retirement for differing stock/bond/cash asset allocations, inflation rates, and tax rates both from tax deferred accounts and taxable accounts
  • Analysis of the regular IRA to Roth IRA conversion election
  • Variable annuities vs. mutual funds; Roth IRAs vs. regular IRAs; and the use of life insurance in a pension maximization strategy
  • Analyzing the impact of recent tax law, regulations, and rulings

Designed For

CPAs who wish to serve the needs of the growing segment of the public for whom effective retirement planning is critical as they reach their peak earning years and/or are approaching retirement

Prerequisite

Basic knowledge in retirement planning
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