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.
- 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, non-qualified deferred compensation, and converting the value of the business through sales within the family or to an outside party
- An overview of portfolio management for retirees, including: sustainable portfolio withdrawal rates; balancing investments between income and equity, and taxable and nontaxable; and asset liquidation and distribution timing to minimize the tax impact of retirement distributions and maximize cash flow from retirement vehicles and Social Security
- Developing a three-legged retirement stool of employer retirement, savings, and Social Security, and timing the use of the legs of the stool to maximize after tax retirement benefits
- Analysis of the most current/important research on retirement planning and sustaining retirement income levels and lifestyles and the impact of the most recent tax laws, regulations, and rulings
Basic knowledge of retirement planning
CPAs looking to advise clients on retirement planning, and CPAs looking for effective strategies for their own retirement
- Help clients determine how much retirement income is necessary for the desired retirement lifestyle
- Identify resources available for retirement
- Understand how to build the three-legged retirement stool: employer retirement, savings, and Social Security
- Develop 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
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John Kilroy is a managing member of iValue Financial Planning LLC, located in the Philadelphia, Pennsylvania area. John engages clients in financial and tax planning, as well as preparing tax returns for individuals, corporations, partnerships, estates, and trusts. John is a CPA and a CFP® practitioner. He is a 1979 graduate of Villanova University with a BS in Accounting. John is a member of the Pennsylvania Institute of Certified Public Accountants and the Financial Planning Association (FPA). Within the FPA, John has served as a board member of the Philadelphia Tri-State chapter and on its education and finance committees. John is an adjunct faculty member for the Temple University Certificate of Financial Planning Program. He is a frequent speaker and facilitator on tax and financial planning topics. John has been quoted in the Wall Street Journal, MarketWatch.com, and USATODAY.com. He has written for the Journal of Financial Planning, and is a contributor to Retirement Weekly. John has also discussed financial and tax planning issues on various radio outlets.
Non-Member Price $205.00
Member Price $140.00