Securing a Comfortable Retirement

Overview

This course gives CPAs the knowledge to help their clients plan for retirement by evaluating how much retirement income will be required and strategizing about how to reach retirement goals.

Learning Objectives:

• 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 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.