Surgent's 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 will be required and strategizing about how to reach retirement goals.

Prerequisites

Basic knowledge of retirement planning

Objectives

• Help clients determine how much retirement income is necessary for the desired retirement lifestyle
• Identify resources available for retirement
• Explain how budgeting can determine retirement resources
• Understand how to build the three-legged retirement stool through 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, as well as 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 a residence and other real estate as retirement assets through equity and rent
• Using a 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: employer retirement, savings, and Social Security
• Planning with the new retirement provisions of SECURE Act 2.0
• Distribution/asset liquidation planning
• Analysis of the most current/important research on retirement planning and sustaining retirement income levels