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DRMM
DETERMINING HOW MUCH MONEY YOU NEED TO RETIRE, AND TAX IDEAS AND MONEY MANAGEMENT IN RETIREMENT
The purpose of this course is to give CPAs the tools and knowledge required to help their clients implement tax-effective investment and portfolio strategies for successful wealth accumulation and real after-tax retirement income maintenance. The course discusses a host of specific investment tax planning and money management issues and topics, both before and after retirement, within the broader context of the fundamentals of asset allocation and portfolio management, coordinating retirement plans and taxable saving, advanced tax-adjusted time value principles, and asset risk/return and income-tax relationships.
Major Topics:
- Asset allocation, portfolio management, and investment selection concepts including portfolio rebalancing, before and after retirement, tax-saving investment transactions, and the optimal asset mix between retirement plans and taxable savings
- Historical guidelines and benchmarks for nominal and real after-tax returns (accounting for both the income and capital gains components of returns)
- Worksheets and formulas for determining how much money one needs in order to assure a financially secure retirement and the after-tax accumulations achievable for various asset categories
- Distribution and asset liquidation planning including the pros and cons of various annuity options, guidelines and 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 as after-tax accumulation vehicles versus mutual funds; Roth IRAs versus regular IRAs; and the use of life insurance in a pension maximization issue strategy
- Analyzing the impact of recent tax law
Learning 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
- Discuss the use of historical rate of return evidence as a guide to projecting successful portfolio withdrawal rates
- Explain survival probabilities as well as how first-to-die and last-to-die survival probabilities are used in retirement planning for married couples
- Discuss the pros and cons of using annuities as accumulation and payout vehicles for retirement
- Summarize the complex composite of tax, legal, and financial elements of life insurance and describe the extremely wide range of applications and uses for life insurance in retirement planning
- Explain how clients can convert the equity in a home to retirement income, while continuing to live in and enjoy the use of the home, including sale-leasebacks and reverse mortgages as well as QPRTs and split-purchases
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.
Level of Knowledge: Intermediate
Prerequisite: Basic knowledge in retirement planning
Advanced Preparation: None
CFP: Qualifies for live seminars only – not for self-study or webinars
Yellow Book: No
New: No
Field of Study: Administrative Practice (4), Taxes (4)
Live Seminar Schedule
Self-Study Pricing and Credit Information
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