Retirement Planning Study Guide

Learning Objectives After completing the activities in this Study Guide, you will be able to: • Explain client motivations for retirement planning; • Describe the four stages of retirement planning (accumulation, transition, decumulation, and transfer); • Calculate a client’s Retirement Income Gap; • Recognize the value of relating financial goals for retirement to lifestyle goals; • Discuss features and benefits of retirement planning vehicles available to fund the gap: ? Government-provided programs; ? Employer-sponsored plans; and ? Private savings and investments. • Discuss special considerations for business owners; • Discuss financial and personal considerations involved in helping clients transition to retirement; • Explain the process for distributing assets during retirement; • Explain tax, investment, and other considerations relative to distributions from individual and employer-sponsored plans, and government-provided programs during retirement; and • Discuss tax and other issues associated with the transfer of retirement assets at death.