Description
In this 4 hour live event, we will present how to take basic client data and turn it to meaningful results by co creating a retirement plan and deliverable using goal based theory. We will use 2 case studies and model and illustrate the following topics.
a. Helping client identify goals and ranking
b. How to estimate retirement income based off of current employment income
c. How to model how retirement income such Social Security and pension impact retirement goal funding
d. How to model basic client goals such as education funding, new home purchases, or travel requests
e. Identify and categorize assets and how funding and timing will affect client goal achievement as well as tax implications of spending order
f. Risk tolerance and its' effects on the client portfolio and goal achievement
g. Client communication to get better data and identification of other assets/goals/risks that could impact the plan
h. How to deliver a plan next steps and implementation using various techniques such as reports, interactive methods or presentation creation
Learning Objectives
1. Identify and evaluate the assumptions used in analyzing retirement needs including: age at retirement, cash inflows and outflows in various stages of retirement, goal priority and importance, longevity, rate of investment return, market volatility, and effects of inflation.
2. Recognize the potential sources of income during retirement including social security, employer plan benefits, personal savings and investments, individual retirement plans and employment income.
3. Calculate an appropriate savings plan to meet funding needs and communicate the importance of having a well-funded retirement plan.
4. Assist a client in selecting the optimal date to begin receiving Social Security retirement benefits and the impact of the earnings test.
5. Describe and compare the characteristics, including risk and return, of all asset classes including cash-equivalent securities, individual bonds and stocks, real estate, other tangible assets, all pooled asset categories, and derivatives.
6. Select the appropriate use for each asset class and investment vehicle based upon its risk/return characteristics and expected cash flows.
7. Advise clients on the tax implications of holding and disposing of each security type or asset class
8. Risk tolerance and its' effects on the client portfolio and goal achievement
9. Select appropriate counseling and communication techniques for use with individual clients.