Description
This course is about the distribution phase of retirement planning focusing on decisions made at the brink of retirement to make a retiree's money last a lifetime. It discusses typical client needs in retirement and a wide variety of resources: from Social Security and Medicare to IRAs and retirement plans, annuities, long-term care insurance, investment portfolios, veteran’s benefits, and more. It also discusses ethical obligations to the client in giving advice as well as recognizing and responding to diminished financial capacity of the client or senior financial abuse.
Learning Objectives
After completing this course, you will be able to:
• Discuss your responsibility to your client in advising about retirement income decisions;
• Recognize client retirement needs and risks and identify resources that are appropriate to meeting those needs and risks;
• Explain retirement benefits available from Social Security and decisions that can be made to maximize the value of Social Security for your client;
• Describe the role of employer-sponsored retirement plans and IRA, including factors for and against recommending a rollover from one to another;
• Discuss the pros and cons of annuities and life insurance in a plan for retirement income;
• Explain the need for including health costs in a retirement income plan and describe the role of Medicare and other health insurance in meeting the need;
• Discuss long-term care and the role of long-term care insurance, including partnership policies, in providing for a secure retirement;
• Describe how investment portfolio management changes as a retiree ages from just entering retirement to late retirement;
• Discuss ways that working after retirement affects the overall retirement income plan;
• Identify government benefits that may be available to clients who are military veterans; and
• Recognize special ethical issues that may apply when working with seniors, including the need to be sensitive to diminished capacity and elder financial abuse.