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Description
In this session, we will explore the financial landscape for military retirees, focusing on key areas to enhance their financial well-being. You'll gain insights into how taxes impact both Enlisted and Officer retirees, helping you optimize their tax strategies. Additionally, we will review various options for managing the Thrift Savings Plan (TSP) post-military separation, ensuring informed decision-making for retirement savings. Furthermore, we'll cover essential information on Government Benefits, including Servicemembers Group Life Insurance (SGLI) and the Survivors Benefit Plan (SBP), providing a comprehensive understanding of how these benefits can support long-term financial security. This session aims to equip financial advisors with the knowledge needed to guide military retirees confidently in achieving their financial goals. make earning money as an Accredited Financial Counselor (AFC) difficult. The stars have to align just right for an open contract position or for a planning firm or employer to have an open position at your duty location.
Learning Objectives
This session addresses key CFP® Certification Learning Objectives by focusing on tax planning, retirement savings management, and government benefits for military retirees. Attendees will learn strategies for optimizing tax outcomes, managing Thrift Savings Plan (TSP) assets, and leveraging military benefits like SGLI and SBP to support long-term financial security.
E. Tax Planning
E.36. Fundamental and current tax law
Understanding how taxes impact military retirees, both enlisted and officer.
E.40. Tax reduction/management techniques
Developing strategies to minimize tax liability in retirement income planning.
F. Retirement Savings and Income Planning
F.44. Retirement needs analysis
Identifying income needs and optimizing resources for military retirees.
F.48. Qualified plan rules and options
Managing the Thrift Savings Plan (TSP) post-separation, including rollover or distribution options.
F.51. Distribution rules and taxation
Understanding the taxation of TSP withdrawals and pension benefits.
C. Risk Management and Insurance Planning
C.17. Principles of risk and insurance
Understanding key military insurance programs like Servicemembers' Group Life Insurance (SGLI) and the Survivors Benefit Plan (SBP).
C.23. Life insurance (individual and group)
Applying principles related to SGLI and evaluating survivor benefits for planning.