FOUNDATIONS OF RETIREMENT PLANNING

Course Description

This course provides a fundamental working knowledge of the principles of developing a durable retirement income for those facing or already in retirement. The materials cover varied aspects of retirement income planning, such as longer life income challenges, excess taxation, inflation, healthcare expenses, aspects of making a financial decision, six areas where income is derived for retirement, and income goal setting, while highlighting the ABC Planning Model. Students will increase their awareness of the challenge and opportunities to develop durable retirement income to enhance their lifestyle. This course also covers general topics and is not designed to give specific solutions to individual needs. This is not a financial seminar; this is a financial course of study where you will leave with the knowledge and confidence to make financial decisions suited to the goals and objectives you establish.

Course Objectives

The objectives of this course are to provide you with the tools, insight, and proven strategies that will allow you to build a retirement plan that you are confident will achieve the goals you set for your retirement. This course will teach you easy-to-understand strategies on how to save money on taxes, conserve retirement assets and create an income stream for the retirement that you want. By the end of this course, you should be able to:

 Understand the risk associated with developing retirement income
 Understand the principals for maximizing your Social Security benefits
 Strategically allocate your assets in a conservative manner
 Develop an income plan for your retirement
 Develop your own financial profile
 Know the eight greatest challenges to maintaining your lifestyle in retirement
 Determine your own personal income plan
 Develop your own retirement budget

Your Reading Material

The course is based on the workbook “Foundations of Retirement Planning,” by author and financial planner David P. Vick.  A companion book for retirees by Mr. Vick is “Bat-Socks, Vegas and Conservative Investing” which highlights the ABC Planning Model. Both will be provided for you.  Plus you will receive the ABC Concepts DVD.

Course Participation

If you are looking for answers to what happens to the challenges of taxation, inflation, long life spans, and healthcare costs as it impacts retirement income or if you are concerned about how your IRA, 401(k), 403(b) or other retirement accounts ability to fund retirement or maybe just want to be more confident in your current plan you will believe this course is time and money well spent.

Course Outline

Below is an outline of the content of each section of the course.

Section One: Introduction

Changing Landscapes – Planning for 30 to 40 years of income is a challenge for those facing or already in retirement due to the constant changes in the tax code, healthcare system, inflation and lifestyles.

Section Two: Eight Challenges to Retirement Income

The challenges to creating retirement income are many and varied. We’ll take a look at eight of the most significant hurdles to establishing durable retirement income:

 Life Expectancy
 Inadequate Savings
 Inflation
 Taxation
 Market Uncertainty
 Health Care Costs
 Unrealistic Expectations
 Poor Decision Making

Section Three: Four Main Goals

When establishing durable income for retirement, there are four main objectives the course dives into:

 Conserve Your Assets
 Generate Your Income
 Guard Against Inflation
 Limit Taxation

Section Four: Six Pillars of Retirement Income

Many books and advisors talk about only three legs to a retirement income stool. This course dives deeper into the six areas of finance that retirees draw income and discusses the pros and cons of each one:

 Personal Retirement Accounts
 Defined Benefit Plans: Corporate Pensions
 Defined Benefit Plans: Personal Pensions
 After-Tax Retirement Accounts
 Tax Free Accounts
 Social Security

Section Five: Six Tips for a Financially Successful Retirement

The course discusses six areas of finance in retirement, that if thought through carefully, can make a dramatic difference in creating more spendable income, while avoiding some common mistakes:

 Create a retirement budget
 Compare insurance alternatives
 Learn how you make financial decisions
 Know your costs (in investments)
 Know your risks (in investments)
 Strategically allocate, tactically manage

Section Six: Worksheets

The worksheets are designed to assist the retiree with sound budgeting, review of their assets and income plan, determine the possibility of taxation on social security benefits, help understand their risk tolerance.
Retirement Budget Worksheet
ABC Profile Review & Income Worksheet
Social Security Taxation
Risk Tolerance Questionnaire

Course Instructors

Course Instructors come from the financial services industry. They bring many years of experience to the classroom and enhance the course with “Real World” examples of many of the principles being taught. This course is interactive and your participation is encouraged, but not required.

Communication with Instructor

The instructor is open for questions and inquiries about the material covered by the course and may be reached by telephone or email.