FOUNDATIONS OF RETIREMENT PLANNING
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.
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.
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.
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:
Health Care Costs
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
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
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 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.