This course provides essential insights into effective retirement planning, integrating federal taxation with strategies for determining retirement income needs, wealth building, and estate distribution. You’ll enhance your ability to analyze problems, develop solutions, and present personalized retirement plans, focusing on practical simplicity for self-employed and high-income individuals. Key topics include calculating retirement income needs, understanding net after-tax Social Security benefits, exploring IRA distribution options, and addressing the tax implications of owning a home and running a business in retirement.
Learning Objectives
• Recognize the importance of personal retirement maps to suit client objectives & lifestyles and summarize the basic guidelines of retirement planning, including common pitfalls and misconceptions of retirement.
• Determine retirement using the major levels of retirement and key questions that have financial and personal ramifications.
• Identify retirement costs and income needs of clients based on their current budget, recognize tax savings strategies and identify guidelines when purchasing investment assets.
Major Topics
• Mapping mechanics
• Common pitfalls
• Popular retirement myths
• Defining retirement
• Developing a plan
• Savings
• Assets
