Fast Track Retirement Planning

Course Description:

We are all (including tax practitioners) getting older, and the need for effective retirement planning has never been greater. This mini-course is essential for participants who wish to attain a comfortable retirement for themselves and their clients by maximizing tax saving strategies. Retirement income needs are analyzed; Social Security benefits are determined; and distribution options from IRAs and retirement plans are explored.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• Specify the basic guidelines of retirement planning, noting the ten misconceptions of retirement, and specify retirement based on key questions
• Determine retirement costs and income needs of clients based on their current budget, select tax savings strategies, and identify basic guidelines to use when purchasing assets to attain financial independence.
• Recall the qualifications for Social Security retirement & disability benefits, specify a client's retirement benefits, and determine the difference between Medicare  Part A and Medicare Part B.
• Identify basic types of qualified corporate plans noting their other sources of retirement income such as SIMPLE plans and individual retirement accounts.
• Determine the difference between annuity payments and lump-sum distributions, specify key components of rollovers, premature distributions & required distributions, and identify nonqualified deferred compensation.
• Cite the benefits, uses, and types of life insurance, and specify how three basic estate planning tools can be incorporated into practice.