Every day, financial advisors help clients plan for their retirement. Retirement goals are discussed, financial models are run, and retirement withdrawals are optimized. However, financial preparation is only one pillar of happiness in retirement. Michael Finke, Ph.D., CFP' walks us through the latest research on retiree happiness, highlighting other areas where clients should invest to secure their future life satisfaction. Topics discussed include the impacts of relationships on retiree happiness, cognitive decline's relationship with investment performance, and the factors associated with having a higher likelihood of overspending or underspending in retirement. Throughout the presentation, Michael provides strategies that advisors can use to ensure that once they help clients prepare for retirement financially, they can also help them prepare to actually enjoy it.
Helping clients to figure out how to spend their money in retirement is a large part of advisor's work and no easy task. Clients can get confused about strategies. And strategies themselves become more and more complex given the complexity of the client (is the client a couple, high-income, business owner, have inheritance or giving goals). Yet, one unifying principle is that advisors and clients both want as much income in their hands as possible and this brings taxes and tax efficiencies front and center. Join us and learn not only about efficient strategies, but rules of thumb that can be taken back to practice and ease client-advisor conversations about planning and spending complexities in and through retirement.
Every year, countless individuals approach retirement with concerns about their financial security, seeking ways to optimize their savings and minimize potential tax burdens. As financial advisors work with clients through the intricacies of retirement planning, another significant challenge often surfaces; how to effectively manage tax liabilities through strategic Roth conversions. With evolving tax laws and market conditions, the complexity of executing Roth conversions has grown, especially for those aiming to maximize their retirement funds without unforeseen tax consequences. In this course, participants will gain practical insights into Roth Conversion strategies, learning to navigate the intricate rules that govern these conversions. The course will cover essential tactics for optimizing the timing and execution of Roth conversions, evaluating potential risks, and leveraging opportunities for tax optimization. Through practical applications and mastering these strategies, financial advisors will be better equipped to guide their clients in implementing Roth conversions that enhance their financial security in retirement.
As millions of Americans transition into retirement each year, they face a critical challenge that can make or break their financial security: determining how to efficiently withdraw from their retirement accounts. Financial advisors increasingly encounter clients grappling with complex questions about sustainable withdrawal rates, tax implications, and how to transform their accumulated assets into reliable retirement 'cash flow'. With multiple account types, varying tax treatments, and the need to balance current lifestyle spending needs against long-term sustainability, creating an effective withdrawal strategy has become more crucial and complex than ever before. In this course, advisors will master the essential components of retirement withdrawal planning. The course will explore key aspects of withdrawal sequencing, refining asset location priorities, and tax optimization techniques that significantly impact retirement outcomes. Through practical applications and comprehensive understanding of these strategies, financial advisors will better design and implement custom client withdrawal policies to align with their clients' spending goals while maximizing tax efficiency and overall wealth.
Overcoming Estate Planning Hesitancy: How Financial Advisors Can Guide Clients Toward Action
Death is an unavoidable fact of life. Planning for death, however, not so much. Despite the many benefits of estate planning, clients still avoid this task, risking additional administrative costs, increased tax liabilities, and future family disagreements about their final wishes. In this webinar, Shelitha Smodic, CFP' shares insights from the latest research on why people hesitate to plan for their estate. This session explores the psychological and practical barriers that lead to estate planning hesitancy and provides tools advisors can use to help guide clients through these challenges. Attendees will learn how factors like mortality salience, life transitions, and even travel can create windows of opportunity for engagement in estate planning. Additionally, behavioral framing techniques, conversation starters, and tools for making estate planning more approachable and relevant for clients in different phases of life will be discussed.
Paid Solicitation Under The SEC Marketing Rule and Form ADV Common Missteps And Best Practices For RIAs
This quiz will include a review of the following articles: Performance Advertising Guidelines For Investment Advisers Under the SEC's New Marketing Rule and IAR CE: Continuing Education Requirements For Investment Adviser Representatives And How Different States Adopt NASAA's Model Rule
Given frequent news headlines on the (un)sustainability of the Social Security system, many working-age financial advisory clients might harbor doubts about receiving their full (or any of their) estimated Social Security benefits. In this session, we dive deep into data from the Social Security Board Of Trustees' Annual Report to clear up common misconceptions about the actual health of the Social Security system, review a range of policy options being considered to shore up Social Security for the rest of the century, and discuss how financial advisors can analyze the impact of these policies for both working-age, near-retirement, and already-retired clients, and ways to adapt financial planning assumptions to model the scenarios, providing clients with a more accurate picture of how they might (or might not) be affected.
Preserving HSA Eligibility And Maximizing Contributions After Age 65 and Implementation Questions To Properly Prioritize And Address To-Dos For Consistent Follow-Through
Preserving HSA Eligibility And Maximizing Contributions After Age 65 and Implementation Questions To Properly Prioritize And Address To-Dos For Consistent Follow-Through
Private Debt as an Asset Class, Clients Facing Layoffs, and Sequence-of-Inflation Risk
This quiz will include a review of the following articles: Is Private Debt Worth Considering As An (Alternative) Asset Class In Client Portfolios?, Creating A (Just In Case) Game Plan For Clients Facing Layoffs and How Sequence-Of-Inflation Risk Impacts Retirees Beyond Just Sequences Of Returns