This course gives CPAs the knowledge to help their clients plan for retirement by evaluating how much retirement income will be required and strategizing about how to reach retirement goals.
Objectives:
Help clients determine how much retirement income is necessary for the desired retirement lifestyle
Identify resources available for retirement
Understand how to build the three-legged retirement stool: employer retirement, savings, and Social Security
Develop Plan B when the ideal retirement goal is not achievable
Explain ways that clients can convert the equity in a home to retirement income
Explain how the value of a small business can be converted to retirement income
Explain survival possibilities and how first-to-die and last-to-die survival probabilities are used in retirement planning for married couples
Understand timing regarding the use of taxable retirement funds and nontaxable funds, and strategies to minimize income tax on Social Security
Recognize the role of various investment types, such as mutual funds, equity holdings, and bonds in retirement planning
Summarize key points of recent research on the sustainability of retirement income and maintenance of desired retirement lifestyles
Required Knowledge:
Basic knowledge of retirement planning
Who Should Attend:
CPAs looking to advise clients on retirement planning, and CPAs looking for effective strategies for their own retirement
Qualifies for Yellowbook: No.
Qualifies for Enrolled Agent: Yes
Field of Study: Specialized Knowledge and Applications (2.00), Taxes (2.00)
CPE: 4.00