HS 353 Video: Retirement Income Process, Strategies and Solutions

We examine a variety of retirement decisions facing your client. We conclude that the help of an advisor is necessary and we become aware of how different decisions interrelate.

Fri, 08 Apr 2016 14:56:06 GMT 714eaf8ed4c54147a1ec2a5b6271e

Fri, 08 Apr 2016 14:48:03 GMT 6c42a22de03943be8b99834f037fa7bc 00:14:54

We review the costs of retirement healthcare/long-term care and the traditional notion of replacement rates. We learn that in order to have a high degree of certainty that assets will last a life-time that traditional replacement rate approach substantially underestimates the required need.

In this video we talk about the skills required by a financial advisor to perform retirement income planning.

Wade Pfau’s recommended reading for those advising long-term investors is William J. Bernstein’s “Deep Risk: How History Informs Portfolio Design.”

An analysis of a calculation (risquotient) that can indicate the degree of risk a client has for running out of savings during retirement. We learn how to recognize if a clients income is in jeopardy.

How to help pre- and post-retirement clients stay relevant to the working world and resources for finding jobs later in life, with Anna Rappaport.

We discuss the economic and psychological reasons for creating an income floor in retirement.

In this video we discuss lifecycle investment theory, the theoretical underpinnings for the safety first, or flooring approach, to retirement income planning.

In this video David Nanigian points out some of the practical implications of the research on mutual funds.

Thu, 03 May 2012 14:13:15 GMT 506af0527c4348cfbb911656f

Thu, 03 May 2012 14:13:15 GMT f7d9a813947f471b9399be9e286e1be7 00:09:50

We discuss choosing appropriate investments in a portfolio with the systematic withdrawal approach. We learn that asset allocation and having a broad array of investments are both key considerations.

We look at products planners may use for systematic withdrawals. We analyze how a variety of choices fit.

We learn about how often to monitor the retirement income plan and how important this step is to the success of the plan.

Mon, 30 Apr 2012 22:03:15 GMT 6a5a7c663f2748cba037c46011366825

We examine how to build a portfolio using the bucket approach. We analyze how a variety of products fit.

We learn about clarifying what the client wants out of the relationship with the advisor when formulating an engagement to create a retirement income plan.

We learn about what data to gather and communicating with the client to ensure that all relevant information is known at this crucial stage of the retirement income planning process.

We learn that knowing the client's prioritized objectives is key to analyzing data for a retirement income plan.

We learn that communicating the retirement income plan to the client involves a lot of listening and working together.

We learn about how to successfully implement the retirement income plan.

Mon, 30 Apr 2012 22:02:46 GMT 379dd71163714b639ae9ed0a8

We discuss how a good retirement plan can fail without an understanding of what drives human behavior.

Wed, 11

We discuss various methods for calculating how much a client needs to save for retirement need and learn about choosing the appropriate tool.

We examine the research about safe harbor withdrawal rates. We learn that four percent is not the magic number!

Joe Jordan reviews some of the questions to ask clients to help them decide among their retirement income goals.

Joe Jordan discusses what clients really want from their financial advisor and begins to address some of the challenges involved in retirement income planning.

Fri, 02 Mar 2012 15:54:45 GMT

Tue, 14 Feb 2012 16:52:15 GMT dcc8e188d20542939eddd4e999fc6c3f

We review data about the impact of deferring retirement and learn that deferral has the most significant impact on the retirement readiness of lower-income workers.

We look at planning for the things that can change in retirement. We learn about the spectrum of limitations imposed on the client as they age.

We discuss how the software tool, "Ready2Retire" can help an advisor help their clients.

We discuss the concepts of subjective risk tolerance and risk capacity. We learn that one useful definition of risk tolerance is how an individual values increases in consumption in relation to reductions in consumption.

We learn why an individual who has converted a traditional IRA into a Roth IRA may want to undo that transaction (called a recharacterization). We also learn about the rules and deadlines for recharacterization as well the rules for reconverting that same IRA account into a Roth IRA a second time.

We discuss the systematic withdrawal approach, the "bucket strategy" approach, and the "essential vs. discretionary" approach to retirement income planning. We learn that the bucket strategy is a complimentary derivation of the systematic withdrawal strategy. We also learn the advantages and disadvantages of annuitizing essential expenses.