Social Security and Bridging to Retirement Planning, You've Only Just Begun (Currently Unavailable)

Author: Martha B Shedden, Frank Horath

Your clients may be aware of the effect of an educated, well-timed Social Security income election decision however, that decision is just the foundation of a well-designed retirement plan.

Coupled with goal-setting strategies, early planning of retirement asset fund allocations, well-planned distribution and drawdown strategies, and a detailed understanding of Social Security income taxation, you will have the ability to boost your clients’ retirement income and increase the longevity of their portfolios.

This course will provide you with the details and strategies needed to understand the interplay between Social Security, other income, and the withdrawal sequence from retirement accounts.

Taxation of Social Security income, in particular, plays a large part in the final net funds available to retirees, especially as they reach age 70 ½ and have Required Minimum Distributions from IRA accounts.

Publication Date: June 2016

Designed For
Practitioners who have a detailed familiarity with Social Security rules and strategies and wish to incorporate this knowledge into retirement financial plans.

Topics Covered

• The 3 phases of retirement
• Goal-setting for the Golden Years
• Social Security income planning — it's just the foundation
• The value of early planning of retirement fund allocations, qualified vs. non-qualified accounts
• How Social Security income taxation is determined
• What to consider when structuring the sequential withdrawal of assets in retirement
• How Social Security income taxation management can increase retirement standard of living
• How to determine if and what other financial products, such as annuities and life insurance, are needed
• Software for retirement planning and goal setting
• Resources, further education

Learning Objectives

• Describe the 3 phases of retirement
• Identify the information needed to set goals for a retirement financial plan
• Define Combined (Provisional) Income
• Explain why Social Security income planning is the "foundation" of a retirement plan
• Recall the two different combined income thresholds for single and married and the portion of Social Security income that may then be subject to taxation
• Differentiate between a qualified and a non-qualified retirement account
• Evaluate the more advantageous tax situation given two sample cases
• Determine which type of software would be most useful in a given situation
• Calculate the tax on Social Security income and the total amount of tax for a given case example
• Summarize the key components of a solid financial retirement plan

Level
Advanced

Instructional Method
Self-Study

NASBA Field of Study
Specialized Knowledge (2 hours)

Program Prerequisites
Highly recommended that registrants have taken both basic and advanced level Social Security income planning courses. It is meant for participants who have a detailed familiarity with Social Security rules and strategies and wish to incorporate this knowledge into retirement financial plans for clients in order to increase their retirement income and portfolio longevity.

Advance Preparation
None