Description
"The Chartered Retirement Planning CounselorSM or CRPC® Program is designed to educate students on topics that are timely and applicable to their everyday practice of retirement planning. The program starts with a review of the retirement planning process and covers goal setting, asset allocation, risk management, and the challenge of meeting competing goals. The main focus of the program is on the years just prior to retirement and those actually spent in retirement. Discussion centers on the emotional and financial transition to retirement, Monte Carlo analysis, Social Security and other sources of retirement income, retirement distribution and investment strategies, and planning for health care in retirement."
Learning Objectives
"1. The Retirement Planning Process & Meeting Multiple Financial Objectives Discuss how the six-step financial planning process can be used as a framework to help the planner understand the client’s financial situation and expectations about retirement, develop a realistic set of goals around which a financial plan can be constructed, and implement and monitor that plan over time. 2. Sources of Retirement Income & Legal Entities Identify and describe the different sources of income that can be used to meet a client’s retirement income need including personal savings, Social Security, and post-retirement employment. 3. Employer Sponsored Plans Review the basic characteristics of employer-sponsored retirement plans including pension plans, profit sharing plans, stock bonus plans, ESOPs, Section 403(b) and 457 plans, and nonqualified deferred compensation, and discuss how each can be best be used to meet your client’s objectives. 4. Traditional, Roth and SIMPLE IRAs Identify the basic characteristics of savings vehicles including Traditional, Roth, and SIMPLE IRAs. 5. Deferred Compensation Identify the characteristics of nonqualified deferred compensation plans and analyze situations to determine whether a nonqualified plan would be appropriate. 6. Planning for Incapacity, Disability and Long Term Care Identify the legal instruments that can be used for mental and physical incapacity and the role of public and private insurance in reducing financial hardship due to incapacity. 7. When to Retire Discuss the decision about “when to retire” as it relates to an individual’s financial capabilities, IRS rules, company retirement plan rules, and changing personal preferences. 8. Retirement Plan Distributions Discuss the rules related to taking distributions from qualified retirement plans. 9. Asset Management & Investment Strategy During Retirement Review the asset management and investment strategies that a client may follow when saving for retirement, including the principles of asset allocation and portfolio management as they apply to the unique circumstances of the retired client. 10. Income Taxes & the Retiree Discuss the tax issues of particular interest to clients during retirement including recognizing income from various sources, taking capital gains on different types of assets, strategies for dealing with taxes, managing assets held in taxable and tax-deferred accounts, and understanding how mutual funds, stock and bonds are taxed. 11. An Overview of Estate Planning Review the basics of estate planning, including its objectives and the devices used to distribute property as intended by its legal owners while minimizing costs and taxes. 12.Retirement Cash Flow Considerations Review the various aspects of retirement cash flow considerations, including factors impacting the decision to retire, calculating retirement funding, and determining safe initial portfolio withdrawal rates."