Tax Efficient Retirement Income Planning
This course marries tax and financial planning competencies in order to help clients adequately fund tax-efficient income requirements by accumulating, growing, preserving and transitioning wealth through three phases of retirement—pre-retirement, in-retirement and post-retirement.
This course allows advisors to develop a consistent process for multi-generational planning that looks at tax efficiency of both income and capital left for spouses and heirs, using cutting edge tools to predict how sustainable savings will be and what can be done through income averaging, income splitting and tax deferral.
The leading-edge program is designed to provide structure and process for advisors interested in specializing in tax-efficient retirement income planning. This is a skillset in great demand by the baby boomer demographic—the most affluent generation in our history—who seek credible, expert solutions to their complex retirement planning requirements, and view tax erosion as the biggest threat to their wealth. In fact, with recent tax changes that introduce a high-income tax bracket, this is true.
What You'll Learn
This course covers a holistic retirement income planning process. You will acquire the knowledge to do a proper assessment of client vision and goals for retirement and engage them in a consistent process for addressing the three trigger questions that cause financial decision-making—life, financial, and economic events.
You'll establish a strategic “real wealth management plan” based on client needs for tax efficient income as well as after-tax capital preservation, growth and transition. You'll plan a 20-year retirement income strategy that minimizes capital encroachment in order to preserve as much savings as possible for uncertain futures, but in addition, averages down taxes on many layers of income sources that will be earned by a couple in retirement.
Through a variety of Advisor Think Tanks and case studies, you will demonstrate the customization of a retirement income plan and responses to specific questions pre-retirees have, like do I have enough?; when should I take my CPP pension benefit?; and what should I do with my severance package?
Methodology: Tax-Efficient Retirement Income Planning
First Steps: Helping Clients Envision the Plan
Tax Changes Relating to Retirees
Managing Government Income Sources
Managing Canada Pension Plan
Planning with Tax-Assisted, Self-Funded Sources
Foreign Pensions and Non-Registered Accounts
Tax-Efficient Retirement Income Planning for Employees Part 1
Tax-Efficient Retirement Income Planning for Employees Part 2
Planning for Post-Retirement and Survivors
Personal course selection consultation
Virtual campus orientation
Lesson and study plans
Personal instructor email support
Comprehensive Knowledge Journal
EverGreen Online Research Library
Knowledge Bureau calculators
Testing and certification
Work towards the MFA™ Designation
The Tax Efficient Retirement Income Planning is 1 of 6 courses needed for the MFA (Retirement & Succession Services Specialist Designation)
- Personal Pension Planning For Corporate Owner-Managers
- Investment Tax Strategies
- Tax Efficient Retirement Income Planning