Comprehensive retirement planning using the household balance sheet
When asked to prioritize what services clients want from their advisor, “Maximizing income in retirement” and “help creating a financial plan for my retirement” ranked within the top 3 in a North American survey of advisory clients conducted in early 2020. (2020 Investor Research, Investments & Wealth Institute, April 2020).
Successful retirement income planning focuses on outcomes and process, not products. Join Devin Ekberg, Chief Learning Officer & Managing Director of Professional Development from the Investments & Wealth Institute, as he moderates a panel of three top Retirement Planning Practitioners to reveal how they approach retirement income planning using an outcomes-oriented approach, and a process-first methodology.
Practical tools, techniques, and methodologies discussed include:
- The Household Balance Sheet—Household balance sheet, financial, social and human capital, start of life-cycle plan
- Household Cash Flows—Fixed and discretionary expenses, tax-bracket planning, retirement milestones, Medicare and Long-term care, Social Security, pensions, complete life-cycle plan
- Assessing Retirement Risks—Retiree risk profiles, risk management techniques, floor allocation, probability-based and safety-first strategies
- Risk Management Allocations—Retirement allocations, withdrawal strategies, time segmentation, retirement policy statements
- Account Location/Product Selections—Product selection, account location, income annuities