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Adaptive-Based Retirement Spending

Presented by: Jamie Hopkins, Esq., LLM, MBA, CFP®, RICP®

Join us for an enlightening webinar featuring renowned retirement income expert and IncomeLab board member, Jamie Hopkins, as he delves into the cutting-edge concept of adaptive-based retirement income planning.

In an era of evolving financial landscapes, technological enhancements, and uncertain market conditions, traditional retirement income strategies like the 4% distribution strategy may no longer suffice. In fact, most of our planning today is too binary, focused on success and failure rates that miss the whole point and behavioral aspects of generating real world retirement income for clients. Adaptability is critical in retirement income planning, allowing you to navigate the complexities of today’s financial world with confidence and resilience.

Learn how to tailor your retirement income to your client’s unique circumstances, effectively managing risks and optimizing an adaptive guardrail-based retirement income approach to deliver a more sustainable retirement income plan.

• Understand how to assess clients’ evolving financial needs and risk tolerance, enabling advisors to tailor adaptive based retirement income plans that align with individual goals and circumstances.
• Learn how to effectively incorporate dynamic asset allocation strategies within retirement income planning, enhancing the ability to adapt to changing market conditions and optimize portfolio performance.
• Gain insights into advanced withdrawal strategies, such as the Guardrail Strategy and the Spend Safely in Retirement Strategy, to provide clients with more flexible and resilient income solutions.
• Discover how to leverage technology and digital tools for real-time monitoring and adjustment of retirement income plans, ensuring ongoing alignment with clients’ evolving objectives.
• Grasp the key principles of tax-efficient retirement income planning, including strategies for minimizing tax burdens while maximizing after-tax retirement income, to provide clients with more tax-efficient retirement solutions.

Snowbirding – Living in More Than One Location in Retirement | Steve Parrish

As our clients prepare for retirement, many dream of splitting their time among residences. Because of weather, family, or wanderlust, they want to spend their retirement years in more than one locale. The challenge is making “snowbirding” a reality from a legal and financial standpoint. Clients need help in spotting the issues, budgeting for the added expense, and building snowbirding into their retirement plans. This webinar will help advisors better understand the financial challenges, the legal peculiarities, and the many solutions that are available. By knowing the questions to ask and offering ideas that work, the advisor can help clients move this retirement goal from a mere dream to a doable reality.

In “Snowbirding” by Steve Parrish, you will:

  1. Learn what drives retirees to want to live in more than one location – to “snowbird”.
  2. Gain an understanding of the financial, legal, budgeting and tax issues that can derail a client’s plans.
  3. Discover financial solutions that help finance and maintain the ownership of more than residence.
  4. Better understand how to work with retired clients who spend their time in more than one location.

Meet Steve Parrish, JD, RICP, CLU, ChFC, AEP
Retirement and Estate Planning Speaker

Steve Parrish is the Co-Director of the Center for Retirement Income at The American College of Financial Services, where he also serves as an Adjunct Professor of Advanced Planning. He was also recently an Adjunct Professor of Estate Planning and Interim Director of the Compliance and Risk Management at Drake University Law School. With over 45 years’ experience as an attorney and financial planner, Parrish frequently addresses the financial challenges of individuals, business owners and executives nationwide.

Parrish is an expert on retirement, estate, and business owner succession planning. He is a recognized industry authority, spokesperson and author serving as an ongoing contributor for both Forbes.com and Kiplinger.com.

Lifestyle Home Loan* Realtor Certification Course

Learn how you can sell more homes by offering the Lifestyle Home Loan* (LHL) to your clients 62+. Imagine showing someone how to purchase their Dream Home with as little as about 60% down and never having to pay a monthly mortgage payment!

You will learn:

  • A hidden opportunity most real estate professionals are missing and what it means to you, your clients and your business
  • How to sell more homes and dramatically increase your commissions
  • 10 things you should know about the Lifestyle Home Loan
  • Why traditional financing or paying cash may sabotage your client’s retirement
  • 16+ Frequently Asked Questions
  • How to create a competitive advantage over other real estate professionals that boomers see immediately
  • Why 52 million boomers aren’t using your services and how to change their mind

*The Lifestyle Home Loan is a Home Equity Conversion Mortgage for Purchase.

Determining Your Clients’ Retirement Income Style | Wade Pfau, Ph.D., CFA, RICP

As baby boomers reach retirement, advisors must solve new problems for clients who aim to sustain their lifestyle over an unknown horizon. Multiple retirement income strategies have emerged and it is hard for retirees to identify which strategies match their personal style.

This presentation is based on research that identifies and validates a set of scorable retirement income factors to define preferences for an overall retirement income style. It describes a workable retirement model by showing how the factors connect to four main retirement income strategies: systematic withdrawals with total return investing, risk wrap with deferred annuities (or a HECM line of credit), protected income with immediate annuities (or HECM tenure payments), and time segmentation.

Approaching retirement income agnostically and matching retirement income strategies based on an individual’s personal retirement income style may lead to improved outcomes for retirees. This presentation better brings to life the safety-first and probability-based retirement planning approaches.

Learning Objectives

  1. Identify various approaches taken for retirement income strategies.
  2. Explain underlying retirement income factors which explain retiree preferences that coalesce into a retirement income style.
  3. Link retirement income styles to existing strategic approaches for retirement income that satisfy retiree preferences.

Wade D. Pfau, Ph.D., CFA, RICP®, is the founder of RISAProfile.com and RetirementResearcher.com, and a principal at McLean Asset Management. He was the program director of the Retirement Income Certified Professional® designation and a Professor of Retirement Income at the American College of Financial Services, as well as a co-director of the college’s Center for Retirement Income.

Lifestyle Home Loan (LHL) Realtor Certification Course

Learn how you can sell more homes by offering the Lifestyle Home Loan to your clients 62+. Imagine showing someone how to purchase their Dream Home with as little as about 60% down and never having to pay a monthly mortgage payment!

You will learn:

  • A hidden opportunity most real estate professionals are missing and what it means to you, your clients and your business
  • How to sell more homes and dramatically increase your commissions
  • 10 things you should know about the Lifestyle Home Loan
  • Why traditional financing or paying cash may sabotage your client’s retirement
  • 16+ Frequently Asked Questions
  • How to create a competitive advantage over other real estate professionals that boomers see immediately
  • Why 52 million boomers aren’t using your services and how to change their mind

The New Retirement Reality | Michael Finke, Ph.D.

Wednesday, June 21, 2023 | 11:00 AM – 12:00 PM PDT

Advisors often view retirement income planning through the lens of the 4% rule but changes in longevity and a lower-return environment challenge conventional wisdom about safe withdrawal rates. This presentation will discuss what it means to take risk with an investment portfolio in retirement, how high prices for bonds and stocks will impact withdrawal rate projection, and the importance of creating a plan for funding essential expenses. The presentation will conclude with strategies to deal with a new retirement reality to maximize income from retirement wealth.

Learning Objectives Include:

  • Is the 4% rule dead?
  • Historical returns versus future returns
  • Market risk and income failure
  • Spending retirement savings
  • Retirement income from bonds

Lifestyle Home Loan Realtor Certification Course

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Determining Your Clients’ Retirement Income Style | Wade Pfau, Ph.D., CFA, RICP

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Fitting Home Equity into a Retirement Income Strategy | Presented by Wade Pfau, Ph.D., CFA

Wed, May 18, 2022 11:00 AM – 12:00 PM PDT

How can reverse mortgages be used to better secure retirement?

In the early days, reverse mortgages were generally treated as a last resort option after other resources were depleted, or as a way to obtain quick access to a large lump-sum of assets. This is not the appropriate way to think about reverse mortgages in a retirement income plan, especially in light of recent research.

The reverse mortgage option should be viewed as a method for responsible retirees to create liquidity for an otherwise illiquid asset, which in turn can create new options that potentially support a more efficient retirement income strategy (more spending and/or a greater legacy). Financial advisors must pay attention to their client’s home equity, as this is a vital asset that can be used as part of a coordinated strategy to improve retirement outcomes.

In “Fitting Home Equity into a Retirement Income Strategy” by Wade Pfau, you will learn:

1. An overview of retirement income planning, which sets the context for understanding the potential role of reverse mortgages

2. The basics for how reverse mortgages work

3. Potential uses for a reverse mortgage

4. Ways to coordinate the line of credit use with distributions from the investment portfolio

5. How to think about the reverse mortgage line of credit as a form of insurance to protect against market losses or declines in the home value.

Wade D. Pfau, Ph.D., CFA, RICP®, is the program director of the Retirement Income Certified Professional® designation and a Professor of Retirement Income at The American College of Financial Services in King of Prussia, PA, as well as a co-director of the college’s Center for Retirement Income. As well, he is a Principal and Director for McLean Asset Management and RISA, LLC. He holds a doctorate in economics from Princeton University and has published more than sixty peer-reviewed research articles in a wide variety of academic and practitioner journals.