The rules for a retiring
generation of baby boomers have changed.

 

Learn how those changes affect you as you prepare to live a prosperous
retirement.

ABOUT THE INSTRUCTOR

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Michael Snowhite, CFF®

Certified Financial Fiduciary®

 

Michael has worked in the financial and insurance services industry for more than 20 years. Michael has provided retirement assistance to over 2,000 California teachers and school administrators, in addition to providing financial education to retirees from Nestle, Boeing, Ford, General Motors, AT&T and Pacific Gas & Electric Company.

Michael is a Certified Financial Fiduciary®, Certified Retirement Financial Advisor CRFA™, Chartered Federal Employee Benefits Consultant (ChFEBC℠) and a Chartered Senior Financial Planner. Michael’s professional memberships include the Better Business Bureau, Business Consumer Alliance and the National Ethics Association.

California Insurance License #0C70345

A ONE DAY COURSE HELD AT

MOORPARK COLLEGE

No classes are scheduled at this time. 

Please call (818) 206-1163 to inquire about future classes.

COURSE OVERVIEW

RETIRING IN OUR NEW REALITY

Retirement planning in today's world is radically different from that of our parents and grandparents. We face threats to our retirement that in the past never existed. We live in a world of interest rate manipulations by central banks, currency wars, massive sovereign debt and much more. Our retirement may only be possible by learning and applying updated concepts and smarter techniques, which are outlined in this course.

THE RISK OF INCREASING TAX RATE

From an unbiased, numbers only perspective, we examine the reality of our nation's unfunded liabilities in programs such as Social Security, Medicare, Medicaid, and etc. We will examine what happens to our tax deductions in retirement and look at how that affects our cash flow. Most of us have accumulated the bulk of our assets in tax deferred accounts like a 401k and IRA. If tax rates are forced higher in the future, we will be forced to withdraw more from our account which, over time, may be detrimental to our retirement. We will look at strategies that you can use to protect your assets from the impact of potentially higher taxes.

INCOME PLANNING IN RETIREMENT

When it comes to income in retirement, how we have saved and allocated our money plays a major roll. Having your assets in the right types of accounts may contribute greatly as to how long your money lasts in retirement. How much should you have in cash reserves, should you have a Roth IRA? When do you know if a Roth conversion is a good idea and how much should you convert? This section shows you how to maximize cash flow in retirement.

MAXIMIZING SOCIAL SECURITY

Some pre-retirees are not aware that their Social Security can be taxed. In this section you will learn about the impact of Social Security taxation on your retirement. We will also look at the IRS thresholds that cause Social Security taxation. We will discuss strategies you can implement that may reduce or eliminate taxation on Social Security. Finally, we will review Social Security claiming strategies that could increase your benefit amount from Social Security.

HELPING PROTECT AGAINST MARKET LOSS

Today's investment world is very different than it was 25+ years ago. Twice in the last 18 years we have had very destructive market downturns whereby many lost 30%-50% of their account value. This section examines concepts that were once conventional wisdom that no longer hold and could be very detrimental to a successful retirement. We will look at traditional diversification as well as new areas of diversification to help mitigate loss of account values. We will discuss the concept of buy & hold and whether it works as well in today's new reality. Finally, we will look at the most important key to retirement success and how it applies in real world examples.

LONG-TERM CARE PLANNING

Paying for Long-Term Care can be devastating to a retirement plan. We will look at the traditional ways to deal with the expense of Long-Term Care as well as examine new and updated methods that for many people are infinitely more affordable. You will be able to determine what best fits your situation.

ESTATE PLANNING

Estate planning is one of the most overlooked areas in retirement planning. In this section we will learn what an estate consists of and how assets are transferred. What is probate and how could my family be impacted by it? Can probate be avoided and how? We will look at the benefits of having a will as well as having a trust. We will discuss the Revocable Living Trust, how it works and the pros and cons of having one. Finally, we will discuss what happens in the event you being incapacitated and what you could have in place to best deal with it.

RETIREMENT DISTRIBUTION PITFALLS

How much money can you safely take out of your retirement accounts without risking running out of money? Does the order in which you withdraw your various assets in retirement matter? What happens if you experience market loss while taking distributions? This section discusses all of these retirement pitfalls and outlines strategies and solutions designed to create more certainty and predictability in your retirement plan.

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