NAIFA Live! Cracking the Retirement Income Code

Cracking the Retirement Income Code

Thursday, July 18, 2019

8:45 – 9:15 a.m.: Tech Check in from Watch Party Sites

9:15 a.m.: Live Broadcast and CE Review

9:20-10:10 a.m.: Curtis Cloke presentation part I

10:10-10:20

a.m.: Break

10:20-11:10 a.m.: Curtis Cloke presentation part II

11:10-11:30: Q&A and Discussion at Watch Party Sites

By: Curtis Cloke
2 CECs

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AGENDA

Introduction to Course

(5 mins.) A. Goals

1. New ways to secure retirement income in retirement
2. Client Education – outline retirement fears and risks
3. Product Allocation to income allocation before asset allocation
4. Discuss three basic retirement income methods
5. Discovery of the Household Balance Sheet
6. Framing comparable solutions

 

Key Elements of the Process

(15 mins.)  A. Know Your Client – Getting to the Heart of the Matter

1. Where are you from, and what was it like growing up
2. What did you learn about money growing up
3. What is the hardest lesson you’ve had regarding money?
4. What is the best experience you’ve had regarding money?
5. What would you do with your time if no one paid you?
6. Questions

 

Foundational Realities, Fears and Risks

(10 mins.) A. Math and Science: Nominal vs. Real Returns

1. U.S. expenditures for major entitlements since 1971
2. Baseline projections for 2014-2024
3. Real Real Returns
4. DALBAR Study 2015

 

Five Fears of Retirees

(5 mins.)  A. Outliving your money

1. Control of your money
2. Inflation
3. Legacy
4. Investment mistake

 

Five Financial Risks – Taking

(15 mins.) A. Longevity Risk

1. Health care risks and medical inflation
2. Inflation
3. Sequence of Returns Risk
4. Market Volatility

 

(10 mins.)        Break

 

Taking Other Key Risks Off the Table

(10 mins.)   B. Stages of Life and Risk

1. The retirement red zone – 10 years before and after retirement
2. Traditional investment mix
3. Guaranteed life protection
4. Aligning risks with product allocation
5. Annuities
6. Cash/bonds/alternatives
7. Equities
8. Insurance – life, LTC and liability

 

Guaranteed Lifetime Income Products

(15 mins.)  A. Guaranteed Lifetime Withdrawal Benefit Rider (GLWB)

1. Single Premium Immediate Annuity (SPIA)
2. Deferred Income Annuity
3. Comparison GLWB/DIA
4. Income Annuity Benefits
5. Additional security during retirement
6. Dependable and predictable income
7. Protection against inflation
8. Portfolio diversification

 

Three Retirement Income Strategies

(10 mins.)    A. Systematic Withdrawal Income Plan (SWIP)

1. Buckets/Laddered/Progressive Time Segments of Money
2. Retirement Income Floor/Guaranteed Income Solutions

 

Retirement Strategy

(10 mins.)  A. Making the Impossible Possible

1. Buy Income and Invest the Rest
2. Maximize tax efficiency
3. Bracket-bump Roth conversions
4. Social Security optimization
5. Minimize fee-drag
6. Inflation-adjusted lifetime income
7. Divide and Conquer
8. Defensive plus Offensive
9. Promised Based vs Risked Based Income assets
10. Growth assets
11. Legacy assets

 

Advanced Strategies Case Study:

(15 mins.) A. Goals and Objectives

1. The 4 L’s of Retirement
2. Key Core Measurements
3. Recommendations
4. Pros and Cons

 

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