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
- New ways to secure retirement income in retirement
- Client Education – outline retirement fears and risks
- Product Allocation to income allocation before asset allocation
- Discuss three basic retirement income methods
- Discovery of the Household Balance Sheet
- Framing comparable solutions
Key Elements of the Process
(15 mins.) A. Know Your Client – Getting to the Heart of the Matter
- Where are you from, and what was it like growing up
- What did you learn about money growing up
- What is the hardest lesson you’ve had regarding money?
- What is the best experience you’ve had regarding money?
- What would you do with your time if no one paid you?
- Questions
Foundational Realities, Fears and Risks
(10 mins.) A. Math and Science: Nominal vs. Real Returns
- U.S. expenditures for major entitlements since 1971
- Baseline projections for 2014-2024
- Real Real Returns
- DALBAR Study 2015
Five Fears of Retirees
(5 mins.) A. Outliving your money
- Control of your money
- Inflation
- Legacy
- Investment mistake
Five Financial Risks – Taking
(15 mins.) A. Longevity Risk
- Health care risks and medical inflation
- Inflation
- Sequence of Returns Risk
- Market Volatility
(10 mins.) Break
Taking Other Key Risks Off the Table
(10 mins.) B. Stages of Life and Risk
- The retirement red zone – 10 years before and after retirement
- Traditional investment mix
- Guaranteed life protection
- Aligning risks with product allocation
- Annuities
- Cash/bonds/alternatives
- Equities
- Insurance – life, LTC and liability
Guaranteed Lifetime Income Products
(15 mins.) A. Guaranteed Lifetime Withdrawal Benefit Rider (GLWB)
- Single Premium Immediate Annuity (SPIA)
- Deferred Income Annuity
- Comparison GLWB/DIA
- Income Annuity Benefits
- Additional security during retirement
- Dependable and predictable income
- Protection against inflation
- Portfolio diversification
Three Retirement Income Strategies
(10 mins.) A. Systematic Withdrawal Income Plan (SWIP)
- Buckets/Laddered/Progressive Time Segments of Money
- Retirement Income Floor/Guaranteed Income Solutions
Retirement Strategy
(10 mins.) A. Making the Impossible Possible
- Buy Income and Invest the Rest
- Maximize tax efficiency
- Bracket-bump Roth conversions
- Social Security optimization
- Minimize fee-drag
- Inflation-adjusted lifetime income
- Divide and Conquer
- Defensive plus Offensive
- Promised Based vs Risked Based Income assets
- Growth assets
- Legacy assets
Advanced Strategies Case Study:
(15 mins.) A. Goals and Objectives
- The 4 L’s of Retirement
- Key Core Measurements
- Recommendations
- Pros and Cons
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