The Complete Disconnect Between Economics-Based and Conventional Financial Planning

Laurence Kotlikoff

MaxiFi Planner

Monday, March 01, 2021 | 01:00 PM EST

  • CPA
  • EA
  • Tax Pros
  • PFS
  • CTEC
  • CFE

2 CPE | 2 CE

FREE

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPE credit of Taxes for all CPAs

2 CPD credit (Verifiable) for CPA/PFS

2 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

2 CE credit of Federal Tax for Oregon Tax Preparers

2 CE credit of Federal Tax for Maryland Tax Preparers

2 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ )

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

Unbeknownst to most people, economists have been working on personal finance for a century. This CPE webinar for CPAs will describe the state of economics-based financial planning advice. It will cover consumption smoothing, upside investing, safe ways to raise clients' living standards, new technologies for optimizing Social Security, retirement account contribution and withdrawal decisions, the value of Roth conversions, the gain to pre-paying mortgages, and many other topics. 

The course will also contrast conventional financial planning with economics-based financial planning. Attendees will learn that everything economists recommend when it comes to financial decisions is at complete odds with conventional financial advice thanks to the ad-hoc and deeply flawed methodology underlying conventional financial planning software. Professor Kotlikoff will demo economics-based financial planning using the sole planning tool available that does economics-based planning. This is MaxiFi Planner, developed by Professor Kotlikoff's company. 

Key topics: 

  1. This historical development of economics-based financial planning.
  2. Consumption Smoothing
  3. The difference between economics-based and conventional financial planning.
  4. The dynamic programming methodology underlying economics-based financial planning.
  5. Examples of how economics-based financial planning can safely raise clients' living standards and make prudent investments.

Who should attend: 

CPAs, other professionals who provide financial planning advice and top management executives, CEOs, CFOs in charge of the financial planning function of their company. 

Learning Objectives

  • To review everything economists recommend when it comes to financial decisions as compared to conventional financial advice
  • To discuss the ad-hoc and deeply flawed methodology underlying conventional financial planning software.
  • To demonstrate economics-based financial planning using the sole planning tool available that does economics-based planning.

Who Should Attend?

  • Finance Pros
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • CPA (Industry)
  • Young CPA
  • Finance Director
  • Certified Financial Planner