Reducing Financial Stress in Retirement

Course Description
Course Qualification
Presenter
FAQ

Course Description

Retirement generally means a substantial reduction in income.

Members of the Baby Boomer generation (those born between 1946 and 1964) are reaching age 65, and usually retiring, at a rate of approximately 10,000 every single day, and will continue to do so for the next 8 to 10 years. (That adds up to about 30 million people.) Of those 30 million people, more than 5 million will retire owning a home on which they will still need to be making mortgage payments.

Mortgage payments generally consume a significant portion of the retirees’ income, especially because that income is reduced from their level during their working life. Therefore, the need to make these mortgage payments creates great financial stress. If the payments are, in whole or in part, drawn from a retirement plan account (for example a 401(k) account or a rollover IRA), the stress is increased by the risk of premature exhaustion of the account.

In this CPE Finance webinar, the speaker explains that financial stress can be reduced by retirees’ responsibly accessing the existing equity in their homes. Proper access is accomplished by the use of a reverse mortgage.

This CPE course explains this process in several contexts with quantitative examples:

Replacing an existing mortgage on the current home
Downsizing to a smaller home
Upsizing to a larger home

Join this CPE webinar to understand how to reduce financial stress in retirement!

Learning Objectives

To analyze the reason for financial stress in retirement.
To identify different financial risk categories.
To analyze the cycle of decision-making and how to de-couple emotion.
To inspect how you approach financial decisions and how to use that knowledge for your best outcome.
To explain the variety of plans to make a more informed decision about retirement.

Recommended For

This Online CPE webinar is recommended for CPA, CFA, CIPM, CVA, CBA/MCBA, ChFCA, CASL, ChSNC, RICP, WMCP, FSCP, PFS, TEP, CSA, CFIRS, CWS, Finance professionals, Business owners, and financial consultants who want to understand how to reduce financial stress in retirement.

Who Should Attend?

Certificate in Investment Performance Management
Certified Public Accountant (CPA)
Certified Senior Advisor
Certified Valuation Analysts
Chartered Financial Analyst
CPA (Industry)
CPA - Large Firm
CPA - Mid Size Firm
Finance Pros
Trust & Estate Specialist
Young CPA

Course Qualification

Webinar Qualifies For

1 General Credit of Finance for Accountant/Bookkeeper/Tax Professionals
1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
1 CPE Credit of Finance for Certified Valuation Analyst (CVA)
1 PL Credit of Retirement Planning for Chartered Financial Analyst (CFA)
1 CPD Credit of Retirement and Financial Independence Planning for Personal Financial Specialist (PFS)
1 CPD Credit for Trust and Estate Practitioners (TEP)
1 CPE Credit of Retirement Planning for Chartered Financial Consultant (ChFC)
1 CE Credit of Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA)
1 CPE Credit of Retirement Planning for Financial Services Certified Professional (FSCP)
1 CPE Credit of Retirement Planning for Chartered Advisor in Senior Living (CASL)
1 CPE Credit of Retirement Planning for Chartered Special Needs Consultant (ChSNC)
1 CPE Credit of Retirement Planning for Retirement Income Certified Professional (RICP)
1 CPE Credit of Retirement Planning for Wealth Management Certified Professional (WMCP)
1 PL Credit of Retirement Planning for Certificate In Investment Performance Measurement (CIPM)
1 CPE Credit of Finance for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
1 CE Credit for Certified Wealth Strategist (CWS)

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

Group Internet Based
Pre-requisites :

None
Advance Preparation :

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Barry Sacks, J.D., Ph.D.

, Barry Sacks

Barry H. Sacks, PhD, JD, a member of the California State Bar, is a tax attorney specializing in pension law. He is a 1973 graduate of Harvard Law School. Since 1974, with the enactment of ERISA (the pension reform law), he has practiced almost exclusively in the area of retirement plan law. He has been certified as a specialist in taxation law since 1980 by the California Board of Legal Specialization. For the past ten years, he has been listed in the peer-selected “Best Lawyers in America”. In 2015, Mr. Sacks was designated as Best Lawyers’ “Lawyer of the Year” in the field of retirement plan law for the San Francisco Bay area. In addition, he holds a Ph.D. in theoretical physics from MIT, where he completed a doctoral dissertation that involved substantial mathematical modeling.

He published the pioneering research paper modeling the use of reverse mortgage credit lines to mitigate the effects of adverse sequences of investment returns in retirement accounts (Journal of Financial Planning, February, 2012). The retirement income strategy described in the Journal of Financial Planning article has been granted 2 patents. He published a sequel to this paper in the October, 2017 issue of the Journal of Financial Planning, expanding the range of application of the strategy. In 2016, he published an article in the Journal of Taxation (“Recovering a Lost Deduction”) on the income tax deduction for interest accrued on reverse mortgages. While developing his model for the use of reverse mortgages in retirement income planning, Mr. Sacks became aware of other needs of retirees (or soon-to-be retirees), including those who are moving to new homes and those who are in the process of divorce. As a result, he has published papers demonstrating various uses of reverse mortgages to address these retirees’ needs.

In the earlier part of his career, Mr. Sacks spoke frequently at California Continuing Education of the Bar presentations and at advance tax seminars as a visiting lecturer at U.C. Hastings College of the Law. More recently he has spoken at various Bar Association meetings (including the Marin County Bar Association and East Bay Trusts and Estates Council) and at meetings of financial planning organizations.

Faq

FAQs content

To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

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Samantha Wheelock, CPA (US)

Jun 23rd, 2022

Very interesting training and concept to retirement savings I did not consider in the past. Would love to learn more in regards to how best to implement.