CPE | CE Course on IRA Account or Social Security First?

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

The Risk Adjusted Return on Stocks

12 mins
Comparing Taking SS Versus IRA First Requires an Apples-to -Apples Comparison

20 mins
Meet Rachel and Patrick Weil

24 mins
sources of Lifetime Spending Gain

32 mins
Comparison - Take IRA at 62, SS at 70 Produces Huge, Safe Increase in Lifetime Spending

45 mins

Course Description

It is a retirement dilemma.

When planning for retirement cash flow, should a client start Social Security as early as age 62, letting individual retirement account money continue to grow, tax-deferred? Or should that client tap the IRA and wait for a larger Social Security benefit?

Many people who wind up with a smaller Social Security check because they claim their benefit early could have waited longer to file, thanks to funds in their IRA.

Around 34 percent of beneficiaries who claim their Social Security before 66 — the current full retirement age for most people — have enough money in an IRA to finance the equivalent of at least two years of Social Security benefits, the researchers found. A quarter of them had enough to finance at least four years.

That’s the finding from a recently published study in the Journal of Pension Economics & Finance.

“It seems like there is a significant portion of the population claiming early even though they have the potential to finance a delay,”

The conventional wisdom says that you should wait to claim benefits as long as possible, to maximize your payments. But one size doesn’t fit all, and people’s circumstances are often different than the standard assumptions about expected lifespan and career plans.

Many retirees decide to take Social Security early so as to earn more money investing their IRAs in stocks and other high-yield securities. This online CE course will examine this decision from the perspective of finance, tax implications, and, most important, the impact on Social Security benefits of waiting to collect.

Major Topics covered in this Tax CE webinar:

Which Accounts You Should Draw Down First in Retirement?
Who’s Making IRA Withdrawals?
Who takes social security first?
What are the key finding from the IRA study?
When an IRA Withdrawal Can Be Wise?

Click here to access webinars on | Latest Tax Updates | Trust, Estate and Financial Planning | IRS Audit, Representation and Resolutions |

Learning Objectives

To discuss the trade-off between taking Social Security or taking Retirement Account withdrawals first.
To determine how to risk-adjust risky returns on retirement account investments.
To determine the payoff to patience in taking Social Security.

Recommended For

This IRS approved CE course is recommended for CPAs, EAs, AFSPs and Other Tax Professional involved in financial and tax planning for their clients.

Who Should Attend?

Annual Filing Season Program
Bookkeepers & Accountants & Tax Preparers
Certified Public Accountant (CPA)
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Enrolled Agent
Maryland Tax Preparers
Oregon Tax Preparers
Tax Preparer
Young CPA

Course Qualification

Webinar Qualifies For

1 CPE Credit of Retirement Planning for Chartered Special Needs Consultant (ChSNC)
1 CPE Credit of Retirement Planning for Chartered Financial Consultant (ChFC)
1 CPE Credit of Retirement Planning for Chartered Advisor in Senior Living (CASL)
1 CE Credit of Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA)
1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0585)
1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00612-21-S)
1 CPE Credit of Retirement Planning for Financial Services Certified Professional (FSCP)
1 CPD Credit of Retirement and Financial Independence Planning for Personal Financial Specialist (PFS)
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 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00612-21-S)
1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00612-21-S)
1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
1 CE Credit for Certified Wealth Strategist (CWS)
1 General Credit for Accountant/Bookeeper
1 CE Credit for Certified Plan Fiduciary Advisor (CPFA)
1 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-01148-22-S)
1 PL Credit for Chartered Financial Analyst (CFA)
1 PL Credit for Certificate In Investment Performance Measurement (CIPM)

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

QAS Self Study
Pre-requisites :

None
Advance Preparation :

None

IRS APPROVED

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

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

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.

CTEC APPROVED

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

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Laurence Kotlikoff

Professor, MaxiFi Planner

Laurence Kotlikoff is a Professor of Economics at Boston University, Fellow of the American Academy of Arts and Sciences, Fellow of the Econometric Society, Research Associate of the National Bureau of Economic Research, President of Economic Security Planning, Inc., and Director of the Fiscal Analysis Center.

Professor Kotlikoff has written 19 books and hundreds of professional articles and Op-Eds. He is a New York Times best-selling author and a frequent television and radio guest. His columns have appeared in The New York Times, The Wall Street Journal, The Financial Times, The Boston Globe, Bloomberg, Forbes, Yahoo.com, Fortune, and other major publications. In 2014,The Economist named him one of the world’s 25 most influential economists

About Company

MaxiFi Planner

maxifiplanner.com

MaxiFi is our state-of-the-art financial and retirement planning tool that calculates what you should spend, save, and insure annually to maintain your living standard. It also examines tens of thousands of Social Security, retirement account, annuity and other strategies to raise your living standard. The result is often tens to hundreds of thousands of dollars in additional lifetime spending.

Faq

FAQs content

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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.
You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
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.
myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.2

32 Ratings

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David Fix, CFE, CPA (US)

Dec 17th, 2021

I actually looked forward to taking this course and was disappointed. Oh, let me count the ways: 1) his example - a couple with $5M in an IRA - kind of an extreme example if you count that not many have even a few hundred thousand in their IRAs - isn't the example kind of a no-brainer-you're sitting on $5M - take it first! 2) for income/expense leveling, live like paupers and take less than $100K the first few years-doesn't this fly in the face of retirement phases: "go-go, slow-go and no-go?" 3) the extreme example seems to be more of a sales of his software? a more "in-line" with the norms of society may have been better?