Retirement readiness is holistic. It’s not just financial readiness.
As more is learned about retirement planning, it is becoming increasingly apparent that retirement readiness needs to be about more than just money and accumulating assets. The problem is that most retirement readiness definitions and measurements (as well as most research) have only focused on the financial side of the retirement equation. Without knowing what it will take to be happy in retirement (desired lifestyle) and the health that may be expected (good or bad), determining retirement readiness based solely on personal finances is nonholistic.
Tha’s why Part 1 in planning for retirement is to become retirement ready.
What does it mean to be retirement ready? Most people would agree that the goal of a successful retirement is to be happy, healthy and financially secure. Benjamin Franklin’s Poor Richards Almanac even quotes, “Early to bed and early to rise, makes a man healthy, wealthy, and wise.”
We help advisors holistically plan for retirement readiness by providing CE courses from today’s experts.
We are a CE Quality Partner of the CFP Board of Standards and have over 50 courses accepted for continuing education (CE) credit for those who have earned the Certified Financial Planner® (CFP®) certification, the College for Financial Planning’s Chartered Retirement Plan Consultant (CRPC) certification, the American College’s designations (ChFC, CLU, RICP), the International Foundation for Retirement Education’s (InFRE) Certified Retirement Counselor® (CRC®) certification, ASPPA and other certification or designations.
Retirement readiness has three components*:
Happiness & Engagement
What are workers’ life plans for retirement; what are they retiring “to?” What type of activities are they planning for? Will
they work or volunteer? Do they have a network of friends outside of work? Should they relocate, or stay where they are? If married, does the spouse or partner have the same retirement goals and dreams?
Do workers recognize and understand their potential personal longevity and that of their spouse? Are they maintaining good health habits in order to remain active in retirement? Have they considered their personal health situation in relation to their retirement lifespan and the number of years their money will likely need to last?
Are workers adequately planning to support the lifestyle they want throughout retirement? Have they established realistic
income goals for their future and considered potential risks to their income that can negatively affect their retirement years? Do they understand how
much of their income is guaranteed to be there for their lifetime, and can they really afford to retire as soon as they want?
Here are our courses that can help you help your clients plan for retirement readiness.
Topics below include setting targeted income replacement ratios based on income level, marital status, and phase of retirement; behavioral financial approaches to helping people be financially ready; how to prepare psychologically for retirement; understanding how expenses and spending patterns change in retirement; planning for achieving meaning and purpose in how you’ll spend your time in retirement; and how to be happy.
- the live or elearning webinar
- MP3 recording
- the presentation handout for notes
- exam for CE purposes with printable instant results
- Free CFP®, CRC®, reporting ($15 value)
05/17/2018 – How Much Can I Spend in Retirement? A Guide to Investment-Based Retirement Income Strategies – Wade Pfau – LIVE WEBINAR
This LIVE WEBINAR in which you may ask the presenter a question will be held on Thursday, May 17, 2018, Noon – 1:00 PM EDT – no need to take the online quiz to receive CE! If you miss the webinar you will be able to take the online recorded course 10-14 days after the […]
07/10/2018 Women and Retirement – Cindy Hounsell, Mary Beth Franklin, Shelley Giordano, Betty Meredith – REBROADCAST
By being retirement smart, we can help our women clients prepare ahead of time for the retirement-specific risks that are most likely to affect them. In retirement, women are more at risk than men of living longer than expected, surviving a spouse, experiencing a “grey divorce”, being a caregiver, dealing with the long-term care expenses […]
Most senior adults prefer to stay in their home as long as possible – after all, home is where the heart is. Yet, this may not always be the most practical choice. Retirement professionals are uniquely positioned to prompt important discussions between senior clients and their family members about lifestyle, housing, and healthcare needs that […]
What Color Is Your Parachute? for Retirement: Planning for Prosperity, Health and Happiness – John Nelson
Some workers seek out retirement planning information — while others avoid it. They all hope to have a good life in retirement, yet approach it differently. When people do “life planning,” it helps them do a better job of retirement planning. Learn how to engage your audience by using a broader approach. How can you […]
Good communication is the cornerstone to good client relations. There are a variety of communication styles, and understanding the differences can go a long way toward conveying important information and building trust with the people you serve. It is important for professionals to be able to identify, understand and prepare to adapt to the variety […]
Explore the implications for the future of retirement and the question of fiscal viability for businesses and entire economies. The pursuit of retirement − regardless of success or failure − has economic implications for all of us. Retirement realities worldwide are changing because of the changes in population growth, a higher percentage of the population […]
The Decision to Retire and Post-Retirement Financial Strategies: Insight from Eight Focus Groups – Greenwald and Bogosian
Little is known about what makes an individual successful in managing through their retirement years – especially when a retiree does not appear to have sufficient assets to actually retire. Whether people have sufficient assets and income for retirement is very dependent on when they decide to retire and how they expect to live during […]
Retirement is the most expensive “purchase” faced by most individuals. In order to properly forecast the value of assets during retirement, it is important to consider several other variables when estimating a person’s total retirement liability, such as their optimal replacement rate, their forecasted retirement period, and what it truly means to fail (or succeed). […]
The financial industry continues to “pump out” more investment products and solutions for your clients and employees to use to build assets for retirement. Behavioral research often stands in stark contrast to rational expected behavior. As the financial industry continues to “pump out” more investment products and solutions, the financial press continues to “spill ink” […]
Why is the prospect of saving for retirement so intimidating and what can you do to help change it? Accumulation is a critical component of preparedness. Ever wonder why the prospect of saving for retirement is so intimidating to many Americans? What creates that fear? And what can you do to help change it? Accumulating […]
Gain more clarity about how and why employees and consumers make retirement decisions. Behavioral research often stands in stark contrast to rational expected behavior. Behavioral research improves your ability to make informed decisions based on actual consumer or employee behavior, rather than relying on educated guesses or opinions. And, behavioral research provides a greater understanding […]
Gain insight into how financial security doesn’t automatically create happiness in retirement. Retirement planning and education programs provide tools and checklists for a successful financial transition. But financial security doesn’t automatically create happiness in retirement. Emerging research shows what actually leads to happiness — and it’s not obvious. This session shares practical tools and checklists […]
*”Improving Retirement Readiness for State and Local Government Employees“, Kevin Seibert, CFP, CRC, CEBS and Betty Meredith, CFA, CFP, CRC, the International Foundation for Retirement Education, April 2014.