Leaving the Workforce? Tax Changes & Effective Planning Strategies

After decades saving for retirement, transitioning to spending down savings can be a huge shift in mentality for retirees.  Additionally, one of the biggest surprises that new retirees often face is how their taxes change upon leaving the workforce. For the average worker who has spent his or her adult life paying ordinary income tax via payroll withholdings, the shift to flat withholding rates combined with differing rules depending on the source of their income can leave many clients with an unexpected tax bill after they retire.

There is a great demand by the baby boomer demographic—the most affluent generation in our history—who seek credible, expert solutions to their complex retirement planning requirements, and view tax erosion as the biggest threat to their wealth.  Besides educating clients on how different sources of retirement income are taxed, being able to help them build an income plan in a tax-efficient way is a valuable service and can save everyone time, tax, and frustration in the future.

Our leading edge Tax Efficient Retirement Income Planning certificate course marries tax and financial planning competencies to help clients adequately fund tax-efficient income requirements by accumulating, growing, preserving and transitioning wealth through three phases of retirement—pre-retirement, in-retirement and post-retirement. Our program is designed to provide structure and process for advisors interest in specializing in tax-efficient retirement income planning.

As an advisor, you will establish a strategic “real wealth management plan” based on client needs for tax efficient income as well as after-tax capital preservation, growth and transition. You'll plan a 20-year retirement income strategy that minimizes capital encroachment to preserve as much savings as possible for uncertain futures, but in addition, averages down taxes on many layers of income sources that will be earned by a couple in retirement.

Specifically, the Tax Efficient Retirement Income Planning course offers:

• Methodology: Tax-Efficient Retirement Income Planning
• First Steps: Helping Clients Envision the Plan
• Tax Changes Relating to Retirees
• Managing Government Income Sources
• Managing Canada Pension Plan
• Planning with Tax-Assisted, Self-Funded Sources
• Foreign Pensions and Non-Registered Accounts
• Tax-Efficient Retirement Income Planning for Employees Part 1
• Tax-Efficient Retirement Income Planning for Employees Part 2
• Planning for Post-Retirement and Survivors

This outstanding certificate course, Tax Efficient Retirement Income Planning is a “must do” for advisors who want to become accredited in providing advice on this strategy with their clients.  This might be the most important financial course you have taken in some time.