This is a retirement planning class geared towards those who are within 10 years of retirement. 

Week 1 – Understanding the Retirement Challenge

• Accumulating versus distributing retirement funds
• The three retirement challenges: longevity, inflation, investment management
• The three steps to retiring: create a budget, maximize income sources, create an income stream from investments.
• Ascertaining your emotional preparedness
• Ascertaining your financial preparedness
• The 10 most common retirement mistakes

Week 2 – Maximizing Employer Sponsored Retirement Benefits

• How to maximize the value of your company provided pension plan
• Should I take my pension as a lump-sum (if possible) or choose a monthly payment option?
• Choosing the proper survivor benefit option
• How inflation impacts the monthly pension check
• How to identify the best investment options in your 401(k)
• Considerations when deciding to make Roth vs. Traditional 401(k) contributions
• Health insurance planning during retirement

Week 3 – Optimizing Social Security

• Understanding the sustainability of Social Security
• How are my benefits determined and calculated?
• Spousal benefits
• Divorced spouse benefits
• Survivor benefits
• Using the Social Security website and how to apply for benefits
• Maximizing your personal Social Security benefits
• The taxation of Social Security benefits

Week 4 –Investing for and During Retirement

• A historical view of investments
• Understanding the risks and rewards of investing
• Understanding the difference between volatility vs. risk
• Investing versus speculating
• What “really” determines investment performance
• Asset allocation, time horizon, diversification
• What rebalancing is and why it is important?
• The impact of fees on an investment portfolio
• Debunking the most prevalent misconceptions and investment fallacies of our day
• How to avoid making serious investment mistakes

Week 5 – Create a Personalized Retirement Income Plan

• The importance of having a retirement income plan
• Investing with purpose, goal-based investing
• How to create a reliable and tax-efficient stream of income from your investments through time segmented investing
• How to protect your immediate income form stock market downturns while protecting your future income form inflation
• Coordinating Social Security and pension income with investment income

Week 6 – Minimizing Taxes and Maximizing Charitable Giving Throughout Retirement

• Required Minimum Distributions, what are the rules and how to prepare
• Planning for a tax efficient retirement
• Understanding individual taxes during retirement
• How to avoid common tax pitfalls that may impact your Medicare premiums
• Tax considerations for those contemplating a senior mission.
• Estate Planning Considerations

Virtual Open Lab (after week 5):

The purpose of this Virtual Open Lab (after week 5) with the instructors and/or Certified Financial Planners™ (by appointment) is to provide you with the opportunity to analyze your own financial preparedness for retirement, using the tools and concepts presented in the class. You will have the opportunity for one-on-one feedback from the instructors and/or Certified Financial Planners™ as they help you:

• Estimate your Social Security retirement benefits
• Estimate your pension or other company retirement benefits
• Properly allocate your investments in preparation for retirement
• Coordinate your Social Security/Pension benefits with income from your investments to optimize your future income and minimize taxes during retirement

NOTE: DMBA is not affiliated with or a sponsor of this class. To discuss your DMBA retirement benefits with a DMBA financial professional please email finplanning@dmba.com or call 801-578-5627