Other Issues
Do healthier retirees spend less on healthcare?
(David A. Littell, JD, ChFC®, CFP® and Kenn Beam Tacchino, JD, LLM )
In this segment, we discuss the impact of good health on health care costs in retirement. We learn why healthier clients need to set aside more than others for retiree health care costs.
How Health Care Reform Affects Your Older Clients
(Nancy P. Morith, CLU®, CASL®, LTCP and David A. Littell, JD, ChFC®, CFP®)
This 26 minute video reviews the major changes that health care reform will have on older clients. Reforms include a gradual elimination of the Medicare Part D "Doughnut Hole", discounts and subsidies for needed pharmaceuticals, and other changes.
Forming the client relationship with a retirement income plan
(Jonathan Guyton, CFP® and Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, CWPP™ and David A. Littell, JD, ChFC®, CFP® and Kenn Beam Tacchino, JD, LLM )
We learn about clarifying what the client wants out of the relationship with the advisor when formulating an engagement to create a retirement income plan.
Gathering data for the retirement income plan
(Jonathan Guyton, CFP® and Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, CWPP™ and David A. Littell, JD, ChFC®, CFP® and Kenn Beam Tacchino, JD, LLM )
We learn about what data to gather and communicating with the client to ensure that all relevant information is known at this crucial stage of the retirement income planning process.
Analyzing data for the retirement income plan
(Jonathan Guyton, CFP® and Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, CWPP™ and David A. Littell, JD, ChFC®, CFP® and Kenn Beam Tacchino, JD, LLM )
We learn that knowing the client’s prioritized objectives is key to analyzing data for a retirement income plan.
Communicating the retirement income plan to the client
(Jonathan Guyton, CFP® and Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, CWPP™ and David A. Littell, JD, ChFC®, CFP® and Kenn Beam Tacchino, JD, LLM )
We learn that communicating the retirement income plan to the client involves a lot of listening and working together.
Implementing the retirement income plan
(Jonathan Guyton, CFP® and Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, CWPP™ and David A. Littell, JD, ChFC®, CFP® and Kenn Beam Tacchino, JD, LLM )
We learn about how to successfully implement the retirement income plan.
Monitoring the retirement income plan
(Jonathan Guyton, CFP® and Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, CWPP™ and David A. Littell, JD, ChFC®, CFP® and Kenn Beam Tacchino, JD, LLM )
We learn about how often to monitor the retirement income plan and how important this step is to the success of the plan.
Best Practices: Advice for the "Rookie" Retirement Planner
(Jerry Borrowman, CLU, ChFC, CAP, LUTCF, MSFS and Alan E. Peters, MSFS, MSM, CLU, ChFC and Dennis M. Axman, CLU, ChFC, AEP, CFP and Kenn Beam Tacchino, JD, LLM )
This 13 minute video features savvy veteran advisors giving advice to those who are new to the retirement income field. Watch for some great advice from industry leaders.
Process Centric Advising
(Garth A. Bernard and Kenn Beam Tacchino, JD, LLM )
This 9 minute video provides a framework for working with older clients. Garth Barnard emphasizes the importance of planning in todays environment, emphasizing the importance of considering a clients need to meet consumption, investment, and protection concerns. The discussion then focuses on how these planning issues relate to the distribution phase of retirement.
The Perfect Storm: Planning In Todays Retirement Environment
(Michael Lackey, CLU®, ChFC® and R. Morris Sims, MSM, CLU®, ChFC®)
This 11 minute video discusses solutions to the longevity risk, market risk, inflation risk and overspending risk facing retirees today.
Best Practices: The Overlooked Retirement Network
(Andy Barksdale and Kenn Beam Tacchino, JD, LLM )
We discuss building a network of referrals from within your institution. We learn ways for financial advisors to improve their internal networks to improve relationships and ultimately referrals.
Why is it important to consider the differences between older and younger baby boomers?
(David A. Littell, JD, ChFC®, CFP® and Kenn Beam Tacchino, JD, LLM )
In this video we review the differences between older and younger baby boomers. We learn why it is important to consider these differences when advising your clients.
What are the important ethical considerations when working with an older client?
(Ronald F. Duska, PhD and Kenn Beam Tacchino, JD, LLM and Harry R. Moody, Ph.D.)
A review of some of the ethical issues planners may encounter when advising an elderly client. We learn about competency, multiple party representation, and financial abuse by family members.
What should financial professionals know about the unique needs of women clients?
(Mary Quist-Newins, CFP®, CLU®, ChFC® and David Babbel, Ph.D. and Kenn Beam Tacchino, JD, LLM )
A review of the unique risk factors women face in retirement. We learn that Social Security and long term care can have different meaning for a women than for a man.
What should be the retirement age?
(Kenn Beam Tacchino, JD, LLM and Steven A. Sass, Ph.D.)
We examine when people plan to retire. We learn why anchor points have fallen out of favor as a method of choosing an age to retire.
What are the trends concerning the selection of a retirement age?
(Kenn Beam Tacchino, JD, LLM and Steven A. Sass, Ph.D.)
We look at an historical perspective concerning retirement age. We learn about retirement-age averages and retirement-age trends.
What retirement benefits are available to federal civilian and military employees?
(John D. Cermak, CFP® and David A. Littell, JD, ChFC®, CFP®)
We look at the retirement benefits available to federal civilian employees and military employees. We get an overview of each system.
What are other benefits available to the military that can affect retirement security?
(John D. Cermak, CFP® and David A. Littell, JD, ChFC®, CFP®)
We look at some issues regarding military benefits. We learn about survivor benefit plans, veteran’s group life insurance, and the GI bill transferability provisions for children.
What benefits are provided under the Federal Employee Retirement System (FERS) program?
(John D. Cermak, CFP® and David A. Littell, JD, ChFC®, CFP®)
In this video, John Cermak describes in detail the defined-benefit pension benefits provided to Federal civilian employees under FERS. Besides learning about the benefits, we also learn about the key planning issues facing a FERS retiree.
Understanding the advantages of long-term care insurance as a funding option for long-term care needs
(Debra C. Newman and David A. Littell, JD, ChFC®, CFP® and Jamie Patrick Hopkins, Esq., J.D., M.B.A.)
We discuss why long-term care insurance is a valuable retirement planning tool and can be specifically designed to address a client’s the long-term care needs. We learn about the ability of long-term care insurance to take an unpredictable personal risk and add certainty to the costs. Additionally, we examine the impact of long-term care planning on a person’s mental, financial, family, and retirement well-being.
Deciding between a group or individual long-term care insurance policy
(Debra C. Newman and David A. Littell, JD, ChFC®, CFP®)
We discuss how to compare a group long-term care insurance policy to currently available individual polices. We learn about the benefits of employer sponsored group long-term care insurance plans, including simpler underwriting, reduced costs, and protecting insurability.
Concepts and Conversations: Long-Term Care
(Ralph Leisle, CLU®, ChFC® and Nancy P. Morith, CLU®, CASL®, LTCP and Kenn Beam Tacchino, JD, LLM )
This 60 minute video examines the financial impact of a long-term care event with and without insurance. It also looks at the new and expanding trend of partnership-qualified LTC policies. The new information presented may be useful to even the most skillful long-term care insurance planner.
Uses of life insurance in retirement
(Edward E. Graves and Tom Hegna and David A. Littell, JD, ChFC®, CFP®)
Tom Hegna identifies the wide variety of ways that life insurance can fit into a retirement income plan.
The opinions presented in these videos are those of the speakers, and do not necessarily represent the opinions or policies of New York Life. New York Life makes no warranties or representations about the accuracy or completeness of the statements made in this video, or any associated materials appearing on The American College website and assumes no liability for damages resulting from the use of the information contained therein. New York Life is not engaged in rendering legal, accounting, or other professional advice through the use of this video or associated materials. If legal or other expert advice is required, the services of an appropriate professional should be sought.
