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Accounting & Audit

Free AICPA Webcast Gives Consumers Advice on Retirement Spending

Americans are living longer than ever. In fact, every day 10,000 baby boomers turn 65. Many of them will spend more than 20 years in retirement and must contend with unexpected events, such as the recent stock market downturn.

Americans are living longer than ever. In fact, every day 10,000 baby boomers turn 65. Many of them will spend more than 20 years in retirement and must contend with unexpected events, such as the recent stock market downturn.

This new-normal of extended retirement means that now more than ever, monitoring current spending and anticipating cash-flow needs in retirement is a crucial aspect of retirement planning.

On August 27 from 1:00 – 2:00 P.M. ET the Personal Financial Planning Division of the AICPA and 360 Degrees of Financial Literacy will host a free webcast that will provide consumers with strategies to help them plan for spending in retirement, and how to connect their spending and savings goals in advance of retirement. CPA financial planners will discuss the recent decline in the stock market and the importance of being prepared for unexpected events. Given the recent downturn, this webinar is extremely timely – both for consumers who are saving for retirement and those who are already retired.

What: CPA/PFS credential holders will offer consumers insight and considerations on planning for spending in retirement. According to a recent AICPA survey of CPA financial planners, not having enough money for retirement is the top financial concern for their clients, underscoring the importance of this issue.

The webinar consists of three parts:

Envisioning retirement – which deals with establishing your aspirations in retirement, including accounting for travel, hobbies and charitable giving.

Planning for retirement – which entails tracking your current spending levels, establishing when you intend to retire and calculating any potential changes to spending in retirement.

Implementing your plan in retirement – this section focuses on withdrawal strategies, asset allocation, income tax considerations and spending adjustments, with a focus on having a flexible plan.

 

Who: Michael Goodman, CPA/PFS, president, Wealthstream Advisors, Inc.

Lori Luck, CPA/PFS, CLS Advisors, Inc.

David Stolz, CPA/PFS, Stolz & Associates, PS

When: Thursday, August 27, 1:00 – 2:00 P.M. ET

How: Register online in advance for the free webinar.