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SRI 131 — Planning for a Secure Retirement

Course Type: Highly Interactive Online Course, Designation
Topics: Retirement & Annuities
Designations: ASRI, FSRI, FSRI Level I
Language: English


This online interactive course takes learners through the retirement planning process, identifies the tools that are available to help individuals create a retirement plan, and describes the primary components of a comprehensive retirement plan.

After completing this course, learners should be able to:

  • Describe factors that make retirement planning a top priority for many people and the primary activities people perform during the accumulation phase of retirement planning
  • Explain how inflation and longevity influence a person's retirement income needs, and the methods people use to determine income needs at retirement
  • Describe the tax consequences of receiving benefits from a tax-advantaged retirement plan in a lump-sum distribution
  • Describe strategies retirees can use to manage risks during the decumulation period
  • Identify methods customers use to manage and store cash
  • Identify three basic types of risks that are insurable
  • Explain how wills are used to transfer property, the key people involved in creating and administering a will, and the requirements of a valid will


  • Importance of Retirement Planning
  • Retirement Planning Overview
  • Resources for Retirement Planning
  • Retirement Planning Tools and Advisors
  • Accumulation Planning
  • Pre-Retirement Decisions
  • Timing of Retirement
  • Retirement Location and Housing
  • Adjusting Investments
  • Decumulation Planning
  • Managing and Spending Income
  • Retirement Plan Components
  • Planning Cash Management
  • Planning for Asset Protection
  • Planning for Estate Management


Lesson 1: The Retirement Planning Process

I. The importance of Planning

A. The availability of guaranteed retirement income is uncertain

B. Retirement is lasting longer

C. Family structure is changing

D. The unexpected is bound to happen

E. The future depends on what happens now

II. Reasons for Not Creating a Plan

A. Status quo bias

B. Hyperbolic discounting

C. Loss aversion

D. Emotional bias

E. Anchoring

F. Framing

III. The consequences of Not Planning

IV. The Retirement Planning Process

A. Accumulation

B. Pre-retirement decision making

C. Decumulation

Lesson 2: Tools for Creating a Retirement Plan

I. Personal Planning Tools

A. Financial statements: budgets, cash flow statement, balance sheets

II. Consumer Worksheets

A. Worksheet steps: calculating current income, calculating target income, Identifying known income sources, calculating gaps in income, accounting for inflation, calculating retirement income shortfalls, calculating savings needed

III. Web-based Calculators and Computer Models

IV. Professional Retirement Planning

A. Planner’s roles and responsibilities

B. Finding a retirement planner

• Selection criteria

• Personal and emotional factors


Lesson 1: Accumulation Planning

I. Establishing retirement goals

A. Identifying goals

B. Classifying goals

C. Prioritizing goals

D. Selecting goals

II. Determining the Retirement Income Target

A. Calculating income needs at retirement

B. Calculating income needs during retirement

III. Creating a savings framework

A. Savings incentives

B. Spending constraints

IV. Developing an investment plan

A. Risk levels

B. Investment goals

C. Investment strategies

D. Asset allocation

V. Plan review

Lesson 2: Retirement Decisions

I. When to retire

A. Retiring before reaching full retirement age

• Advantages/disadvantages

• Strategies

B. Retiring at full retirement age

• Advantages/disadvantages

• Effect on health care coverage

C. Retiring later than full retirement age

• Advantages/disadvantages

II. Where to retire

A. Decisions about retirement housing options

B. Decisions about location

III. How to retire

A. Reallocating assets

B. Investment strategies

C. Investment risks

Lesson 3: Retirement Income Planning

I. Social Security

A. Primary insurance amount

B. Age at retirement

II. Tax-Advantaged Retirement Plans

A. Lump-sum distributions

• Direct payment

• Rollovers

B. Periodic payments

• Annuity options for DB plans

• Annuity options for DC plans

• Installment payments: systematic withdrawals

C. Stock bonus plans

III. Retirement Plan Distribution Requirements

A. Required beginning date

B. Required minimum distributions

C. Penalties

D. Distributions from multiple plans

IV. Investments

A. Withdrawal rates

B. Withdrawal strategies

C. Asset allocations

V. Taxes on Distributions

VI. Decumulation Risks


Lesson 1: Cash Management Plan

I. Managing money

II. Managing credit

A. Types of credit: installment (secured, unsecured), open, revolving

B. Credit management strategies

III. Managing cash flows

A. Cash flow analysis: increasing income, decreasing expenses

B. Cash flow planning: budgeting

C. Managing investment returns

• Fixed-rate investments: total returns, rates of return

• Stock investments: returns, rates of return

• Taxes and fees

Lesson 2: The Insurance Plan

I. Risk Management

II. Transferring Risks with Insurance

III. Components of the insurance Plan

A. The Life Insurance Plan

• Personal needs met by life insurance

• Business needs met by life insurance

B. Types of Life Insurance

• Term life: Plans

• Cash value

• Choosing life insurance

• How much life insurance is enough

C. Health Insurance

• Medical expense

• Long-term Care

• Disability income

D. Property & Liability Insurance

• Homeowners insurance

• Automobile insurance

Lesson 3: Estate Plan

I. Estate Planning Documents

A. Property inventories

• Ownership arrangements

• Personal information

B. Property transfer documents

• Wills: the probate estate, the probate process, distribution options

• Will substitutes

• Trusts

C. Authorization documents

• Power of attorney

• Advance health care directives

II. Estate taxes

A. Estate tax calculations

B. Estate tax strategies

Course Format

LOMA’s popular online interactive courses teach important industry concepts through an engaging, highly interactive, multi-media approach that often includes integrated video, audio and scenario-based learning. Online interactive courses are designation courses with integrated exams—the modularized examinations are built right into the course as part of the learning experience. No separate exam enrollment required!

Exam Format

Integrated Exams

Online interactive courses are non-proctored designation courses—the modularized examinations are built right into the course as part of the learning experience. No separate exam enrollment required!

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