How to Understand, Communicate, and Plan for Risk in Retirement

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This session discusses major problems with the common Probability of Success score when it is used for retirement planning, both analytically (it doesn’t mean what you think it means) and psychologically (it leads to client anxiety). Additionally, an exploration of what risk in retirement is really like and how a focus on finding the right balance between the risk of overspending and the risk of underspending in retirement can help advisors give clients better ongoing guidance, and improve both client outcomes and experiences.

​Learning Objectives

Upon successful completion of this learning activity, you will confidently be able to:​

• Identify types of client goals and the major questions that they bring to the retirement planning process.
• Explain how probability of success leads toward predicted underspending of retirement resources and higher client anxiety.
• Learn to communicate retirement risk using the concepts of overspending and underspending.
• Know how to implement and monitor adjustment-based retirement plans.

Presenter

Justin Fitzpatrick, PhD, CFA, CFP^©

CFP^® CE Credit

This content is eligible for one hour of CFP^® continuing education (CE) credit.

If you hold the CFP^® mark and would like to receive CFP Board CE credit for this content, please ensure your CFP^® ID number is entered here.

The College’s Professional Recertification Program (PRP)

This content is eligible for one hour of PRP continuing education credit.

To begin, click on the button below. As you move through the content, make sure to mark each page complete by clicking on the appropriate button, and then click Next Lesson at the bottom of each page. Once you complete the entire activity, the progress bar will show 100%.

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