Estimating the True Cost of Retirement

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Retirement is the most expensive purchase faced by most individuals. In this session, David Blanchett will explore a framework to better understand how much retirement actually costs and a process for better estimating its true cost. This session will include a discussion of the implications of properly forecasting the growth of assets and important considerations when estimating the liability, such as determining the optimal replacement rate, forecasting the retirement period and understanding what it truly means to fail (or succeed) during retirement.

​Learning Objectives

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

• Gain a better understanding of the key variables required to estimate the cost of retirement
• Learn of a more effective approach for calculating an income replacement rate
• Learn of a better spending model to help you understand how expenses tend to change throughout retirement and the implications of these changes on the retirement need
• Discover today’s “safe” initial withdrawal rate.

Presenter

David Blanchett, PhD, MSFS, CFA, CLU^®, ChFC^®, 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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