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This webinar features the research of Professor Jim DiLellio that provides a framework to find an optimal decision for tax-efficient retirement income. By developing a model for income and capital gains tax with stock and bond investments in tax-deferred, tax-exempt, and taxable accounts, Professor DiLellio identifies three categories of retirees based on their income needs and net worth. He proposes and evaluates a simple heuristic to determine what retirement income strategy is optimal, quantifying a 0.5% annual return benefit. This tax alpha benefit, which is due to paying taxes early, contrary to common wisdom, is one that is tax robust across varying model input parameters. Professor DiLellio will illustrate that seeking an optimal decision for retirement income withdrawals requires different strategies.

Learning objectives:

  • Review the common rule’s application to retirement drawdowns
  • Identify where the common rule can be tax-inefficient with knowledge the heir’s marginal tax rate.
  • Understand a simple heuristic to categorize a retiree’s assets into insufficient, sufficient and excess based upon their income needs and retirement horizon.
  • Learn why there is a strategic benefit to paying taxes earlier, particularly for a retiree and spouse with a large age difference.

*CE/CPE Eligible: 1 CE credits are available to subscribers with these designations: CFP, CLU, ChFC and RICP. CPA subscribers will earn 1 CPE credits.


Field of Study: Specialized Knowledge

Prerequisites: There are no prerequisites for this session.

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet Based

NASBA Approved

Financial Experts Network (Sponsor Id#: 145173) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

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