Rethinking Retirement Spending Advice + Tax Optimization for Pre-Retirees & Retirees

This is a special two hour CE-eligible session, featuring Justin Fitzpatrick, PhD, CFA, CFP, Co-founder of IncomeLab.

HOUR 1: Rethinking Retirement Spending Advice

“Probability of Success” is everywhere in financial planning, even though many planners acknowledge its flaws. We'll break down what the metric actually means mathematically, psychologically, and practically, and how it can distort and harm a plan and the advisor-client relationship. We'll introduce alternative ways of using simulation-based planning (like Monte Carlo simulation) without Probability of Success to produce more realistic plans, clearer communication, and better client understanding and confidence.

Learning Objectives:

• Explain what 'Probability of Success' actually means mathematically and what sorts of outcomes it privileges
• Discuss how clients perceive and understand risk depending on the way a plan is presented and discussed
• Understand other ways to think and talk about plans using frameworks like 'overspending/underspending'

HOUR 2: Tax Optimization for Pre-Retirees & Retirees.

Explore how to deliver value through tax optimization to retirees and pre-retirees, including how to evaluate Roth conversion opportunities, manage Medicare IRMAA thresholds, optimize Social Security claiming with taxation in mind, and much more. Attendees will learn how coordinated planning across tax brackets, income sources, and benefit rules can support more efficient, confident retirement outcomes.

Learning Objectives:

• Identify key retirement tax planning opportunities, including Roth conversions, tax bracket management, and the coordination of taxable, tax-deferred, and tax-free income sources.
• Evaluate how Roth conversion strategies may affect Medicare IRMAA thresholds, Social Security taxation, required minimum distributions, and long-term retirement income efficiency.
• Analyze client-specific tradeoffs involved in Social Security claiming, income sequencing, and tax optimization to support more informed retirement planning recommendations.