Retirement Planning

Course Code: FIN 5003

Academic Year: 2022-2023

Supporting client efforts to achieve a desired retirement lifestyle involves understanding the reality of retirement in the present economy and recommending tactics and financial products to convert assets to income, minimize taxes and manage financial risks associated with retirement. Through integrating the elements of goal and objective setting and the implications of different types of retirement savings relative to the tax consequences, students evaluate different retirement planning strategies. Students assess the advantages and limitations of employer-sponsored pension plans, such as Registered Pension Plans (RPPs), Registered Retirement Savings Plans (RRSPs), Locked-In RRSPs, and Deferred Profit Sharing Plans (DPSPs) and critique various vehicles that provide retirement income, including Registered Retirement Income Funds (RRIFs), Life Income Funds (LIFs), Locked-In Retirement Income Funds (LRIFs), annuities, reverse mortgages and Retirement Compensation Arrangements (RCAs).