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LEARNING RESOURCE

Retirement Planning Certificate Program
life situation where accepting responsibility for their
Designed for practitioners who want a thorough health care management and decisions would be
understanding of retirement planning, the AICPA’s least disruptive.
Retirement Planning Certificate Program is a series
of courses covering the retirement planning life While a qualified estate planning attorney
cycle, including planning for aging and chronically should be the professional who handles estate plan-
ill clients. ning changes, a CPA may be in a better position to
discuss who would be the best choice for powers of
CPE SELF-STUDY
attorney due to years of familiarity with a client.
For more information or to make a purchase, go to aicpa.org/cpe-learning ONE FINAL THOUGHT
or call the Institute at 888-777-7077.
The landscape of retirement has changed in recent
decades, and many people continue to work in their
golden years, either by choice or for the income.
When the pandemic hit in 2020, an estimated 2.4
million Americans retired earlier than planned, but
AICPA RESOURCES now, presumably due to inflation combined with
a serious labor and skills shortage, a higher-than-
Articles average number of people are “unretiring,” accord-
“Building a Tax-Efficient Retirement Income Plan for Clients,” JofA, May ing to job placement site Indeed.
12, 2022
When helping clients make the shift to retire-
“Talk About More Than Money When Readying Clients for Retirement,” ment, consider discussing a Plan B that includes
JofA, Sept. 2020 some type of return to work, whether that means
returning to a previous employer or engaging in
Podcast episodes
freelance or consulting opportunities. This may be
“Transitioning to Retirement and the 4% Rule,” AICPA.org, May 20, 2022 project- or hourly-based consulting or even filling
labor gaps by performing lower-level tasks that can
“Taxes and Financing Retirement Healthcare,” AICPA.org, Sept. 27, 2019
be done remotely and easily. This would allow a
PFP Section resources (for members) retiree to earn some extra spending money without
the same level of stress that comes from working in
PFP Tax Bracket Management Chart
more demanding or high-powered roles.
Guide to Retirement & Elder Planning: Healthcare Coverage Planning, 6th Ed. For clients retiring from industries that are
more reliant on employees who are on-site, such
Tax-Efficient Draw Down Strategies
as manufacturing or retail, the conversation may
center less on returning to the floor in the same
capacity as pre-retirement and more on making
their job knowledge available to newer employees.
PFP member section and PFS credential They should be sure to leave room for negotiation

Membership in the Personal Financial Planning (PFP) Section provides around hours worked, supplemental health care
access to specialized resources in the area of personal financial plan- benefits, or larger blocks of time away than are
ning, including complimentary access to Broadridge Advisor. Visit the typically allowed with a full-time role.
PFP resource page. Members with a specialization in personal financial Note that a decision to return to work or engage
planning may be interested in applying for the Personal Financial Specialist in other earning opportunities will affect the
(PFS) credential. conversations around the spending and tax shifts.
You don’t have to become an expert in personal
financial planning topics to effectively guide your
clients toward a successful transition to retirement,
When it comes to a medical power of attorney, although the more knowledge and expertise you
a spouse can serve this role initially, but it may be have the better. By helping them shift their think-
wise to add a secondary party to account for times ing in the ways discussed above, and referring them
when both spouses may need health care assistance. to other professionals to assist with implementation
Most estate planning attorneys suggest giving just when necessary, you can maintain and enhance your
one person a power of attorney, so encourage clients role as the trusted adviser while also diversifying
to think carefully about who in their circle is in a your expertise. ■

26 | Journal of Accountancy September 2022