Chapter 14 recognize the importance of retirement planning, and identify the three biggest pitfalls to good planning; estimate your income needs in retirement and the level of retirement income you’ve estimated from various sources; explain the eligibility requirements and benefits of the Social Security program;. | PFIN 4 Planning for Retirement 14 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. GITMAN/ JOEHNK/ BILLINGSLEY Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Recognize the importance of retirement planning, and identify the three biggest pitfalls to good planning Estimate your income needs in retirement and the level of retirement income you’ve estimated from various sources Explain the eligibility requirements and benefits of the Social Security program LEARNING OUTCOMES PFIN4 | CH14 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Differentiate among the types of basic and supplemental employer-sponsored pension plans Describe the . | PFIN 4 Planning for Retirement 14 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. GITMAN/ JOEHNK/ BILLINGSLEY Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Recognize the importance of retirement planning, and identify the three biggest pitfalls to good planning Estimate your income needs in retirement and the level of retirement income you’ve estimated from various sources Explain the eligibility requirements and benefits of the Social Security program LEARNING OUTCOMES PFIN4 | CH14 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Differentiate among the types of basic and supplemental employer-sponsored pension plans Describe the various types of self-directed retirement plans Choose the right type of annuity for your retirement plan LEARNING OUTCOMES (continued) PFIN4 | CH14 Steps in Retirement Planning Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Describe: Things a person wants to do in retirement Standard of living that is hoped to be maintained Level of income wished to receive Retirement goals PFIN4 | CH14 Role of Retirement Planning Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Formulating an investment program Creating a savings plan in which a certain amount of money is saved each year Identifying the investment vehicles that will meet the retirement needs Tax planning Maximizes the accumulation of retirement funds PFIN4 | CH14 Pitfalls in Retirement .
