In this module we will look beyond Social Security and examine other sources of income that clients use to meet financial needs during their retirement years.

For most individuals, the goal of maintaining financial independence in retirement can only be met and sustained through a number of income sources, mainly Social Security old-age benefits, employer-sponsored plans, and personal savings. Even those with generous employer-sponsored pensions must look to their own savings for 30%-50% of retirement income. Personal savings can come in many forms including IRAs, annuities, life insurance, mutual funds, and home equity. Also, an increasing number of individuals may anticipate part-time work during retirement to generate additional income. This module will help you better understand each of these income sources.

About the Author

David Mannaioni, CFP®, MPASSM is a professor at the College for Financial Planning. Utilizing his 30+ years of experience in the financial services industry, David also maintains a financial planning practice where he works with his clients in all areas of financial planning. In addition to his certifications, David holds life and health insurance licenses in several states, as well as the Series 6, Series 7, and Series 63 registrations with FINRA. You can contact David at david.mannaioni@cffp.edu.

Complexity Level: Intermediate