Course Overview

Description: Conventional financial planning software relies on rules of thumb to guesstimate your spending, or income needs, in retirement. This can lead to inaccurate recommendations around spending, saving, insurance and investments now and in retirement. In contrast, economics-based planning relies on facts and common sense to produce sensible recommendations throughout your life-cycle. It does so by utilizing your lifetime balance sheet and the concept that people prefer to maintain a smooth standard of living throughout their lives. Rather than forcing you to guess, this framework enables you to solve for how much you can afford to spend, and therefore need to save, now and throughout retirement. About the instructor: Jay Abolofia is a Certified Financial Planner™ professional and a PhD in Economics. He is a member of the National Association of Personal Financial Advisors, and is the founder of Lyon Financial Planning, an independent fee-only advisory firm based outside of Boston, MA. Prior to launching his own firm, Jay worked as an advisor and financial planning scientist at a fee-only RIA and as an associate at a prestigious economic consultancy firm.

Learning Objectives/Outcomes:  After taking this course, participants will be able to: 

  1. Take the guesswork out of retirement planning by using facts and data to produce sensible recommendations. 
  2. Use economics-based planning (utilizing the lifetime balance sheet) as a framework to solve for how your clients should save and spend now until retirement.

Instructor: Jay Abolofia

Principle Knowledge Topic: Retirement Savings and Income Planning

Credits: 1