MARCH 2025: Retirement Planning
COVER STORY
Planning Strategies After the Social Security Fairness Act
By Randy Gardner, J.D., LL.M., CPA, RLP, CFP®, AEP (Distinguished); Julie Welch, CPA/PFS, CFP®, AEP (Distinguished); and Creyton Vincent
The act eliminates two provisions that previously reduced benefits for certain workers. Some of your clients may now be entitled to higher Social Security payments, as well as retroactive benefits from 2024.
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PRACTICE MANAGEMENT
Efficient Hiring with Case Studies
By Peter Parlapiano, AEP, EA, CFP®, ChFC
Hiring is an expensive and laborious responsibility for firm owners. Implementing case studies in the interview process can help find the right people for the right roles.
FPA NEXT GENERATION PLANNER
Forward Thinking
Flexing the Communication Muscle
By Blake Pinyan, CFP®, EA
Lead Article
Unlocking Client Loyalty: Effective Communication for Financial Advisers
By Kristine McManus
Planner Poll
The FPA Community Weighs in on Communicating Difficult Topics
Planning a STUDY GROUP? Check out suggested questions and other resources to make your study group a success!
COLUMNS
Women in Retirement
Selecting the Right Retirement Community
By Alexandra Armstrong, CFP®
Choosing a retirement community is a financial and emotional decision. Here are some questions that can help you determine whether a facility will meet your client’s needs.
Tax Planning
Team Building to Ease Tax Season Burdens
By Claire Thornton, CFP®, EA
Spread too thin this tax season? Hiring new planners or training existing staff can help relieve pressure.
Digital Assets
Decoding the Many Myths of Bitcoin
By Ivory Johnson, CFP®, ChFC
After more than a decade, investors and legislators still don’t fully understand bitcoin. While it may not be suitable for all investors, misinformation makes it harder to identify opportunities.
RESEARCH
An Exploratory Study of the Wealthy’s Investment Beliefs, Preferences, and Behaviors
By Matthew Sommer, Ph.D., CFA, CFP®, and Sonya Lutter, Ph.D., CFP®
Using primary data collected from an online survey in 2023, this study explored the investment beliefs, preferences, and behaviors of wealthy individuals. A multivariate analysis was conducted, yielding some surprising results about how high-net-worth and affluent clients feel differently regarding portfolio construction, financial literacy, and more.
Earn one CFP CE® credit by reading this month's Journal and access past exams for additional credits.
DEPARTMENTS
STARTING THOUGHTS
A Legacy of Planning
By Danielle Andrus
VOICE
Remembering Patrick D. Mahoney
OBSERVER
Healthcare Costs Lead Planners’ Concerns About Clients’ Retirement Security
JFP ACADEMICS
Upcoming Research
IN CASE YOU MISSED IT
Navigating Client Engagement: Considering Client Knowledge and Willingness
By Oliver Schnusenberg, Ph.D., CFP®, CFT, BFA
This paper introduces the initiative pathway model to classify clients into four zones based on their understanding and readiness to implement your recommendations, providing a framework to identify when a client needs the support of financial therapy in addition to financial planning.
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