RICP study plan

Outline the full retirement income planning process from data gathering through plan monitoring and identify the decision made at each step

Calculate pre-retirement and post-retirement income replacement ratios for three client profiles with different income levels

Compare the major categories of retirement income (government benefits, employer plans, personal savings, continued employment) by tax treatment, certainty, and inflation protection

Define the core retirement income risks: longevity, inflation, sequence of returns, health care, and cognitive decline

Model three withdrawal strategies (systematic percentage, bucket, and guardrail/dynamic) in a spreadsheet for a $750,000 portfolio

Demonstrate sequence-of-returns risk by running an identical average return in two different orders and comparing ending balances

Quantify the funding gap between level withdrawals and inflation-adjusted withdrawals over a 25-year retirement

Draft a written recommendation for a hypothetical client choosing between a static 4% withdrawal rate and a dynamic spending rule

Compute a client's Social Security primary insurance amount and estimate the benefit at ages 62, full retirement age, and 70

Differentiate the Social Security benefit taxation thresholds, the provisional income calculation, and the earnings test

Compare defined benefit payout options and defined contribution distribution choices, including lump sum versus annuity

Distinguish traditional, Roth, and rollover IRA rules for contributions, deductibility, and qualified withdrawals

Classify annuity products (immediate, deferred, fixed, indexed, variable) by income guarantee, fee structure, and suitability

Explain qualified and nonqualified distribution requirements, early withdrawal penalties, and the major penalty exceptions

Identify which income sources are subject to required minimum distributions and compute a first-year RMD

Select an appropriate income product for three fact patterns and justify each selection in writing

Build a monitoring calendar specifying review frequency, tracked metrics such as funded ratio and withdrawal rate, and trigger events for plan revision

Assess a sample portfolio's rebalancing policy and asset location strategy for tax efficiency

Outline Medicare enrollment windows, Parts A, B, and D, and the income-related premium surcharge mechanics

Evaluate long-term care funding alternatives and their effect on the sustainability of the income plan

Analyze health, longevity, and cognitive-decline risks and match each to a specific mitigation strategy

Apply fiduciary and ethical standards to three retirement income practice scenarios involving conflicts of interest

Summarize estate and legacy elements that interact with the income plan: beneficiary designations, account titling, and trust coordination

Evaluate tax planning levers including Roth conversions, capital gains harvesting, and qualified charitable distributions

Complete a full-length 100-question timed practice exam under simulated exam conditions

Categorize every missed question by domain and by root cause (knowledge gap, misread, calculation error)

Re-teach the three weakest subtopics using primary study materials and write a summary sheet for each

Rebuild flashcards for every formula-driven question type: replacement ratio, RMD, funded ratio, and benefit taxation

Re-drill every flagged weak area with two 30-question targeted quizzes, scoring 85% or better on each

Recite all key formulas and decision rules from memory without reference notes

Simulate exam-day pacing, including timing checkpoints at the one-third and two-thirds marks, and confirm testing logistics

Complete a final 50-question mixed review across all three domains at 85% or better