FINC 355: Retirement and Estate Planning

FINC 355 at the University of Maryland Global Campus is a three-credit study of retirement and estate planning techniques for individuals, families and businesses. The catalog says its content is aligned with the Certified Financial Planner (CFP) curriculum.

The aim is to evaluate retirement plans, analyze the regulatory considerations and apply estate planning techniques. The retirement side covers need, investments, taxes, Social Security, Medicare, and qualified versus nonqualified and tax-advantaged plans; the estate side covers wills, trusts, asset protection and life insurance.

Students find it demanding because there are many rules and each client case combines several. The course also lists regulations relevant to the financial services industry.

What FINC 355 Covers

Key Concepts with Worked Examples

Estimating the Retirement Need

A first estimate takes the income a client wants, subtracts guaranteed sources and capitalizes the gap.

Qualified Versus Nonqualified Plans

Qualified plans meet regulatory requirements and receive tax advantages; nonqualified plans have fewer rules and different tax treatment. Explain who each suits and what the trade-offs are for employer and employee.

The Purpose of a Will and a Trust

A will directs assets at death and generally goes through probate. A trust can manage assets during life and after death and may avoid probate. Match the tool to the objective: control, privacy, tax planning or protecting beneficiaries.

Typical Assignments and How to Approach Them

UMGC's public page lists no assessments. Typical work for a CFP-aligned planning course is shown below; follow your syllabus.

Retirement Need Sensitivity

The earlier example gave a $30,000 annual gap. The need changes with the withdrawal rate assumption, as shown below.

Showing a range like this is more convincing than a single number. Then discuss which rate suits a client with a long retirement or low risk tolerance, and what you would revisit as circumstances change.

A Second Example: Choosing Between Two Retirement Plans

Imagine two clients. One has a high income now and expects a lower tax bracket in retirement. The other is early in a career and expects higher income later. The first may prefer deferring tax now, the second may prefer paying tax now on contributions that grow tax free, where the plan type allows that choice.

The reasoning is what matters: compare tax now with tax later, employer contributions, access rules and investment choices. Cite the current limits and rules from an official source, with the year.

Where the Marks Usually Come From

In a planning course aligned with a professional curriculum, accuracy of rules and clarity of reasoning carry most weight. Answers that name the correct plan type, state the rule that applies and then work the number are easy to mark and easy to defend.

Where the rule depends on a limit or threshold, name the tax year. Where a client has a choice, give the trade-off in a sentence so the reader can see you considered the alternative.

Where Students Get Stuck

• Rule overload. Group rules by plan type and keep a comparison chart.
• Dated limits. Contribution limits and thresholds change; cite the year.
• Ignoring inflation. Express needs in real terms or state the inflation assumption.
• Skipping the client's goals. Recommendations should follow objectives.

Study Tips for FINC 355

• Build a chart of plan types: eligibility, tax treatment, access, limits.
• Practice one need calculation with three different assumptions.
• Make flash cards for estate terms.
• Use official government sources for rules and cite the date.

How We Help with FINC 355

Send the case, readings and rubric. A finance writer can prepare a custom worked answer, or review your draft for logic and accuracy. See our finance assignment help guide as well.

GradeEssays is independent of the University of Maryland Global Campus. Our work is for study and is not personal retirement, tax or legal advice; submit your own work under UMGC's academic integrity policy. Orders are written from scratch, with free revisions within the scope of your original request and a full refund if late.