Devesh seeks to increase his net after tax cash flow for the first decade of retirement, commencing this year. Given that he has no pension, Social Security benefits of $2,250 per month, $1,250,000 in his IRA, an appreciated stock portfolio of $1.5 million ($500,000 basis), $300,000 in savings, and a home with no mortgage worth $425,000 and is widowed with one grown child who is independently successful.

The Certified Financial Planner (CFP) certification exam tests your ability to apply financial planning skills and techniques to real-life situations. Topics on the CFP test include: financial planning process and principles, tax planning, income and retirement planning, estate planning, risk management and insurance, investment planning, tax planning, retirement savings and income planning, estate planning and psychology of financial planning. The exam is 170 questions (multiple choice, short scenario and case study) and is three hours long.