Broker Check

Complete and accurate data is critical to a fiduciary-level financial planning process

| June 02, 2017
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Values and Goals
(If planning to retire "joint," each please answer separately)

What are your three top financial goals?

What's important to you about money?

If we were sitting here 3 years from today, what would have to have happened for you to be happy with your progress?  Financial? Non-financial?

Growing up, what did your parents / teachers / loved ones teach you about money? What are you teaching your children?

Excluding work, family (and sleep) how do you spend your time (2 or 3 top activities?) How would you like to (if different?) How might that change in retirement? 

What are your questions about a financial planning process that follows the fiduciary standard?  Have you ever been through it before?


Work Income

Base salary / average annual income? How many more years? What percentage annual increase? Bonus?

Other Income

Social Security - Pension - Alimony - Business income - Real Estate income - Annuity income - Trust income - Deferred Comp - etc. 


Current monthly / annual living expenses

Mortgage - rent - taxes - food - entertainment - personal care - all repetitive expenses.  I don't need a breakdown of these expenses.  Just a total.  But a reminder list is available if you want one.

Non-recurring / one-time expenses.

Remodeling - new roof - weddings - etc.

Estimated Retirement Expenses

What expenses disappear?  What expenses are added - travel especially.


Primary residence

FMV - mortgage owed - number of years - interest rate - monthly payments - property taxes - ownership type (joint, individual, trust)

When might you sell your current home? Will you move locally or long distance?

Other real estate

FMV - mortgage owed - number of years - interest rate - monthly payments - property taxes - ownership -  type (joint, individual, trust) - real estate income


type - ownership -amount -timing - guarantees - statement - contract


Qualified Retirement

IRA - balance - future contributions - owner - traditional and / or Roth - 401(k) - 403(b) - other qualified - need statements all numbered pages

Pension - all details - amount - start date - beneficiary - spousal election choices or already made - COLA  - Beneficiary Designation Forms

NQ - Taxable investments

Amounts - Owner - Future contributions - need statements all numbered pages


Credit Cards - Student Loans - Parent Loans - Other liabilities and debts - statements - schedules - monthly payments


Life insurance - Disability income insurance - Long-Term Care insurance - Umbrella / other property & casualty insurance - statements - contracts - payments - Beneficiary Designation Forms


Marriage certificate - Pre-Nup - Post-Nup - Divorce Decree - Insurance on an Ex - Alimony


Form 1040 - All schedules - Property Tax - State income tax - Gift tax  - Business taxes


Balance Sheet - Profit & Loss - Shareholders' Agreement - Stock Options - Other future compensation

Estate Planning

Wills - Trusts - Powers of Attorney - Durable - Health Care - Living Will

What does your will do (in your own plain English?) 

What does your trust do (in your own plain English?)

What is your confidence level that your children / grandchildren / other heirs can competently manage their inheritance?r 

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