Broker Check

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

| June 02, 2017

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