Personalized Life Planning

Social Security Optimization

  • Have you checked your monthly benefit amount at full retirement age?
  • Do you know your full retirement age?
  • Have you completed an analysis to determine the optimal time to take Social Security?
  • Will you be impacted by the Windfall Elimination Provision (WEP) or Government Pension Offset (GPO)?
  • Do you know how to apply for Social Security benefits?

Retirement Distribution

  • Have you created a retirement plan and run it against scenarios to ensure you will not run out of money during retirement?
  • Are you currently following the steps that plan requires?
  • Have you made plans to create an "income stream" in retirement?
  • Do you have a tax-optimized distribution strategy?

Budget Planning

  • Do you have a budget that works for you?
  • Do you know your credit score?
  • Are you saving 10% or the amount required to reach your financial goals?
  • Do you have three to six months of living expenses saved?
  • Do you review your budget regularly?
  • In the past six months, have you looked at your budget for ways to reduce spending?

Employer-Sponsored Retirement Plan

  • Do you contribute to a defined contribution plan (IRA, 401(k), 403(b), etc.)?
  • Do you know the maximum allowed contribution and are you making it?
  • Are you contributing enough to get 100% of any company match?
  • Are your investments (asset allocation) aligned with your risk tolerance?
  • Do you review your investments/plan at least two times per year?

Life Insurance

  • Will there be an income gap for your family if there is an unexpected death?
  • Do you have life insurance?
  • If you have life insurance, is it the right policy?
  • Do you know how much life insurance you need?
  • Do you know the key factors of how to select the best insurance?
  • Do you review your life insurance policy annually?

Long-Term Care

  • Do you have long-term care insurance?
  • Do you have a family history of health issues?
  • If care is required, do you have a plan?
  • Does your current portfolio support the cost of care?
  • Do you know the "right" time to buy long-term care?
  • Do you know where and how to purchase a long-term care policy?

Health Care

  • Are your healthcare costs in retirement currently part of your financial plan?
  • Do you know when and how to enroll in Medicare?
  • Do you understand the different Medicare Supplemental Insurance coverage options ( Medigap vs. Medicare Advantage)?
  • Do you know how much supplemental insurance coverage will cost you in retirement?
  • Have you estimated your out-of-pocket medical expenses in retirement?

Tax Optimization

  • Are your taxable accounts managed in a tax-optimized way (e.g., tax-efficient selling)?
  • Are you making contributions to an employer-sponsored retirement plan or IRA?
  • Have you considered making Roth IRA contributions to reduce future tax liability?
  • Are you minimizing your tax liabilities through charitable donations, a mortgage or other strategies?

Estate Planning

  • Have you determined who should get what you own when you die?
  • Have you determined who should be in charge when you can't make your own decisions?
  • Do you have minor children? If so, have you determined who should care for them when you can't?
  • Have you legally documented these decisions?
  • Have you updated your estate plan and asset titles in the last two years?
  • Do your beneficiaries and the people you've nominated to be in charge know what to do if something happens to you?

Education and College Planning

  • Do you plan to help pay for your kids' or grandkids' college?
  • Do you know how much they will need?
  • Have you started saving for their education?
  • Have you shared your plans with your children?
  • Have you explored financial aid or scholarship