Mapping Your Financial Future...Mapping Your Financial Future . Preparing for your financial future involves following a disciplined process that involves identifying your goals and

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Mapping Your Financial Future

Preparing for your financial future involves following a disciplined process that involves identifying your goals and exploring financial strategies.

These six steps will help you map your financial future:

1. Discovery – Identify and prioritize your financial goals2. Data Gathering – Collect facts and figures based on your current situation3. Analyze – Input data and run calculations and identify shortfalls4. Recommend – Propose a financial strategy designed to satisfy your goals5. Implement – Choose a financial strategy and implement6. Periodic Review – Review regularly to measure success and make adjustments

The purpose of this questionnaire is to help gather data as part of steps one and two. By taking the time to prepare now, you may be able to lay out a path for your financial future.

What concerns you the most? There are a number of different areas to consider when preparing for your financial future. Start now by identifying your financial goals.

Which of the following areas are important to you? Complete these sections

Needs in the Event of DeathExamine the financial impact of death, including immediate cash needs and continuing income needs.

1, 2, 5, 6, 7

College Funding Find out the cost of education and alternative funding methods. 1, 3

Retirement Assess how your current retirement strategy will meet your objective. 1, 4, 5, 6, 7

Asset Allocation Examine your current asset allocation strategy in relation to your risk tolerance.

1, 5, 6 (plus the asset allocation

questionnaire)

Disability Income Assess the financial effect of a disability on your income. 1, 8

Long-Term Care Evaluate the impact that long-term care costs can have on your financial future. 1, 9

Client A Name (please print) Client B Name (please print) Date

This form may be printed by licensed users of Profiles Forecaster software for personal and client use. Reproduction for redistribution purposes is not permitted without the prior approval of Advicent Solutions, Inc. © Copyright 2019 Advicent Solutions LP and its affiliated companies (Advicent Solutions). All rights reserved. Advicent Solutions™, and Profiles™ are trademarks of Advicent Solutions.


Section 1 - Personal Information

Marital Status Single Married Domestic Partner

Client A Client B

First Name

Middle Name

Last Name

Date of Birth

Address

City State Zip

Phone E-mail

Employment Information Client A Client B

Employer

Occupation

Phone

For Discussion • Describe your current job?• How long have you been working

there?• What are your career plans?

Dependent Information Child’s Name Date of Birth Child’s Name Date of Birth

For Discussion • Do any of your dependents have

special needs?• Do you plan on having additional

children?• Are there others that financially

depend on you (e.g., parents,grandchildren)?

• Do any of your family members live inthis area?

This form may be printed by licensed users of Profiles Forecaster software for personal and client use. Reproduction for redistribution purposes is not permitted without the prior approval of Advicent Solutions, Inc. © Copyright 2019 Advicent Solutions LP and its affiliated companies (Advicent Solutions). All rights reserved.

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Section 2 - Survivor Needs

The death of a wage earner can have a significant impact on household income. Financial experts recommend that every strategy include an analysis of needs in the event of a death. Survivor Income Needs With children at home Without children at home In the event of death, what income (percent or dollar/mo.) should be provided for your family’s continuing needs? % or $ % or $

What age should Survivor’s Social Security Retirement benefits begin?

Provided income for how long? years or Lifetime

In the event of death, should your children’s education be funded? (If yes, also complete Section 3.) Yes NoCurrent Life Insurance Name of Insured Insurance Benefit Insurance Company Annual Premium Type*

$ $ $ $ $ $ $ $

*Insurance types include: Group, Term, Whole Life, Universal Life, and Other

For Discussion • What do you want your life insurance to do for you?• When did you buy your last policy? From whom?• Does your family have any special interests or health

conditions that could affect your insurance planning?

Section 3 - College Funding

Many people want to help fund education costs for their children. The sooner you begin to develop a strategy for education savings, the more time your money will have to accumulate.

Average College Cost 2018 – 2019Public College $21,370 Private College $48,520

Source: Annual Survey of Colleges 2018. Copyright © 2018 The College Board. This material may not be copied, published, rewritten or redistributed without permission.

Child’s Name School College Cost

Search * OR Amount Neededper year

Years to Attend

Percent to provide

Yes $ yrs %

Yes $ yrs %

Yes $ yrs %

Yes $ yrs %

Yes $ yrs % * Include in college costs: Tuition (in-state); Tuition (Out-of-state); Room only; Room & Board; Books & Supplies

Current Savings Enter any savings already accumulated for your children’s education.

Total saved to date Monthly Savings Average Rate of Return $ $ %

For Discussion • Would you like them to go to the

college of their choice?• How do you feel about your college

funding program?


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Section 4 - Retirement

Many people underestimate the amount of money they will need in retirement. Begin saving for your retirement income as soon as possible.

Client A Client B At what age do you plan to retire? At what age will you begin to collect Social Security?

Indicate your retirement need as either a percent of current income or a dollar amount for up to three phases. Percentage of current income (e.g., 80%) Monthly need (in today’s dollars)

% Phase 1 starts at retirement $ Phase 2 starts at age $ Phase 3 starts at age $

For Discussion • Does your employer offer a retirement plan?• Are you contributing the maximum?

Section 5 - Earnings and Assets

Enter your annual employment income in this section. Include income received from employers as well as self-employment income. All other sources of income should be entered in the Other Income/Expenses section. Earnings Client A Client B

Annual Employment Income $ $

Do you contribute to Social Security? Yes No Yes No

Assets and Liabilities In this section include your residence, personal property, real estate, and business assets. Do not include any retirement or investment assets, those will be included in Section 6. Personal Residence

Rent - Monthly Rent $

Own - Mortgage Balance $ Details for Mortgage Name Market Value Mortgage Balance Monthly Payment Interest Rate

$ $ $ %

Credit Cards and Personal Loan $ total or use details below Details for Credit Cards and Personal Loans Name Amount Monthly Payment Final Payment Date Interest Rate

$ $ % $ $ % $ $ % $ $ %

Additional Asset and Liabilities Details Type* Name Market Value Current Liability

$ $ $ $ $ $

*Types include: Personal Property, Real Estate and Business


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Section 6 - Savings and Investments

Please provide information regarding retirement plans you may have. Include IRAs, Roth IRAs, SEP IRAs, SIMPLE IRAs, 401(k)s (including any employer match), 403(b)s, Profit Sharing Plans, 457 plans, variable annuities, etc. Retirement Funds For this section either enter total amounts or details

Total Amount Total Monthly Savings Average Rate of Return

$ $ %

Details for Retirement Funds (attach statement or complete section below)

Owner Account

Name Asset Name Amount Rate of Return

Monthly Savings

Company Match

Savings Increase

$ % $ $ %

$ % $ $ %

$ % $ $ %

$ % $ $ %

$ % $ $ %

$ % $ $ %

$ % $ $ %

Bank Accounts and Investments For this section either enter total amounts or details

Total Amount Total Monthly Savings Average Rate of Return

$ $ %

Details for Bank Accounts and Investments (attach statement or complete section below)

Owner Account Name Asset Name Amount Rate of Return

Monthly Savings

Savings Increase

$ % $ %

$ % $ %

$ % $ %

$ % $ %

$ % $ %

$ % $ %

$ % $ %

For Discussion • What is the best investment you’ve

made?• What is the worst investment you’ve

made?• How do you feel about your investments?• What percentage of your income should

be saved?


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Section 7 - Other Income and Expenses

Other Income Enter other income sources that you currently receive or expect to receive in the future. Be sure to include alimony, child support, defined benefit pension plans, fixed annuities, part-time income during retirement, expected inheritance, etc.

Type 1 Name Recipient Amount 2 Present or

Future Value Annual

Increase Begin

When? End

When? Income

Applies to

Client A Client B $

Present Future %

Today Retirement Year _____

Retirement Death Year _____

Retirement Survivor A Dies Survivor B Dies

Client A Client B $

Present Future %




Client A Client B $

Present Future %




Client A Client B $

Present Future %




Client A Client B $

Present Future %




Client A Client B $

Present Future %




1 Other Income, Social Security or Lump-Sum 2 All amounts are monthly amounts except a Lump Sum, which is a single payment.

Expenses Enter the living expenses to be listed in the cash flow reports. If monthly savings and liabilities have been included in Sections 5 and 6, then do not include those expenses here.

Expense Name Monthly Amount Annual Amount

$ $

$ $

$ $

$ $

$ $

$ $

$ $

$ $

$ $

$ $

$ $

$ $

For Discussion • Do you have a cash flow strategy?• What changes could be made to

your current budget?


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Section 8 - Disability Income

Disability Income Needs Client A Client B

Annual Employment Income $ $

Income Replacement Objective % of above % of above

Current Long-Term Disability Insurance Client A Client B

Monthly Benefit $ $ totals or use details below

Disability Insurance Details Name

of Insured Insurance Company

Monthly Benefit

Group or Personal

Annual Premium

Waiting Period 1

Benefit Period 2

$ $

$ $

$ $

$ $

1 Waiting Period options: 1 month, 2 months, 3 months, 6 months or 12 months. 2 Benefit Period options 3 months, 6 months, 1 year, 2 years, 3 years, 4 years, 5 years, to age 65, or Lifetime.

For Discussion • What does your current

disability plan provide?• How do you feel about your

current plan?

Section 9 - Long-Term Care

Long-term care expenses can have a tremendous impact on a family’s financial security. Having sufficient insurance coverage can help assure there is enough money for adequate care.

Estimated monthly long-term care costs (in today’s dollars): $

Existing Long-Term Care Coverage

Name of Insured Insurance Company

Daily Benefit

Annual Premium

Elimination Period (Days)

Benefit Period (Years)

$ $

$ $

$ $

$ $

For Discussion • Has anyone in your family

experienced a long-term care need?• Do you need to replace your income

if you are unable to work?• Will you be caring for elderly parents

in the future?


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Who Could Benefit from an Analysis?

Name Employer

Address

City State Zip

E-mail Home # Work #

Name Employer

Address

City State Zip


Name Employer

Address

City State Zip


Notes

Declaration

I declare that I have reviewed the information collected in this data sheet and that it is correct to the best of my knowledge.

Client A Printed Name Signature Date

Client B Printed Name Signature Date


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Documents

Mapping Your Financial Future...Mapping Your Financial Future . Preparing for your financial future involves following a disciplined process that involves identifying your goals and