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What Information Do I Need From My Clients to Prepare a Retirement Plan?


 

Planning a solid retirement strategy requires a comprehensive understanding of your clients' current financial landscape and future goals. The Milestones Retirement Insights tool is designed to simplify this process, helping advisors gather and analyze crucial data for creating customized retirement income plans.



Advisors: To maximize your client's experience using the Milestones Retirement Insights tool, ensure you gather key retirement planning data. Here's a checklist:


Personal Information:

  • Year of birth, province of residence, desired retirement age, and annual employment income.

  • Sex and current retirement status.

Pension Plans:

  • Check if they have a defined benefit pension plan and its details.

  • Confirm if the pension is indexed for inflation.

Government Benefits:

  • Determine current or future Canada Pension Plan (CPP) or Quebec Pension Plan (QPP) and Old Age Security (OAS) benefits, including projected collection ages.

Registered Investments:

  • Collect market values and contribution details for Registered Retirement Savings Plans (RRSPs), Defined Contribution (DC) plans, Locked-in Retirement Accounts (LIRAs), Registered Retirement Income Funds (RRIFs), and Life Income Funds (LIFs).


Tax-Free Savings & Non-Registered Investments:

  • Obtain current market values, adjusted cost base (ACB), and annual contributions.


Corporate Investments:

  • Confirm ownership and gather adjusted cost base (ACB), market values, and income distribution details.


Retirement Withdrawals & Income:

  • Document one-time withdrawals and deposits, custom income sources, and after-tax retirement income needs.


Risk Profile:

  • Identify the client's investment risk level (Conservative, Moderate, Growth, or Aggressive).


Click below to download our fact finder:


Milestones Retirement Fact Finder
.pdf
Download PDF • 197KB

 

For more information or to clarify any questions about using the Milestones Retirement Insights tool for comprehensive retirement planning, reach out to us at info@milestones-retirement.com. Our team is ready to help you leverage the full potential of our fact finder and optimize your clients' retirement plans.


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