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Needs Analysis Modules

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Retirement Planning

This module provides a detailed approach to retirement planning. The analysis takes into account existing savings plans and future fixed income receipts such as Social Security, rental income and employer pensions. Further, you can generate "what-if" scenarios with or without Social Security, differing the investment returns and inflation, and whether or not you wish to leave a legacy to heirs or deplete the principal. The result pages will recommend any additional taxable or tax-deferred savings that will be needed to meet the stated retirement goal.

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adv01: Retirement Planning Module

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College Planning

The comprehensive college module takes into account individual education funding goals. Recommendations will look at both taxable savings accounts and tax-deferred savings options such as 529 plans. Year-by-year detail is provided to help illustrate the calculations.

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adv02: College Planning Module

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Survivor Life Insurance Needs

The survivor needs analysis module accommodates staggered insurance needs such as one income replacement goal when the children are at home and another when the surviving spouse is alone in receipt of Social Security benefits. Upon the death of a spouse, there are typically immediate cash needs such as funeral, debt retirement, and medical expenses followed by long-term income replacement needs. Consideration is also given to existing resources such as investments, cash accounts, and current life insurance. It also allows for adjustments to surviving spouse income to reflect the need to go back to work or cut back on work to take care of family members.

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adv03: Survivor Life Insurance Needs Module

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Long-term Care

The long-term care module calculates the potential income shortfall that may occur due to extended care in a nursing home or assisted living facility. One may self-insure for that event but it may result in accelerated depletion of assets and net worth as compared to pre-funding the shortfall via insurance. The analysis addresses both client and spouse potential long-term care needs.

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adv04: Long-term Care Module

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Disability Income Needs

The loss of income due to a disability can compromise a family's standard of living. The disability module will examine the economic impact that may occur to the family if either the client or spouse were to become disabled. Consideration is given to available resources such as investment income, pensions, Social Security, any existing disability policies, and other income. The module addresses disability insurance as a cost effective way of addressing this potential risk.

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adv05: Disability Income Needs Module

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