A client comes to you who needs help developing a plan for retirement and doesn’t have...

A client comes to you who needs help developing a plan for retirement and doesn’t have a current budget and hasn’t tracked expenses before. What would you tell your client he should do in order to get ready for your next meeting and how these action items are relevant to retirement planning

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ANSWER DOWN BELOW. FEEL FREE TO ASK ANY DOUBTS. THUMBS UP PLEASE.

Before planning for retirement it is essential to know one's income and expenses. It is advisable to tell the client to keep track of income and expenses for creating income statement and budgets.

It helps to determine the type of retirement the client can plan.

When planning for retirement. The first step in the process is to imagine the type of retirement life the client want to have & have a vision for it i.e Define his retirement.

Then calculate the client net worth today, then determine that if the client can afford it?

The client should do to get ready for the next meeting are:

1. to keep track of income and expenses for creating income statement and budgets.

2. Define his retirement life and amount required during retirement.

3. Determine his net worth.

jeff jeffy answered 2 years ago

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