The Retirement Planning Questionnaire

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When you sit down with a financial advisor, you will first be given a retirement planning questionnaire. This retirement planning questionnaire will determine how good you are at putting money away. It will examine your spending habits, what your spend your money on and it will determine how much you have to put aside each month. Once you get done with the financial planning questionnaire, your financial advisor will then be prepared to design a plan for you so that you can finally plan for retirement. This plan will ensure you have money put away to enjoy yourself once you actually do retire, which is the main point of visiting a financial advisor in the first place.

Spending Habits

The retirement planning questionnaire will first determine your spending habits. You might be asked questions such as, “How many days a week do you eat out at restaurants?” Or, “How many days a week do you go shopping for things other than food?” These questions are designed to see how well you save your money. If you have a hundred dollars left over from your paycheck each month and you’re constantly eating out, you may need to cut back your lifestyle a little bit so that you can actually put money away. This part of the retirement planning questionnaire will enable the advisor to see what kind of lifestyle you lead.

Saving Habits

The retirement planning questionnaire will also determine how good you are at saving. It might ask you how much money you save each month, or what percent of your paycheck you plan to save now that you are actually planning for retirement. If you don’t save any money, the questionnaire will determine that fact and the advisor can plan accordingly. Make sure you answer honestly or else this exercise will won’t do much good.

Designing A Plan

The financial advisor will tally up the results of your financial planning questionnaire and will then design a plan just for you. This plan will include tailoring your lifestyle around saving, it will tell you how much you should put away each month and it will show you how much you can potentially save if you stick to the plan. By seeing what results you could have, you can often be motivated to stick with it. It’s hard at first but as you get used to it, the money will begin piling up. That’s when it will all seem worthwhile and that’s why many advisors swear by the retirement planning questionnaire when it comes to designing a plan just for you.


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