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Retirement Goals Results & Settings

Updated over a month ago

After your client or prospect takes a Goals-based Retirement Assessment, the next step is to view the results and make an investment recommendation with the highest probability of achieving their retirement goals all things considered.

Understanding Your Goals Assessment Results

  1. Select a client > click Assessments > click Goals > View Results:

  2. The results page will show the client how their current portfolio is tracking towards achieving their retirement goals, the required wealth to retire at the desired age, and the probability of success:

  3. The Wealth Growth chart shows how your wealth will grow over time from your current age until your desired retirement age.

  4. TIFIN Wealth will run a scenario analysis that gives the client Personalized Recommendations for increasing savings, reducing saves, adjusting your retirement age, or increasing / decreasing your risk levels in order to maximize your results.

    1. For example, you might be able to reduce your savings and invest the excess funds and still achieve your retirement goals.

    2. Conversely, you may need to adjust your retirement age to later in life in order to achieve the required wealth desired to in your retirement goal.

  5. By clicking "Optimize my portfolio's ability more!", TIFIN Wealth will pivot from using the client's current portfolio to tapping into the portfolio optimizer that recommends a model based upon their assessment drivers:

  6. Now on the Recommendations tab, we can see that the optimizer is taking into account the client's risk band + optimizing for their retirement goals as denoted by both Assessment Drivers being checked on in the top right:

    1. Additionally, we can see that the recommended portfolio has increased the odds of achieving the required wealth for retirement and increased the forecasted ending value of the client's portfolio by $140,801.

  7. Use the tabs across the top of the page to see a Summary of the recommended model, view the underlying holdings, analyze performance, and compare the current portfolio to the recommended model:

  8. Click Generate Proposal in the top right corner to review the proposal and make any adjustments to the page titles or reports included before downloading and sending to your client or prospect.

Adjusting Goals Assumptions

TIFIN Wealth makes several assumptions that go into the calculation engine that can be modified to better reflect current market conditions or sentiment towards the future.

Here are some of the TIFIN Wealth assumptions that can be adjusted in the Customize Inputs settings within the results page of a retirement journey:

  • Threshold of Success: 75%

  • Life Expectancy: 100

  • Inflation: 2.25%

  • Health Inflation: 3.25%

  • Social Security Age: 67

  • Annual Savings Growth Rate: 2.25%

  • Annual Expenses Post Retirement: 85%

Adjusting Inputs for Goals-based Recommendations

After completing a Goals Assessment, advisors have the ability to adjust a client or prospects answers to improve the likelihood of achieving ones retirement goals.

  1. To edit inputs provided by the client > Click Customize Inputs:

    1. Purple inputs have been provided by the client, orange inputs are provided by TIFIN Wealth:

    2. Examples of inputs provided by the client would be their answers to the assessment questions including:

      1. Current Age

      2. Desired Retirement Age

      3. Desired Retirement State

      4. Current Total Amount Saved

      5. Annual Savings Amount

      6. Annual Income

  2. If the client is expecting any major income events (i.e. selling a business), or expense events (i.e. buying a new home), those adjustments can be added as one-off income or expenses in the settings panel:

  3. After making any adjustments to the input settings > click “Apply Changes” at the bottom:

  4. These changes will recalibrate the recommendation engine and run through the scenario analysis using the new inputs. The Required Wealth, Odds of Achieving Your Retirement Goals and Projected Wealth outputs will all update after the settings have been adjusted and saved.

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