Broker Check


Many plan sponsors struggle with providing resources for participants to help them determine their retirement readiness. Participants will have many questions and need many answers, including deciding when they want to retire, when they can retire, how much money they will need, how much they have yet to save, and how they are going to spend their money when they retire.  Plan sponsors can provide education and a few tools to participants to help them find these answers.

One useful tool a plan sponsor can offer participants is a checklist to prepare for meeting with their financial advisor.  Providing the following information can help the advisor understand the employee’s current financial picture as well as their goals for their financial future:

  • Salary (e.g., recent check stub)
  • Mortgage statements
  • Pension plan information
  • Social Security estimates
  • All household savings and investments
  • Any other information regarding financial events or situations (e.g., major purchases, remodeling, college savings/funding, travel plans, elder care)
  • Health and/or Long-Term Care insurance information
  • Estimated living expenses in retirement
  • Other retirement income expectations
  • Risk Tolerance Questionnaire/Assessment

As you can see, there are many aspects to helping participants determine their retirement readiness.  Those who come prepared with the above information to a meeting with their advisor will be in a better position to determine their retirement readiness and get on the path to saving for their financial future.


 Last reviewed 6/1/2022

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