Envision Priority Cards

Transcription

1 Envision Priority Cards

2 How to use these life goal cards Consider the information on each card. Feel free to remove cards that aren t applicable to your situation or circumstances. Rank the cards in order of their priority to you. If applicable, have your spouse or partner rank them separately. Then discuss your rankings and work toward a single ranking of priorities. Discuss the results with your Financial Advisor this is the first step in a process to gain confidence in achieving your life goals.

3 Retirement age

4 Envision priority clarifiers What does retirement mean to you? Is it stopping work altogether, or do you plan to do something else that may produce income? How will you spend your time differently in retirement? Which of your current activities do you value most?

5 Retirement income

6 Envision priority clarifiers How satisfied are you with your current standard of living? How do you see your income needs and expenses changing in retirement? How have you prepared for unexpected expenses?

7 Dreams and major purchases

8 Envision priority clarifiers Where do you see yourself living in retirement? What special things do you see yourself doing in retirement? What do you most want to do that you haven t yet done?

9 Estate and legacy

10 Envision priority clarifiers How much of your estate would you like to leave loved ones? What values and lessons would you like to pass on? How do you want to be remembered? Do you have a current will? Do your heirs know where it is and what you want to happen?

11 Education goals

12 Envision priority clarifiers What new skills and knowledge would you like to explore in retirement? Where would you like your children or grandchildren to go to school? To what level would you like to support their education?

13 Philanthropy

14 Envision priority clarifiers What are your favorite charities/causes/educational institutions? Do you want to make a single gift or create a foundation or endowment? Would you like to be able to see the benefits of your philanthropy?

15 Business transition & succession

16 Envision priority clarifiers How do you see your business evolving in the future? Does your company s retirement plan serve your retirement needs? Do you have a transition/succession process or plan in place? Have you discussed it with those who will be most affected? What happens if you can t go to work tomorrow?

17 ?

18 Envision priority clarifiers What else do we need to think about? What other goals do you have? Are there other concerns on your mind?

19 Outliving your assets

20 Envision priority clarifiers What does your family s history with longevity look like? How much are you currently spending? How have you considered the impact of inflation on the total value of your assets?

21 Market decline

22 Envision priority clarifiers What has been your personal experience with market volatility? How has that experience affected the way you invest? If the Dow Jones Industrial Average lost 10% of its value tomorrow, what would you do? How would you feel?

23 Risk tolerance

24 Envision priority clarifiers Do you have an expected rate of return for your portfolio? In life and in investing, are you generally a risktaker or a risk-avoider? When it comes to money, what makes it hard for you to sleep at night?

25 Increasing medical costs

26 Envision priority clarifiers What would happen if you or a loved one required an expensive medical procedure or long-term care tomorrow? Do you have a medical directive in place? Do your loved ones know what and where it is? How have you budgeted for the cost of supplemental insurance in retirement? What is your confidence in providing for the rising costs of health care during retirement?

27 Taxes and inflation

28 Envision priority clarifiers How do you think your plans for retirement will change your tax burden? What are you doing today to minimize your tax liability? Where does inflation concern you most? Wells Fargo Advisors does not render tax or legal advice.

29 Supporting parents and/or adult children

30 Envision priority clarifiers Are you currently caring for your parents and/or adult children? Do you expect to care for your parents and/or adult children? How do you believe your current family situation will change over the next 10 or 20 years? What discussions about this have you had with your parents and/or adult children?

31 Managing liabilities

32 Envision priority clarifiers How comfortable are you with having debt in retirement? How would you meet a large, unexpected expense or cash need? I will maintain a line of credit. I would use available cash. I would liquidate securities. Other?

33 Today vs. tomorrow

34 Envision priority clarifiers How comfortable are you with your current lifestyle? Is it more important to save for tomorrow or to live for today? Would you be willing to make sacrifices in your current lifestyle for a future goal? Envision is a registered service mark of Wells Fargo & Company and used under license. Investment and Insurance Products: u NOT FDIC Insured u NO Bank Guarantee u MAY Lose Value Wells Fargo Advisors is the trade name used by two separate registered broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of Wells Fargo & Company. 2011, 2015 Wells Fargo Advisors, LLC. All rights reserved [75575-v4] (1 pkg., Rev. 05)