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Once you get the hang of running illustrations, you are going to want to be able to show the best way for your clients to save money. Here are some tips we use when running illustrations to get the most out of each interaction you have with your clients:

Master Adding Information for the Current Scenario

We always suggest running a basic scenario for your clients that illustrate what the projections might look like if you use their current situation. This will set the stage for your planning and subsequent comparative illustrations.

Compare Current Scenario vs a “What If” Scenario

Once you have a baseline scenario that illustrates what an individuals or couple current situation may look like in retirement. If a clients baseline includes Social Security, Pension and or other Taxable income such as a 401(k), you can substitute the income that would come from the 401(k) with income that comes from a Roth IRA or Whole Life Insurance policy. In most scenarios this would reduce the amount that an individual will pay for health cost in retirement because the amount of taxable income is reduced. (401(k) is swapped for non-taxable income in the form of Roth IRA, Life Insurance etc)

Ways to Reduce Costs by Manipulating Means-testing Brackets