What it is
Making sure your spouse/family are okay financially if something happens to you.
How it works
You list your monthly expenses and debts (mortgage, car, cards, etc.).
The advisor helps decide which debts to pay off before or during retirement.
They create a spending plan that fits your income plan.
They often set up separate “buckets” for bills, fun money, travel, etc.
Simple Example
You want to travel more, but you’re nervous you’ll overspend.
The advisor might say:
“Let’s set aside $6,000 a year specifically for travel. That’s $500/month.”
They show where that $500 comes from in your income plan.
Now you can travel without guilt because it’s built into the plan.
Important Disclosure: Descriptions of services on this page are general in nature and are provided for informational and educational purposes only. Actual services are provided solely by independent third-party advisors who participate in the Retirement Readiness Quiz (RRQ) program. RRQ is not a registered investment adviser, broker-dealer, tax professional, or law firm, and does not supervise, control, or guarantee the advice or services of any advisor. Nothing here should be considered personalized investment, tax, or legal advice, or a guarantee of future results. Before implementing any strategy, you should review the advisor’s regulatory filings (such as Form ADV), written disclosures, and engagement agreements, and consult with your own qualified professionals as needed.
