RESOURCES · FOR FINANCIAL ADVISORS & RIA FIRMS

Better questions.
Clearer retirement conversations.

Practical discussion guides for the work around a retirement plan: understanding priorities, examining assumptions, and agreeing on what happens next.

CONVERSATION GUIDE

Start with the life your client wants.

Use these prompts before moving into scenario analysis. The aim is to learn what a useful plan needs to address, rather than begin with a preferred answer.

Explore the priorities.

• “What would you like your week to look like after leaving full-time work?”
• “Which parts of your current lifestyle would you most want to preserve?”
• “Who else depends on you, or should be part of this conversation?”

Understand flexibility.

• “How flexible is your retirement date?”
• “Would you consider part-time work, and what would make that appealing or difficult?”
• “Which expenses feel essential, and which could change?”

Find the unanswered question.

• “What concerns you most about making this transition?”
• “What would you need to understand before feeling ready to decide?”
• “Are there upcoming family, work, or health-related changes we should discuss?”

Close the discussion: Summarize the household’s top priorities in their own words. Confirm which question the next scenario comparison should address.

SCENARIO REVIEW GUIDE

Separate the facts from the assumptions.

Before presenting a comparison, make its inputs and limits easy to explain. These prompts support a review conversation; they are not a calculation method or a substitute for your firm’s planning process.

Questions to ask before the client review.

• Are income and spending figures expressed on a consistent basis, with the treatment of taxes and inflation clearly stated?
• Are retirement dates, benefit timing, and planning horizons explicit?
• Have one-time expenses and recurring commitments been distinguished?
• Are healthcare and coverage assumptions identified rather than implied?
• Can you explain why two scenarios differ without relying only on a headline result?
• Which information needs to be updated before a decision is considered?

Useful meeting language: “This comparison depends on the assumptions we have agreed to use. Let’s review those first, then discuss the differences.”

CLIENT FOLLOW-UP GUIDE

End with a shared understanding.

Reserve time at the end of a review to distinguish what was discussed, what was decided, and what remains open. Use a format that fits your firm’s documentation process.

A simple follow-up note.

• Client question: The decision or concern explored.
• Alternatives discussed: The scenarios considered and the assumptions highlighted.
• Decisions and open items: Separate agreed actions from topics still under consideration.
• Next actions: Action, owner, target date, and information required.
• Next review: The purpose of the follow-up meeting and what should be ready beforehand.

Closing prompt: “Before we finish, what feels clearer, and what would you like us to explore further?”

See the conversation in context.

Explore a fictional household considering three retirement paths, and see how an advisor could frame the questions for a review.

These general practice resources are intended for financial professionals. They do not provide client-specific financial, tax, or legal advice. RetireLuma’s software remains in development.