Target-Maps funding goal templates utilize pre-filled, default values to quickly get the conversation started about saving for the following life events:

Target-Maps utilize information entered on the client's Asset-Map to generate dollar values and durations based on Target-Map preferences. Of course, the results may be adjusted on a per case basis by editing specific Target-Map Reports.

Best Practice

Check your Target-Map Preferences before running Target-Maps to ensure they align with your desired planning expectations! Most advisors adjust them to the region they are in, the demographic of the majority of their clients, or the way they like to discuss funding goals with their client.

These preferences are common to all Target-Maps. The defaults may be adjusted on a per case basis by editing specific Target-Map Reports.

Percent Loss to Taxes of financial sources available for cash flows, assets and insurances. The Amount Lost to Taxes is the percentage of the gross value of a financial instrument that will effectively be lost to taxes. Since gross values are commonly used in the Asset-Map and financial statements, a reduction of that gross value is necessary to account for the embedded tax obligation that is due upon consumption. This figure is not necessarily equal to the marginal tax rate but rather an intelligent accommodation to the amount of unpaid taxes embedded in the gross value that should be discounted for purposes of consumption.

Adjustments on the assumed tax obligations appear on the What you have page of a Target-Map in the Loss to taxes column. Your preferences will be applied to the various types of cash flows, assets and insurances that are available for selecting to fund the plan.

Adjustments to these parameters are not retroactive and are not applied to Target-Maps that have already been run.

The overall funding goal dollar value is defined by the preferences on each Target-Map type. These funding goals represent the What you want page on a Target-Map. Each Target-Map What you want page has a number of talking points that are calculated by these values.

Each talking point may be removed from the Target-Map by default by unchecking its checkbox. Unchecking the box means that future Target-Maps will not include it on the generated Target-Map's What you want page.

Customize the default description of each line item on the What you want page by entering and saving a new description in the display field.

This feature provides the ability to further customize your client conversations by adding talking points for the Loss of Life and Retirement Target-Maps (up to 10 custom "Wants"). Use the Custom Wants button and complete the form with the desired parameters.

Use the Save Changes button to save custom Wants for future Loss of Life and Retirement Target-Maps.

Example: Deploy your own default retirement funding discussion

You prefer to talk about the three phases of retirement years. You may customize your retirement conversation.

Change names and parameters of our defaults -
​Instead of "Living Expenses" - in the Description field enter "Go-go Years"; assess 70% of the primary and spouse' current annual income to come up with a value for lifestyle spending; start age 67, end age 77; apply 3% COLA to accomodate for inflation

Instead of "Travel Expenses" - In the Description field enter "Slow-go Years"; assess 60% of the primary and spouse' current annual income; start age 77, end age 87; apply 3% COLA to accomodate for inflation

Instead of "Medical Expenses" - In the Description field enter "No-go Years"; assess 50% of the primary and spouse' current annual income; start age 87, end age 100; apply 3% COLA to accomodate for inflation

Add additional default discussion topics using Custom Wants.

Ensure you save your work by clicking the Save button at the bottom of the page.

The Loss of Life Template attempts to pre-fill standard funding requirements for the survivors of a lost household member based on the financial professional's preferences. Toggle the checkboxes next to the conversation topics to include (checked) or exclude (unchecked) those fields on the Target-Map calculations.

Derive a dollar value to preserve current lifestyle.

Cover immediate, short term expenses to prevent the need to use current assets.

Pay off household liabilities found on the client's Asset-Map.

Cover expenses related to burial, last expenses, celebration of life, etc.

Boost savings account.

General estimate of desired dollar amount for legacy plans.

If the client has dependents (household member must have "dependent" box checked), calculate the dollar value of a default years worth education. This is taken from the Dependent Education Target-Map preferences tab.

The Disability Template attempts to pre-fill standard funding requirements for a household member's disability event based on the financial professional's preferences. Toggle the checkboxes next to the titles to include (checked) or exclude (unchecked) those fields on the Target-Map calculations.

The Long-term Care Template attempts to pre-fill standard funding requirements for a household member's long-term care event based on the financial professional's preferences. Toggle the checkboxes next to the titles to include (checked) or exclude (unchecked) those fields on the Target-Map calculations.

Estimate a one-time dollar amount for home modification.

The cost of administrative help to deal with the coordination of benefits. This is a one-time dollar amount.

The of training of family to care for loved one. This is a one-time dollar amount.

The Dependent Education Template attempts to pre-fill standard funding requirements for a dependent's education need based on the financial professional's preferences. Toggle the checkboxes next to the titles to include (checked) or exclude (unchecked) those fields on the Target-Map calculations.

The Retirement Template attempts to pre-fill standard funding requirements for the selected household members Retirement plan based on the financial professional's preferences. Toggle the checkboxes next to the titles to include (checked) or exclude (unchecked) those fields on the Target-Map calculations.

Living expenses is assumed to be for the individual or the couple, even though one member is chosen.

The eldest member is selected by default to quickly establish a start year and end year of this plan. This can be adjusted by the advisor as desired within the Target-Map's What you want page.

This layers a desired cash flow for travel during retirement.

This layers a desired cash flow for added medical expenses during retirement.

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