Planit:Introduction to the Goals and Objectives Screen

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There is more than one way to learn about PlanPlus Planit. Check out our other Training options, from structured tracks around planning types, to self-serve, mix-and-match topics. In this Video you will Learn... What do I enter on the Goals and Objectives Screen? • Purpose of screen • Overview of data entry required Keep on Track! Continue training on... Life Planning Integrated Planning Modular Planning Getting Started Goals & Objectives Screen Other Related Topics Add Objective Ranking Objectives Multiple Scenarios

The material in this video may differ somewhat from what you see on your site due to difference in version, jurisdiction, corporate content or access level. Regardless of these differences most of the core functions are consistent across all sites, so you'll be able to benefit by and large from what you learn in this video.

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The Objectives screen is where you’ll identify your client’s life goals. When this screen opens, it will be pre-populated with your client’s Current and Retirement Lifestyle objectives.

This screen is has also been changes to be tab driven, with a separate tab for each scenario for your clients.

Here is an overview of some recent changes for the Goals and Objectives screen.

• More Transparency of Assumptions. For example you’ll see burial costs identified on the Client and Spouse’s death tabs.
• Easier to make edits right on the screen without having to open each record.
• Ability to add Objectives that are unique to the Modeled scenario.
• Increased Intelligence when Objectives begin and end using drop down setting for both the start year and the end year.
• Hover over feature for the start year and end year when they are tied to something other than a fixed date. Also you can hover over the inflation rate to see if it’s tied to the default inflation rate.

When you first come into this screen, you will notice that the system has created the Current Lifestyle for clients who are not yet retired and the Retirement Lifestyle record. And any Educational Goals that you identified for dependents on the Personal Information screen. The first thing you need to do upon entering this screen is to review the Retirement Lifestyle record and edit it as appropriate. The initial record that’s created here is based on the first save you do on the Cash Flow screen. From that point forward the retirement lifestyle will not be changed when you make any changes in the cash flow screen. This is because you typically will edit the retirement lifestyle objective based on either goal that your client has identified, or your estimate of the appropriate amount given your discussions with your client. This number should be considered as a starting point and will likely need to be adjusted to reflect a somewhat lower objective since typically client’s don’t require the same spendable income in retirement as they do during their accumulation years when they are paying off mortgages, other debts and supporting dependents.