Defining your retirement goal in NaviPlan

September 18, 2020 by Tom Burmeister

How much do you need to save for retirement by Advicent

about the author:

Tom Burmeister

Vice president, financial planning

As vice president of financial planning, Tom is an integral contributor to the strategic vision around our financial planning initiatives. Additionally, he is critically involved in all partner interactions, thought leadership contributions, and internal training programs.

We at Advicent are excited to be sponsoring today's episode of the Animal Spirits podcast hosted by Michael Batnick and Ben Carlson. For the listeners that may not be familiar with Advicent, we are the provider of NaviPlan – an industry-leading financial planning solution trusted by over 140,000 financial professionals across over 3,000 firms worldwide. This includes four of the top five custodians, 15 of the top 25 broker-dealers, seven of the top 10 North American banks, and seven of the top 10 North American insurance firms.

This week’s episode discusses retirement savings strategies and how to get the process started. Listen to the full episode below:



In the following sections, I will demonstrate how clients and advisors can kickstart the retirement planning process with the NaviPlan Guided Retirement tool. To see the process for yourself, check out the video below:



Starting with known facts

Some of my colleagues have mentioned before on the blog that financial planning is less about predicting the future, but rather becoming prepared for the unknown. The difficult task of predicting your needs in 20, 30, or more years down the road can often be a barrier for many investors. With the NaviPlan Guided Retirement experience, clients and advisors can begin with a single, known data point – income – to kickstart the retirement planning process.


This easy entry point to needs analysis is made possible with the precision of the NaviPlan calculation engine paired with smart assumptions. More on this in the section below.

Remotely connect with clients and deliver engaging advice.

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Phased retirement expenses

Much like life before retirement, expenses will vary over time in an individual’s post-working years. In NaviPlan Guided Retirement, clients can see what their expenses may look like in the early, mid, and late retirement phases thanks to smart assumptions based on consumer spending and other big data sources, as well as trusted academic research.


Most clients severely underestimate healthcare needs during retirement, which is why Advicent has partnered with Aivante, a leading healthcare data analytics company, to enable NaviPlan to generate personalized out-of-pocket healthcare spending projections. These projections are developed from millions of claims data points and can be customized based on the general health status of each client.

Collaborative planning workflows

Clients today show a desire to be more involved in the planning process, and NaviPlan Guided Retirement recognizes this trend with a collaborative workflow that encourages meaningful conversations between advisors and their clients.


The final step of the Guided Retirement assessment provides an engaging results chart that can be altered based on modifications to monthly savings, retirement expenses, or retirement age.

Now through 2021, access the NaviPlan client portal for free to remotely connect with your clients and deliver an engaging planning experience. Click here to learn more.

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