When discussing retirement planning with your financial planning advisor, the following are some of the areas that need to be considered:

Current age(s)
Current and anticipated income prior to retirement
Current living expenses and ongoing savings amounts
Anticipated retirement age(s)
Estimates of longevity
Estimates of retirement living expenses (80-100% of current expenses?)
Estimates of anticipated income tax rates (Federal + State)
Outline of estate planning documents & vehicles

  • Wills
  • Trusts
  • POAs
  • Medical directives & POAs
  • Life insurance (types and amounts)
Health Insurance
  • Prior to age 65
  • Medicare
  • Medigap
  • Long-term care insurance
Existing Assets including 
  • Checking and savings accounts
  • Money market accounts
  • Brokerage accounts
  • Other mutual funds, stocks, bonds, etc.
  • Real estate
  • Trusts
  • Other financial assets such as cash value of life insurance policies
Retirement Assets including
  • 401(k)s, 403(b)s, 457s,
  • Individual and inherited IRAs 
  • Fixed/ variable annuities
  • Whole life insurance
  • Mortgage(s)
  • Home equity loans and lines of credit
  • Auto loans
  • Credit cards
  • Other
Retirement cash flows
  • Social Security benefits (target start date(s))
  • Defined pensions
  • Part-time work (how long)
Other retirement concerns
  • Geography
  • Hobbies
  • Volunteer
Legacy - how much do you want to leave to your heirs?

Also important are your expectations about future inflation and what kinds of returns you believe you would be able to obtain on your investments.