(WEBINAR) Help your clients prepare for the unexpected (May 3, 2023)

Watch the 1 hour recording of this webinar that covers common “what if…?” questions including:

What if we don't get the rates of return we're expecting?
What if my income dips and I can't save what we've planned?
What if I get sick and need to take a leave of absence from work?
What if I can't continue working until I'm 65, or don't want to?

Along the way, we’ll also educate you on some of Snap’s most useful functionalities to help your client answer their questions.

For this session’s Case Study, we focus on providing answers & recommendations for a single client aged 53, Linda Gill. We'll also add a partner for Linda in her projections and then go over what happens if her partner passes away unexpectedly.

Section 1: Introduction [0:00 – 3:10]

Agenda
How to access Snap Projections Help

Section 2: Create our client’s Base Scenario [3:10 – 14:50]

Creating the sample projection
Navigating in Snap
Reviewing and analyzing the base plan

Section 3: Answering: “What if we don't get the rates of return we're expecting?” [14:50-22:00]

How to copy your base plan to run different scenarios
Ways to adjust the ROR(Rates of Return) from the plan and review the changes
Using the Recommendations feature to optimize the plan
Using the Stress Testing feature to show varying Rates of Return in our client’s plan and reviewing the output in the plan.

Section 4: Answering: "What if my income dips and I can't save what we've planned?" [22:00 - 25:00]

Editing Employment Income in the plan and adjusting contributions in the Capital Assets
Review the planning pages and the charts
Using Recommendations feature– Retirement Age and Sustainable Spending Calculator to show some options

Section 5: Answering: "What if I get sick and need to take a leave of absence from work?" [25:00 – 28:10]

Addressing the client’s concern regarding loss of income due to disability
Adjusting the Employment Income column with either no income or lower income
Making required adjustments under the Capital Asset columns to maintain the client’s lifestyle

Section 6: Answering: "What if I can't continue working until I'm 65, or don't want to?" And changing the default CFM logic [28:10- 37:30]

Copying the base plan and changing the retirement age and editing the Retirement Age Checklist
Using Recommendations – Required Savings Calculator or Sustainable Spending Calculator
Demonstrate an alternative drawdown strategy in the plan
Reviewing the CFM order and changing the default logic depending on the client’s goal
Comparing the Net Worth & Estate Summary tables

Section 7: Answering: “What if I or my partner pass away earlier than expected ?” [37:30- 46:40]

Creating a plan with the spouse’s information added to it
Reviewing the Planning Pages with the Client and Spouse
Editing the plan for the spouse to pass away earlier and see how this impacts the plan
Using Recommendations: Required Lump Sum Calculator

Section 8: Addressing the webinar attendees' questions [46:40-1:00:00]

How to compare the Net Worth & Estate Summary in Snap?
How to access the Help Centre and get access to more resources?
Creating a Corporate plan and addressing the question of withdrawing funds out of the corporation for the clients from Salaries & Dividends
Q & A Live session registrations - come to see more frequent product walkthroughs and demos