Retirement Planning Guide: 7 Proven Steps With a CFP® Pro

Your Retirement Plan Starts Here: What to Expect When You Hire a Professional

Welcome to the beginning of your retirement journey. My role as your financial planner is to do the heavy lifting, gathering data, running projections, recommending strategies, and your role as the client is to share honest information and make the final decisions that feel right for your life. The process follows the Certified Financial Planner™ Board’s seven‐step standard and draws on the deeper technical guidance embedded in the Chartered Financial Consultant® curriculum.

Step 1: Getting to Know You

The official phrase is “understanding your personal and financial circumstances.” For you, this means a relaxed conversation about family, career, health, values, and every dollar that flows into or out of your household. I will ask for pay stubs, tax returns, account statements, and insurance policies. You can think of it as opening the drawers while I take notes. My software organizes the numbers; you do not have to build spreadsheets. Your main task is honesty: tell me what keeps you up at night and what excites you about the future. That emotional context shapes everything else. The CFP Board treats this discovery as the foundation of ethical planning (1).

Beyond the documents, we’ll talk about what retirement really looks like for you. Are you picturing full-time travel or more local volunteer work? Do you imagine mentoring grandchildren or launching a second career? That narrative becomes the guiding star for every calculation. When I know not just your numbers but also your hopes, I can design a plan that feels tailored rather than templated.

Step 2: Setting Goals Together

Next we translate dreams into dates and dollar targets. “I want to retire comfortably” becomes “I would like $9,000 a month after tax starting at age sixty-five.” “We hope to travel” becomes “We plan two international trips a year at $8,000 each.” My job is to press for detail, because vague wishes lead to vague plans. Once we pin down numbers, I enter them into projection software that adjusts for inflation, taxes, and life expectancy. You sign off only after the goals sound and feel correct. The ChFC® program calls this the heart of values-based planning, because goals drive every future recommendation (2).

We’ll also prioritize those goals so we know which dreams get funded first if resources are limited. Maybe the first priority is paying off your mortgage, the second is funding travel, and the third is leaving a legacy gift. Having that hierarchy means we can make real-time trade-offs—like whether to add more aggressive investments—without second-guessing the entire plan.

Step 3: Crunching the First Draft

With goals locked, I build a baseline projection of your retirement income. I estimate Social Security using the Social Security Administration calculator, model any pension streams, and test how current savings might grow under historical market assumptions. You do not have to master algebra or Monte Carlo simulations; the software does that on my screen. What you will see is a simple chart showing whether your plan is on course or needs adjustments. If a gap appears between desired lifestyle and estimated income, we discuss options: higher savings, different risk exposure, delaying retirement, or some combination. This analysis phase is where the hidden math lives, but I translate it back into plain English so you remain the captain of big-picture choices (3).

I also stress-test the plan against market downturns and unexpected expenses. We run scenarios, such as a severe market drop or an unplanned medical expense, to see how your portfolio performs under stress. That way, when real-life events arrive, you’ll know precisely how much cushion you have and where to find it. No more surprises, just a clear understanding of risks and safety nets.

Step 4: Crafting Your Personalized Strategy

Strategy is where theory becomes action. Following CFP® practice standards, I weigh tax efficiency, investment allocation, insurance needs, and estate structure as a single system. For instance, I might recommend maximizing your employer's 401(k) to the current IRS limit, adding a Roth IRA for tax-free diversification, or opening a health savings account that doubles as a medical nest egg after age 65. I decide which accounts make sense, which funds align with your risk tolerance, and how much cash reserve is needed to protect against bad markets. You approve or reject each move; you do not draft the plan yourself. The ChFC® curriculum emphasizes written investment policy statements, so I deliver one in plain language describing target allocations, rebalancing triggers, and the rules we will follow when news headlines turn scary* (4)*.

We’ll also clarify how each recommendation supports a specific goal. For example, your emergency fund isn’t just “three months of expenses,” but the guardrail that ensures you never sell growth assets in a downturn. Likewise, your chosen mix of domestic and international funds reflects both return potential and risk management. Seeing that one-to-one connection makes every recommendation logical rather than arbitrary.

Step 5: Presenting the Plan and Answering Questions

Before any transaction happens, we meet, virtually or in person, and walk through every page. I explain the logic, the benefits, and the trade-offs. If the plan suggests a higher savings rate, I show exactly how it fits your cash flow. If the investment mix has more stocks than you expected, I review the long-term data on risk and reward. Your role here is to challenge assumptions until you feel confident. My role is to clarify complex ideas without using jargon. CFP® guidelines require informed consent, so no account opens or roll-over occurs until you give a clear Yes (1).

During this meeting, I also provide you with a one-page “Plan Highlights” summary—your quick-reference road map for future check-ins. It lists the top three action items, the chosen allocation targets, and the next key review date. That keeps the plan front of mind, even on busy weeks when inboxes get full.

Step 6: Implementing—Where I Do the Heavy Lifting

Once you approve, I move to execution. That means filling out custodial paperwork, setting up automatic contributions, transferring old 401(k) accounts, executing trades, applying for insurance policies, and coordinating with your estate planning attorney. You sign where needed but do not wrestle with financial websites at midnight. My focus is on transforming decisions into funded accounts and enforceable legal tools, without burdening you with unnecessary details (2).

I also monitor the setup process end-to-end, so if a paper gets lost or an online portal glitches, I’m the one chasing it down. You’ll receive updates only when action is required on your part—usually just a signature or a final approval. Everything else happens quietly in the background.

Step 7: Monitoring and Updating

Life will change, markets will wobble, and laws will evolve. The CFP® framework requires ongoing monitoring. I schedule review meetings at least once a year, sometimes quarterly, to compare real-world numbers against the plan. If investments drift away from target allocations, I rebalance. If new tax rules open better Roth conversion windows, we adapt. Your job is to keep me informed about promotions, health issues, inheritances, or new dreams. Together we adjust the plan so it stays current. Monitoring turns a static document into a living process (1).

Between formal reviews, I send you emails highlighting progress toward each goal and any notable market or tax changes. That way, you stay informed without feeling overwhelmed. When a significant life event arises, like selling a house or changing jobs—you’ll know I’m already ready to integrate it into your plan.

Life-Stage Recalibration

Major life events, such as selling a business, receiving an inheritance, or welcoming a grandchild, often necessitate mid-year adjustments to your plan. I keep a “life-event checklist” on file so we can quickly pivot: updating beneficiary designations, adjusting disability coverage, or revising withdrawal strategies. Documenting these pivots meets the record-keeping guidance outlined in FINRA Rule 3110 (6).

Legislative and Tax Watch

Tax law rarely stays still. I monitor IRS bulletins and Congressional proposals for changes to Social Security taxation, Roth conversion windows, and Required Minimum Distributions. When new rules emerge, you get a plain-English email outlining the impact and a suggested action plan, long before April 15th surprises you (7).

Secure Client Dashboard

For day-to-day transparency, you can log in to a secure portal that aggregates all your accounts, custodial, banking, and even your employer stock plan, using bank-level encryption. The dashboard updates nightly, so you always see an accurate net-worth picture without juggling logins or spreadsheets. This tool meets the SEC's cybersecurity guidance for safeguarding client data (8).

Frequently Asked Questions

Do I need to understand every chart?

No. You need to understand the decisions those charts support. Part of my job is translating numerical output into real-life meaning, so you can make informed decisions with confidence.

What if I hate paperwork?

Most clients do. I use secure digital forms and handle submission. You review and e-sign in minutes.

How often will we talk?

Expect formal reviews at least annually, and informal check-ins whenever you face a significant life event. Emergencies get same-day attention.

What does this cost?

Fees depend on complexity and assets under management. We disclose all costs in writing before you commit. Remember, professional guidance aims to save or earn more than it costs by avoiding mistakes and capturing opportunities (5).

Your Next Step

If this process sounds like the right balance of professional expertise and personal control, the next move is simple: schedule an introductory call. During that brief meeting, we confirm the fit, outline the timelines, and gather the first set of documents. From there, I handle the math, strategy, and paperwork while you focus on living your life.

Schedule your complimentary consultation today.

— Gustaf Rounick, CFP®, ChFC®

Works Cited

1. https://www.cfp.net/ethics/compliance-resources/2019/02/the-7-step-financial-planning-process

2. https://www.theamericancollege.edu/learn/professional-designations-certifications/chfc

3. https://www.ssa.gov/benefits/calculators/

4. https://www.irs.gov/retirement-plans/plan-sponsor/401k-resource-guide-plan-participants-participate

5. https://investor.vanguard.com/advice/advisor-alpha

6. https://www.finra.org/rules-guidance/rulebooks/finra-rules/3110

7. https://www.irs.gov/newsroom/irs-tax-tips

8. https://www.sec.gov/files/cybersecurity-ria-firms.pdf