Standalone Financial Planning

The standalone planning engagement is meant to cover the most common financial planning topics. It provides a general overview of your financial health with recommendations for attaining your short and long-term goals.


Reliable Income Analysis

An analysis of your retirement funding sources and calculation of your reliable income funding gap. We will review the reliable income funding sources available to address your income gap (if applicable) along with implementation recommendations. The Reliable Income Analysis includes:


Risk Mitigation
Highlight potential risks to your spending goals and recommend ways to mitigate them.

Spending Needs Analysis
A review of your essential and discretionary spending needs, with recommendations for ways to fund them. Includes recommendations for ways to adjust your funding sources to better align with your spending goals.

Income Flooring
Identifies the level of annual real income your assets will support over the life of your plan to maintain a stated standard of living in retirement, given a set of underlying assumptions.

Social Security Optimization Analysis
A review of potential claiming strategies available to optimize your Social Security income stream.

Retirement Income Solution Recommendations
Summarizes the reliable income analysis and provides implementation recommendations based on your objectives.


Retirement Income Style Awareness® (RISA®) Profile

For those that have not yet completed the RISA®, we will provide access, allowing you to complete the assessment. We will also work with you to interpret your results and evaluate the potential application to your financial plan.

We believe that there are many ways to construct a successful retirement income plan. However, the best way for you largely depends upon your retirement income style preferences. The RISA® serves to evaluate your preferences, aligning them with an approach to retirement income planning. Think of it as a personality test for your retirement income preferences.




Tax Analysis
and Projection

A high-level review of your current investment portfolio and overall strategy. Includes a review of your portfolio expenses, investment diversification, and composition. Note that investment guidance is limited to allocation considerations, such as how much to allocate to stocks, bonds, or annuities, and will not offer specific investment or product recommendations.

A review of your prior year's income tax return to identify tax planning opportunities. Includes a review of your retirement income plan for tax efficiency and recommendations for tax saving strategies such as asset location changes or Roth conversions (when applicable).


Learn more about working with McLean



McLean will review existing life insurance, annuity contracts, disability policies, and long-term care policies, recommending changes where appropriate. As part of your goals-based financial plan, McLean will evaluate your coverage needs and analyze whether insurance products can increase your plan's probability of success.

Note that there is no obligation to implement any insurance recommendations with McLean.




Presentation of Goals- Based Financial Plan and Recommendations

As applicable, McLean will incorporate goals such as debt repayment strategies, impact of housing and domestic relocation, as well as gifting and legacy considerations.

The goals-based financial plan reflects the probability of success in meeting your goals based on a Monte Carlo analysis. Includes a base plan that shows your likelihood of success in meeting your goals before and after implementing your planning recommendations.

If applicable, the following services
will be included at no additional cost:


Pension Review
A review of your current pension(s) and how to best utilize them within your retirement income plan to meet your goals. The pension review includes an analysis of available pension distribution options with an implementation recommendation based on your goals and circumstances.


Medicare Election Consulting
For individuals age 63+, the engagement includes a discussion with McLean’s strategic Medicare partner to determine recommendations for Medicare elections based on your situation.


Education Planning
Includes a review of expected education expenses and recommendations for how to fund them.


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