Frequently Asked Questions
What information will I need to complete the Questionnaire?
- Mortgage statement
- Retirement account statements
- Investment statements
- W-2 statements
- Last year’s tax return
- Detailed breakdown of last year’s personal expenses
- Current year personal budget if available
- Bank statements
- Credit card statements
- Student loan statement (if applicable)
How long does it take to complete the Questionnaire?
Once you have gathered all the information you will need, in one sitting, the Questionnaire takes approximately one to two hours to complete. If you need to take a break or locate additional documents, you can save your work and return at a later time.
Do I have to complete the Questionnaire all at once?
No. There is an option to save the Questionnaire as you go. If you need to take a break to find some additional information, the system will automatically save your information and return when you are available next.
What if I have questions about the Questionnaire?
Use our chat feature to communicate with us or, if you prefer, you can email us directly with any questions you may have.
Now that I’ve received my LifeLens financial forecast, what are my next steps?
Our team of experienced and friendly modeling experts are here to help you create your ideal financial future. We offer one-on-one consultations (via phone, Skype, Zoom or VOIP), written assessments, and forecast reviews to help you fully understand your financial forecast, so you can begin paving your path to financial freedom.
How often can I make changes to my model?
The model is available to you 24/7 and you can make as many changes as you would like during your subscription period.
Is my sensitive personal and financial information safe with LifeLens?
Yes. Security is our top concern. All LifeLens Financial servers are up-to-date with the latest operating systems to prevent security breaches due to bugs in software. All LifeLens Financial servers are segregated from the internet with only bare minimum access for web applications. All data is stored in the Google Cloud storage infrastructure and is encrypted. At no time is credit card-related data stored or handled directly by LifeLens Financial.
Am I done once I receive my LifeLens report?
Unlike any other financial forecasting tool on the market, LifeLens has been carefully designed to provide value throughout the year and for the rest of your life. We encourage you to return to LifeLens as your financial situation changes, or whenever you have an important financial decision to make. LifeLens is your trusted resource to help you remain in control of your financial outlook, no matter how your financial circumstances or aspirations evolve over time.
What if I don’t have the time to complete the LifeLens Questionnaire?
No problem! For $395, our modeling experts are happy to take care of everything—all you have to do is provide us with your information.
Does LifeLens help me determine if renting or buying a home is my best option?
Yes. LifeLens allows you to model an unlimited number of renting and homebuying scenarios to help you fully understand the lifelong implications of renting or buying a home. With LifeLens and its 40,000+ calculations on your side, you’ll receive instant insight into the many financial variables that factor into your decision-making. This kind of insight means you’ll never have to guess how purchasing a home will impact your financial livelihood, both as it stands now and as it changes over the course of your life.
How often should I update my Planner details?
LifeLens is an evergreen tool that has been carefully designed to provide value throughout your life. To get the most out of all LifeLens has to offer, we recommend updating your financial details at least once per year, but your frequency is completely up to you.
Does LifeLens help me know when I can retire?
Yes. By concisely modeling your net worth over the course of your life, LifeLens shows you when you’ll have enough money to comfortably retire. With LifeLens, you decide what a “comfortable” retirement looks like—with the power to model an unlimited number of scenarios, you will know how much you’ll have when you retire at any given age.
Can LifeLens help me become a more generous giver?
Yes. With full, year-to-year financial clarity, you’ll be able to plan your charitable giving with confidence for the rest of your life. By understanding your lifetime net worth, you can even begin planning your estate to ensure that your charitable legacy is 100 percent on your terms.
Can LifeLens help me budget for a wedding?
Yes. The financial clarity provided by LifeLens means you’ll know how much you can spend on a wedding (and/or honeymoon) without breaking the bank. By modeling a wide variety of wedding options, you’ll understand exactly the kind of wedding you can afford so you can enjoy the special day free from financial stress or uncertainty.
I have a family member or friend who would benefit from financial clarity. Can I give LifeLens as a gift?
Absolutely! We applaud your generous spirit. A LifeLens subscription, or any of our consultation services, may be purchased as a gift for a friend, family member or coworker in your life. Simply select the subscription or consultation service you’d like to gift, and enter the recipient’s information when prompted at checkout.
Is there an age or life stage that is best to start this model?
It is never too early to track your financial plan. The earlier you start, the more time you allow to make decisions that will help you meet goals. The Lifetime Financial model is particularly important for people beginning in their mid-30s to age 65.
What if I live 5 or 10 years longer than my forecasted life expectancy? How can I use LifeLens to help me find out if my money will last?
Simply create a new model and change your life expectancy to whatever year you desire, and then compare your models.
What if my investments don’t perform as well in the future as they have in the past? Can LifeLens help me learn what will happen if recessions come more frequently?
Yes, LifeLens is designed to help you understand the aftermath of recessions and poor investment returns. Using the modeling tool, reduce the return on your investments by selecting a lower return than you have originally selected. You can also consider a more drastic potential reduction by entering a zero return on investment.
As you are selecting what you think your investment return will average over the rest of your life, we advise that you recognize that some years will produce negative returns and other years will produce significantly positive returns.
Does LifeLens help me prepare for a severe economic recession or depression?
Yes—LifeLens helps you understand how your finances will fare during even the worst potential recessions and depressions. Simply create a LifeLens model and reduce your investment portfolio and real estate asset returns to a negative 20%, 30% or even 50% to see the overall financial implications of economic disaster.
Can LifeLens help me plan for unexpected emergencies, such as the death of a spouse?
Yes, the flexible modeling capabilities of LifeLens allow you to find out how your finances will fare under nearly any event. In the case of the unexpected death of a spouse, you can create a model and remove your spouse’s income from your financial outlook. This will help you understand and be financially prepared for even the worst tragedies.
How can LifeLens help me understand the financial impact of significant medical challenges down the road for myself or a family member?
You can create a new LifeLens model for surprise medical expenses by adding in a large medical expense at whatever year you choose. This will enable you to see the impact it has on your financial picture.
Can LifeLens help me see the financial impact of social security going bankrupt?
LifeLens can give you insight into the financial implications of social security going away, and its impact on your retirement plans, by creating a new model and eliminating the social security income. The model will then demonstrate the financial impact across the rest of your life.
Does LifeLens help me understand whether l will be able to afford the additional care I might need as I get older?
Yes, LifeLens lets you create a model that includes a cost estimate for whatever type of care you would like to consider. The model also has a provision to include the cost of a senior care facility to help you forecast the cost for your later years of life.
Do the modeling capabilities of LifeLens help me plan for unexpected disability?
Yes—we advise that you first create a model and pick a future year for a hypothetical disability to occur. Then reduce your income and increase your expenses in that year and subsequent years. This model now shows you the financial impact of your hypothetical disability. Next, create an additional model and include the annual premiums for disability insurance along with the disability income that you would receive.