When considering the Retirement Planning Process, a step that seasoned Financial Planners are always working to improve is Establishing Objectives and Gathering Data. Which of the following is / are examples of that step in the process?
1) encourage your client to ask themself questions about their expected lifestyle at retirement
2) identify financial obligations or objectives that might interfere or conflict with the client's retirement objectives
3) explaining to clients or prospective clients that not all objectives will be realized and some objective may be in conflict each other
4) determine savings required to fund desired retirement income
5) v) all of the above