Demographic Data

Demographic data provides essential context about your clients' personal situations, family structures, and living circumstances. This information helps you tailor financial advice, identify relevant planning needs, and build stronger personal connections.

Age and Life Stage Fields

Age / Age Range

What it is: Client's current age or estimated age bracket

Format:

Exact age (when birthdate known): 47
Age range (estimated): 45-49

Source: Public records, marketing databases, social media, calculated from birthdate

Use cases:

Life stage identification (accumulation, peak earning, pre-retirement, retirement)
Eligibility milestone tracking (50, 55, 59½, 62, 65, 70, 73)
Generational segmentation (Gen X, Baby Boomer, Silent Generation)
Product/service relevance

Planning applications:

Age 50+: Catch-up contributions, mid-career planning
Age 59½+: Penalty-free retirement distributions
Age 62+: Early Social Security eligibility
Age 65: Medicare enrollment
Age 73: Required Minimum Distributions (RMDs)

Limitations: May be estimated rather than exact; privacy laws limit collection of precise birthdates

Date of Birth

What it is: Client's birthdate (when available)

Format: MM/DD/YYYY or age calculation

Source: Public records, client-provided data

Use cases:

Precise eligibility date calculations
Birthday recognition programs
Exact age-based planning

Privacy note: Often not fully available; may only see year or age range

Generation / Generational Cohort

What it is: Generational classification based on birth year

Possible values:

Silent Generation (born 1928-1945)
Baby Boomer (born 1946-1964)
Generation X (born 1965-1980)
Millennial (born 1981-1996)
Gen Z (born 1997-2012)

Source: Calculated from age/birthdate

Use cases:

Communication style preferences
Technology adoption patterns
Financial priority differences
Marketing message customization

Generational insights:

Boomers: Often in or approaching retirement, values face-to-face interaction
Gen X: Peak earning years, sandwich generation caring for parents and children
Millennials: Family formation, home buying, student debt concerns
Gen Z: Early career, digital-first, values transparency

Family and Household Fields

Marital Status

What it is: Current marital/partnership status

Possible values:

Single
Married
Divorced
Widowed
Domestic Partnership
Unknown

Source: Public records, consumer data, inferred from household composition

Use cases:

Estate planning needs (beneficiaries, survivor planning)
Tax planning (filing status)
Insurance needs
Joint vs. individual account considerations
Social Security claiming strategies

Planning implications:

Married: Spousal benefits, joint tax planning, survivor income needs
Divorced: QDRO considerations, beneficiary updates, separate estate plans
Widowed: Survivor benefits, estate settlement, remarriage planning

Limitations: May not reflect recent changes; legal vs. common-law distinctions vary

Children in Home

What it is: Number of children living in household

Format: Numeric count (0, 1, 2, 3+) or Yes/No

Source: Consumer databases, public records, household modeling

Use cases:

Education funding planning (529 plans, UTMA/UGMA)
Life insurance needs assessment
College financial aid planning
Tax credits and deductions
Family protection strategies

Limitations: May not reflect custody arrangements, adult children living at home, or recent changes

Children's Ages

What it is: Age ranges or specific ages of children

Format: Age list or ranges (e.g., "0-5, 12-17")

Source: Consumer data modeling

Use cases:

College timeline planning
Age-appropriate financial education
Life insurance duration needs
Estate planning for minors
Financial milestone timing

Planning triggers:

Infants/toddlers: Start 529 plans, guardian designation
Elementary age: Adjust education funding, review insurance
High school: College planning intensifies, FAFSA preparation
College age: Distribution strategies, financial aid optimization
Post-college: Update beneficiaries, shift planning focus

Grandchildren

What it is: Presence or number of grandchildren

Format: Yes/No or numeric count

Source: Consumer databases, social media, public records

Use cases:

Gifting strategies (529 contributions, annual exclusion gifts)
Estate planning (skip-generation trusts, legacy planning)
Required Minimum Distribution (RMD) planning
Conversation building (personal connection)
Charitable planning tied to grandchildren

Example conversation starter: "I see you have grandchildren. Many of our clients use 529 plans as birthday and holiday gifts. Would you like to explore that?"

Geographic and Property Fields

Primary Address

What it is: Main residence location

Format: Full address with city, state, ZIP

Source: Property records, your CRM, public databases

Use cases:

Service area qualification
Local event invitations
State-specific tax planning
Property tax considerations
Geographic segmentation

Planning considerations:

State income tax rates
Estate tax thresholds (state level)
Property taxes
Insurance requirements
Local advisor meetups

Home Ownership Status

What it is: Whether client owns or rents primary residence

Possible values:

Owner
Renter
Unknown

Source: Property records, consumer data

Use cases:

Net worth estimation
Mortgage planning opportunities
Estate asset consideration
Home equity strategies
Refinancing opportunities

Planning implications:

Owners: Home equity loans, reverse mortgages (if age 62+), property tax planning
Renters: May have higher investable cash flow, different insurance needs

Home Value

What it is: Estimated market value of primary residence

Format: Dollar amount or range (e.g., "$350,000-$400,000")

Source: Property records, automated valuation models (AVMs), tax assessments

Use cases:

Net worth estimation
Wealth segment classification
Home equity availability
Estate planning
Property tax planning

Limitations:

Estimates may differ from actual market value
Updates are periodic (often annual)
Doesn't reflect recent renovations or market shifts
Tax assessed value vs. market value discrepancies

Note: Use as directional indicator, not exact valuation

See also: 5.5: Financial Indicators for more on home value in wealth assessment

Length of Residence

What it is: How long the client has lived at current address

Format: Years (e.g., "8 years") or date moved in

Source: Property records, consumer data

Use cases:

Stability indicator
Refinancing timing
Home upgrade likelihood
Community connection depth
Relocation planning

Insights:

Long tenure (10+ years): Established roots, may be aging in place or ready to downsize
Recent move (<2 years): May need financial reorganization, new advisor search
Medium tenure (3-9 years): Stable but potentially considering next move

Geographic Location Details

State Used for state-specific planning (taxes, estate laws, insurance requirements)

County Relevant for property taxes, local regulations

ZIP Code Useful for demographic analysis, local marketing, socioeconomic indicators

Metro Area / City Helps with cost of living adjustments, urban vs. rural planning differences

Time Zone Practical for scheduling calls and meetings

Household Composition Fields

Household Size

What it is: Total number of people in household

Format: Numeric count

Source: Consumer databases, household modeling

Use cases:

Insurance needs assessment
Budget and cash flow planning
Tax planning
Multigenerational household identification

Household Type

What it is: Classification of household structure

Possible values:

Single person
Married couple
Family with children
Single parent
Multigenerational
Empty nester
Roommates/unrelated adults

Source: Derived from other demographic fields

Use cases:

Life stage targeting
Planning priority identification
Communication customization

Using Demographic Data Effectively

Personalization Strategies

Life Stage Alignment Match your planning recommendations to life stage:

Young families: Protection, education funding, home purchase
Peak earners: Accumulation, tax optimization, estate planning
Pre-retirees: Distribution planning, Social Security, Medicare
Retirees: Income management, healthcare, legacy

Family-Focused Conversations Use children and grandchildren data to:

Start conversations naturally
Identify gifting opportunities
Discuss education funding
Address legacy goals

Geographic Relevance Tailor advice based on location:

State tax planning
Regional market conditions
Local events and seminars
Weather-related insurance (hurricanes, earthquakes, floods)

Filtering and Segmentation

Campaign Examples:

529 Campaign: Parents with children ages 0-17
Medicare Workshop: Ages 63-65 (approaching Medicare)
Downsizing Seminar: Empty nesters, homeowners, ages 60-70
Catch-up Contributions: Ages 50-59, pre-retiree life stage

Privacy and Sensitivity

Appropriate Use:

Reference family structure naturally: "As a parent of college-age children, you might be interested in..."
Acknowledge life events respectfully: "Congratulations on your grandchildren!"

Avoid:

Making assumptions about family situations
Insensitive timing (reaching out about survivor benefits too soon after widowhood)
Overly personal references in initial outreach
Discussing specific home values unprompted

Best practice: Let the client bring up personal details first when possible; use demographic data to prepare, not to presume.