HENRY’s reach out to me all of the time with important questions like:
- “Is my 401(k) too aggressive/conservative?”
- “Are my accounts titled properly?”
- “Can I buy my first house without delaying my retirement plans?"
- “Am I saving enough so my kids can go to college one day without accruing loans?"
But fundamentally all of these questions boil down to one
“Am I on the right track to achieving everything I’m setting out to?”
Put another way: “Am I doing everything I can to maximize my future?”
These quiz questions will let you know if you’re on your way.
You get 1 point for each "yes" answer.
|Do you know how much your expenses run you each month?|
|Do you know how much you are able to save each month?|
|Do you have your lifetime financial goals written out and broken down based on expected cost & order of priority?|
|Do you have a process for allocating money into pre-tax, post-tax, or Roth investments depending on your tax bracket each year?|
|Do you know what your "risk number" is and what it means to your investments?|
|Do you have a plan for what happens if you pass away prematurely or get sick before retirement?|
|Is "all" of your "stuff" properly titled so that if something happens to you it goes to the right persons?|
|Do you understand your potential biggest financial risk in retirement: Sequence of Return risk?|
|Do you have any type of encrypted, cloud based, "financial portal" that aggregates ALL of your assets and provides a secure digital vault for all of your financial/legal documents.|
|When making financial decisions, do you "wing it" and hope for the best, or do you use a financial decision center that takes ALL of your financial information, goals, risk, assets, and expenses and uses probability theory to provide a best outcome scenario?|
What your score is telling you:
You are a financial wunderkind, and we would consider hiring you.
Good job, but it would appear there may be some cracks in the armor that you might want to fill.
Ruh Roh! You have been lucky, but your approach to planning is akin to buying a lottery ticket instead of contributing to your 401K.
You probably should have cheated or called a friend for help when taking this quiz.
Falling short of 8 points?
Schedule a call with Gideon!