Are You On The Right Track? Take The Quiz To Find Out!
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:
8-10 points;You are a financial wunderkind, and we would consider hiring you. |
6-8 points;Good job, but it would appear there may be some cracks in the armor that you might want to fill. |
4-6 points;Ruh Roh! You have been lucky, but your approach to planning is akin to buying a lottery ticket instead of contributing to your 401K. |
2-4 points;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!