Personal Financial Assessment

1. Do you have an emergency reserve equal to at least 3 months of expenses? (Count the following toward your reserve: all bank accounts and the value of marketable securities in a brokerage account. If you have a Home Equity Line of Credit, count 25% of the unused credit available.)

Yes
No

2. Do you have a written budget that shows how much you spend in different categories, and how much you want to spend in those categories?

Yes
No

3. Do you have a 401k plan at work with an employer match? (If you are not sure, answer yes in this assessment, then ask your employer.)

Yes
No

4. Have you calculated how much retirement income you will have at your current savings rate?

Yes
No

5. Do you pay off your credit cards in full every month?

Yes
No

6. Do you currently own your own home? (Answer “yes” even if you own your home but have a mortgage.)

Yes
No

7. Have you paid off all non-mortgage debt? (Count credit cards, car loans, student loans, etc.)

Yes
No

8. Do you contribute at least 6% of your income to your 401k or self-employed retirement plan?

Yes
No

9. Do you save enough that you will be able to retire with no reduction in your standard of living? (If you are not sure, answer no.)

Yes
No