Financial Planning Score – Single with Children Welcome to your Financial Planning Score! Fill out the quiz as honestly as you can. The objective is to give you an idea of where you are, not to pretend to be somewhere you're not (yet). We WILL give you your score at the end, no email or sign-up required. If you'd like to get some personalized suggestions of how to increase your score, you can put your name and email at the end (we'll also get a copy of your score so we can personalize the suggestions for you). We will not sell or give your email to anyone else. Rate on Scale of 1-5: I know where all my income goes each month. 1. Not at all. 2. 3. 4. 5. Down to the dollar. Rate on Scale of 1-5: I feel in control of my income and expenses. 1. Not at all. 2. 3. 4. 5. Total Control Rate on Scale of 1-5: I am saving enough to reach my goals. 1. Not even close. 2. 3. 4. 5. I probably save too much. Rate on Scale of 1-5: I know where everything is and what it's worth. 1. Not at all. 2. 3. 4. 5. I know it all, and my Net Worth. Rate on Scale of 1-5: I completely understand investing. 1. I know it exists. That's about it. 2. 3. 4. 5. I could be a Financial Advisor. Rate on Scale of 1-5: I have an Investing Plan and follow the plan. 1. What's an Investing Plan? 2. 3. 4. 5. I have one and follow it religiously. I have approximately the following percentage of Stocks to Fixed Income (bonds, cash, etc): I have no idea. 40% Stocks, 60% Fixed Income 60% Stocks, 40% Fixed Income 70% Stocks, 30% Fixed Income 80% Stocks, 20% Fixed Income >90% Stocks, <10% Fixed Income When the Market Crashed in 2020, while it was down and before it returned I: The market crashed? I hadn't noticed. Switched some stocks to cash/bonds Did nothing. Bought more stock while it was on sale. Rate on Scale of 1-5: How confident are you that you will pay the least amount of taxes over your LIFETIME? 1. I take it one year at a time. 2. 3. 4. 5. I have a plan to never pay a dime more than I need to. Who files your taxes? I use H&R Block/Jackson Hewitt/Similar I file my own taxes. I use a CPA/EA I need to find someone... Do you have a Will? No... Yes, but I think it's outdated. Yes, it is current. Our life insurance situation is: I have my basic employer life insurance or no insurance. I have some term insurance. I only have permanent life insurance I am paying on. I have paid-up permanent life insurance I am paying on plus term insurance I have calculated and own the exact right amount of term life insurance. Do you have a Trust? No... Yes, but I think it's outdated. Yes, it is current. My income insurance situation is: If I get sick/injured, I'm screwed. I've got group long-term disability insurance only. I've got group and personal insurance. I'm covered. Our life insurance situation is: I have my basic employer life insurance or no insurance. I have some term insurance. I only have permanent life insurance I am paying on. I have paid-up permanent life insurance I am paying on plus term insurance I have calculated and own the exact right amount of term life insurance. My income insurance situation is: If I get sick/injured, I'm screwed. I've got group long-term disability insurance only. I've got group and personal insurance. I'm covered. Rate on Scale of 1-5: I understand my current health insurance completely. 1. I don't understand it at all. 2. 3. 4. 5. Yes, I have incorporated it into my overall plan. Rate on Scale of 1-5: I am confident I am fully covered and am getting the most value for my Home & Auto insurance. 1. I'm probably underinsured or over paying. Or both. 2. 3. 4. 5. I check it every couple years with a broker. I am getting the best value. Rate on Scale of 1-5: I am fully on track to retiring when I want to. 1. Certainly not. 2. 3. 4. 5. Absolutely! Rate on Scale of 1-5: I have a plan in place to stay/get on track. 1. No, not at all. 2. 3. 4. 5. Yes I am working the plan! Rate on Scale of 1-5: I have a plan in place to stay/get on track. 1. No, not at all. 2. 3. 4. 5. Yes I am working the plan! How much time can you devote to learning about and working on your finances? Again, answer has no affect on your score. Answer honestly so we can tailor our tips to you specifically. Maybe and hour a month. Maybe. I could commit a few hours per month. I could do an hour a week. I can commit several hours per week, every week, forever. I could spend some up front time on it, but then would love to spend only an hour a month. Rate on Scale of 1-5: I am fully on track to retiring when I want to. 1. Certainly not. 2. 3. 4. 5. Absolutely! Name Phone Email Time is Up! Time's up
