Take three minutes to find out if you are on the road to financial freedom. When you are finished, check your score. Answer YES or NO to each question. Then, download our free Tannery Toolkit for Financial Independence to find out how you can boost your score!
- Are you engaged in a career that satisfies your checkbook as well as your soul?
- In the last 12 months, have you learned a new skill that provides added value to you, your clients or employer?
- Do you work out vigorously for at least 30 minutes a day, six days a week? Honestly?
- Are you free of credit-card debt?
- Do you have a minimum of six months of cash stashed away in an emergency fund?
- Do you max out your tax-advantaged retirement savings, either through your employer or through self-employment? 401(K) or 403(B), IRA, SEP, or Keogh?
- Are your finances well organized--bill-paying, recordkeeping, taxes?
- Do you review your financial plan at least annually, making sure it supports your major life goals such as starting a business, wedding, education, early retirement, and/or career changes?
- Are your key personal and business legal documents up to date, such as a will, business buy/sell agreement, and power of attorney? Do you know where the originals are?
- Have you reviewed your designated beneficiaries for your retirement and life insurance accounts in the last 12 months?
- Have you had a conversation with your spouse or business partner within the last 12 months so they are adequately informed about your finances--assets, accounts, bills, safe deposit box, etc?
- Are you mortgage-free? Two points for you. If you are paying down your mortgage ahead of schedule, one point. Is your current mortgage longer than 15 years? Subtract 2 points!
- Have you reviewed coverage with your insurance professional within the last 12 months so you know you have adequate coverage for your valuables?
- Do you have a current inventory of all your household possessions stored safely off-site to protect you in case of a fire, burglary, or death in the family?
- Did you have a year-end planning meeting with your CPA to limit your tax exposure?
- Has your current financial advisor discussed your financial plan with you within the last 12 months in light of the current economy?
- Do you or does your current advisor have a NONEMOTIONAL buy & sell discipline for your investments?
SCORING: Count up all your honest YES answers and grade yourself. Yes=1 point:
>14 FINANCIAL SUPERSTAR--You are well on the way to becoming financially independent, yet you may still need key advice to optimize your future. Call now if you would like an introductory professional consultation. 214-239-4700. NOTE: this complimentary consultation is not contingent on becoming a client or purchasing any securities.
9-13 FINANCIAL UNDERACHIEVER--It's obvious you have some financial savvy. Yet you aren't doing all the things you know you SHOULD. Download the Tannery Toolkit (right) for some ideas. Don't you think it's time to work with a "personal financial trainer" to get your plan on track? Call us today!
5-8 FINANCIAL WEAKLING--Face it, you need a little more discipline in your life. Download our Tannery Toolkit to find out how we might help you put a customized plan in place.
0-4 FINANCIAL BABY--Unless you are just 12 months out of college or climbing back out of long-term unemployment, there's just no excuse for this low score. The Tannery Toolkit will help you understand your priorities in getting your finances in better shape.
If you would like to review your results with Michael & Tina Tannery, sign up for a consultation today.