Financial Health Assessment #2: Money and Investing

This assessment will expose areas where you may be leaking money. It also reveals where you may have a lack of understanding and knowledge of what is actually happening with your money and investments. For example, are your funds invested in places where you have no idea what is happening with your money? Do you even understand what factors produce the return with your investment dollars, or are you guessing?

*Your personal information is kept strictly confidential.

Financial Health Assessment #2: Money and Investing

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Financial Health Assessment: Money and Investing

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1. Credit

Please take a few moments to answer each question quickly. If you don’t know the answer, mark uncertain rather than looking for your documents. (Due to the stage in life you are in, the country you live in, or your current financial circumstances and/or philosophies, there may be answers that do not apply. Please select the N/A option if that is the case.)

Do you know what your credit score is?

Yes

Unsure

N/A

Is your credit score above 780?

Yes

Unsure

N/A

Do you know how to maintain or improve a good credit score? (Hint: Paying on time is only about a third of what makes up a score)

Yes

Unsure

N/A

Do you have access to a business line of credit?

Yes

Unsure

N/A

2. Loans

Is the current method you are using with your loans the safest, most efficient and effective way to accomplish your objectives?

Yes

Unsure

N/A

Have you negotiated the best interest rate on all of your loans?

Yes

Unsure

N/A

Have you maximized the tax advantages and savings available by keeping your loan interest tax deductible?

Yes

Unsure

N/A

Do you have a specific and coordinated plan that will pay off any loans that you would like to eliminate?

Yes

Unsure

N/A

3. Personal Bank

Do you have your own personal banking system (where you can self finance and capture interest normally paid to banks)?

Yes

Unsure

N/A

4. Accounting and Taxes

Do you have tracking and bookkeeping systems?

Yes

Unsure

N/A

Are you proactively, before tax year ends, looking at strategies that you could incorporate to save taxes?

Yes

Unsure

N/A

Have you reviewed previous years’ tax returns with someone other than your current accountant to see if there’s a possibility to amend returns and recapture overpayment of tax?

Yes

Unsure

N/A

Is your business set up optimally from a tax and legal perspective?

Yes

Unsure

N/A

Do you have an exit strategy (from a tax perspective) for your retirement plans, stocks, real estate or other investments?

Yes

Unsure

N/A

Have you turned any expense related to your business into a tax deduction?

Yes

Unsure

N/A

5. Long-term Investments

Do you have all investments properly documented and organized?

Yes

Unsure

N/A

Do you know the person responsible for generating the returns, therefore the real money managers (not asset gatherers) that are making the decisions of what investment to buy or sell and when?

Yes

Unsure

N/A

Do you have enough knowledge about the markets you are in to know when to move completely out when certain indicators are triggered?

Yes

Unsure

N/A

Are you happy with the current performance of your investments?

Yes

Unsure

N/A

Do your investments produce consistent cash flow?

Yes

Unsure

N/A

Have you applied risk mitigation/management strategies to your investment?

Yes

Unsure

N/A

Do you understand the economics (supply and demand) or, in other words, the value proposition of your investments? (Why and how they earn interest?)

Yes

Unsure

N/A

Have you minimized the drag on your investments (admin fees, legal fees, fund manager fees, account fees, etc)?

Yes

Unsure

N/A

Do your investments leave you in a place of clarity and peace of mind because you are confident in what you are doing?

Yes

Unsure

N/A

Do you have a strategy to handle market fluctuations?

Yes

Unsure

N/A

Do you have a reason other than potential rate of return that you invested in your current holdings?

Yes

Unsure

N/A

Have you either completely avoided private investments or at least added collateral to minimize the risk of a private investment?

Yes

Unsure

N/A

Do your investments properly reflect your values and fit into your financial plan?

Yes

Unsure

N/A

Have you achieved Economic Independence before speculating with your money?

Yes

Unsure

N/A

6. College Funding

Do you have a philosophy on assisting your children with college?

Yes

Unsure

N/A

Do you understand the fees and risks involved with state sponsored college funding (529’s etc.)?

Yes

Unsure

N/A

Have you applied risk management strategies and contingencies by not being completely dependent on the stock market?

Yes

Unsure

N/A

If your child were to be accepted into an out-of-state or Ivy league caliber school, would you be able to support them financially?

Yes

Unsure

N/A

Have you considered or are you currently using trusts as a way to fund your child’s education?

Yes

Unsure

N/A

7. Living Wealthy

Are you living in your ideal home?

Yes

Unsure

N/A

Are you taking time away from work to enjoy your family, and or friends, without money being an excuse preventing you from doing those things today?

Yes

Unsure

N/A

Are your investments bringing forth an abundance mindset, meaning, you have a clear financial plan that brings you confidence and that you know is aligned with your Soul Purpose?

Yes

Unsure

N/A

Are you clear on your purpose and how to make your purpose profitable?

Yes

Unsure

N/A

Are your personal finances guided by your overall purpose and legacy?

Yes

Unsure

N/A