Personal Financial Scorecard

Personal Financial Scorecard

No matter what your needs are, planning for the future is important and NexJenn Financial Services can help. It's good to have a realistic picture of your finances, your goals and what you might be overlooking. Start now by completing this personal financial scorecard.
How to use the scorecard:

Each 'yes' answer is worth one point, and each 'no' answer is with 0 points. Review each question carefully to help you identify areas for improvement. We can work with you to determine what steps to take next to help improve your score.
First Name *
Last Name *
Email *
example@example.com
Investment Planning

Asset Allocation

	Yes	No/Not sure
Do you have an investment strategy?
Do you understand your risk tolerance?
Have you identified ways of diversifying to reduce risk?
Have you identified when you'll need to withdraw funds?

Calculation

Tax efficiency

	Yes	No/Not sure
Do you have an the right balance between taxable and tax-deferred accounts?
Have you set aside dollars to cover upcoming tax obligations?
Do you have a strategy to withdraw funds in the most tax efficient manner?

Calculation

Minimizing costs

	Yes	No/Not sure
Is your investment strategy cost-effective?
Are you minimizing unnecessary turnover of investments?
Do you invest in individual securities vs mutual funds?
Have you adopted strategies to minimize the tax cost of investments held in taxable accounts?

Calculation

Benefits

	Yes	No/Not sure
Do you make the most of the benefits available to you at work?
Are you participating in your company retirement plan and taking advantage of employer matching contributions?
Do you have a plan for exercising and selling employee stock options (if applicable)?

Calculation
Investment Planning Score
Retirement and cash flow planning

Retirement planning

	Yes	No/Not sure
Do you have a plan to stop working when you want to or if you have to?
Have you identified probable sources of retirement income (i.e. social security, pension)?
Have you calculated the capital you will need to fund retirement from investments and have a plan to accumulate it?
Have you planned for unexpected costs in retirement (i.e. health care, long-term care or caring for a loved one)?

Calculation

Budgeting

	Yes	No/Not sure
Do you know how much you spend each month?
Do you have a budget? Does everyone follow the budget?
Have you considered costs for caring for dependents (children or parents)?
Do you have enough cash to cover deductibles and other expected payments?

Calculation

Savings

	Yes	No/Not sure
Do you have 3-6 months cash to cover expenses in the event of an emergency?
Do you know how much you need to save each month to reach your goals?

Calculation

Debt management

	Yes	No/Not sure
Have you eliminated as much non-deductible debt as possible?
Do you have lines of credit available in case of an emergency?
Do you know your credit score?
Do you check your credit reports regularly to ensure your identity hasn't been compromised?

Calculation
Retirement and cash flow planning score
Risk management planning

Life insurance

	Yes	No/Not sure
Do you know how much life insurance you need?
Do you know what type of policy would be best to meet your goals?
If you have a life insurance policy, is the policy owned by a trust?
Have you cancelled unnecessary coverage?

Calculation

Health insurance

	Yes	No/Not sure
Are you and your family members covered?
Have you considered the appropriate deductibles and amount of coverage needed?
If applicable, do you understand Medicare eligibility requirements?

Calculation

Disability and long-term care insurance

	Yes	No/Not sure
Would you and your loved ones be supported if a catastrophic event occurred?
Have you determined if you need to insure your income (disability policy)?
Are you paying premiums with after-tax dollars where possible?
Do you know the costs associated with nursing home care?

Calculation

Property and liability

	Yes	No/Not sure
Do you have enough insurance to cover replacement costs of your home?
Do you have additional protection as needed for floods and/or earthquakes?
Have you raised deductibles for losses you can afford to pay?
Do you have umbrella coverage?

Calculation
Risk management planning score
Estate planning

Wills and trusts

	Yes	No/Not sure
Do you have a will and has it been updated since your last major life event?
Have you transferred assets to your living trust (if applicable)?
Do you understand the way your documents work?
Do your beneficiaries know the location of these documents and the right person to contact?

Calculation

Asset titling

	Yes	No/Not sure
Have you designated beneficiaries on all retirement accounts and life insurance policies?
Have you made designations on bank accounts, brokerage accounts and car titles?
Have you considered whether some of your assets should be solely in your name?

Calculation

Advanced directives

	Yes	No/Not sure
Do you have health care proxies and durable powers of attorney for financial decisions?
Have they been updated since the last life event such as birth, divorce or death?
Do you have HIPAA authorizations and living wills?
Have you provided the appropriate parties with a copy?

Calculation

Gifts and charity

	Yes	No/Not sure
Is it important for you to leave assets to your loved ones and/or charity?
Do you have a strategy for gifts to loved ones? Have you executed it?
Do you have a strategy for charitable contributions? Have you executed it?
Have you reviewed these considering recent life changes like health or an inheritance?

Calculation
Type a question
Estate planning score
Total Score
The above scores help reflect if there is a gap in your financial plan. If your Total Score falls below 40, or if your score for any of the individual sections is below 10, please contact your financial advisor to discuss. If you don't have a financial advisor, we would be happy to discuss it with you.
Should be Empty:

Now create your own Jotform - It's free! Create your own Jotform

Personal Financial Scorecard

Investment Planning

Retirement and cash flow planning

Risk management planning

Estate planning