Fiscal Fitness Assessment Directions: The statements below will help you to think about and assess how satisfied you are with many aspects of your financial life. Please mark your level of satisfaction for each statement. First Name Last Name Email Address Phone Number What are the top three financial matters that keep you awake at night or that your consider top priorities? Organization and Planning Our financial affairs are well organized and in good order. Agree Somewhat Agree Somewhat Disagree Disagree I know what my family’s long term goals are and can quantify them. Yes Somewhat No Not Sure Our personal financial situation is straightforward, I enjoy managing it and I feel I am doing a good job. Yes Somewhat No Not Sure We have a document records system that allows us (or our loved ones) to quickly put our hands on whatever we need. Yes Somewhat No Not Sure I can safely say that very few financial details fall through the cracks in my life. Yes Somewhat No Not Sure I receive regular, easy to understand, consolidated reporting on all our family holdings across all of our entities and family members. Yes Somewhat No Not Sure Investments I know what rate of return we need from our investments to ensure we meet our family’s key objectives. Yes Somewhat No Not Sure I am confident that our asset allocation reflects our risk and return expectations. Yes Somewhat No Not Sure Our investments have been objectively reviewed recently and I am confident we have the right ones in place and in the right combinations. Yes Somewhat No Not Sure We have a written Investment Policy Statement for our overall investment portfolio that clearly lays out the objectives, limitations, review process and accountability. Yes Somewhat No Not Sure We have a regular review process in place to evaluate the success Yes Somewhat No Not Sure Risk Management I am comfortable that we have the appropriate level of risk in our portfolio. Yes Somewhat No Not Sure We have a process in place to review non-portfolio risks that could impair our wealth. Yes Somewhat No Not Sure We have a process in place to review our insurance to ensure it covers our significant risks. Yes Somewhat No Not Sure I understand all our insurance policies and am confident that they are appropriate and up-to-date. Yes Somewhat No Not Sure Tax Planning and Structuring I am comfortable that we are taking advantages of all the tax efficiencies available to us. Yes Somewhat No Not Sure I am confident that the tax location of our investment assets is optimal. Yes Somewhat No Not Sure I understand how the use of a trust or other tax structures could decrease the amount of tax we pay. Yes Somewhat No Not Sure I fully understand the tax implications of any U.S. assets we own (e.g. real estate, securities etc.) and have protected ourselves accordingly. Yes Somewhat No Not Sure I am comfortable that we are taking advantages of all the tax efficiencies available to us. Yes Somewhat No Not Sure Estate Planning and Succession I have a clear idea of our estate objectives and how much our heirs will receive and when. Yes Somewhat No Not Sure Our wills have been updated in the past three years. We have properly-executed powers of attorney for financial and health care purposes. Yes Somewhat No Not Sure Cash Flow Management I have calculated how much capital I will need to be able to retire and to maintain our standard of living. Yes Somewhat No Not Sure I know what our family expenses are and feel confident that they are reflected in my wealth plan. Yes Somewhat No Not Sure I have a game plan in place to prepare for a liquidity event, such as retirement, receiving my deferred compensation or cashing in my shares or partnership interests Yes Somewhat No Not Sure Advisors I have an advisor who is knowledgeable and objective regarding all of the issues listed above. Yes Somewhat No Not Sure My advisor is proactive and regularly anticipates the key issues that need attention in my life. Yes Somewhat No Not Sure I know all the fees we are paying to our advisors and understand the value we receive and the impact on our net worth. Yes Somewhat No Not Sure Family Issues Our family has frequent, open, healthy dialogue about money and financial issues. Yes Somewhat No Not Sure I am comfortable that my spouse and children will be able to manage if something happened to me. Yes Somewhat No Not Sure I am comfortable that our family net worth is not likely to be at risk if one of my children gets divorced. Yes Somewhat No Not Sure If any of my family is a U.S. citizen, resident or green card holder, I understand the tax and compliance risks facing the family and have addressed them. Yes Somewhat No Not Sure I feel comfortable that our children are financially well-educated and sufficiently responsible to inherit the assets that are likely to be left to them. Yes Somewhat No Not Sure Time is Up! Time's up Leave a Reply Cancel replyCommentEnter your name or username to comment Enter your email address to comment Enter your website URL (optional) Save my name, email, and website in this browser for the next time I comment.
