Financial Assessment

Financial Practices Self-Assessment:

“How Effectively Am I Investing My Time, Energy and Money?”

This assessment is designed for people who are very committed to taking the best possible care of their financial future. There is no “scale” to pass or fail — different people hold themselves to different standards of care when it comes to taking care of their money. In general, the higher the parenthetical score after the question, the more opportunity to improve how effectively you manage the financial topic being evaluated.


Assessment Questions

1. Approximately what does my current standard of living cost me each year?

2. Approximately how much will my cost of living change when I stop working full time?

3. Approximately how much financial help do I hope to provide to others (e.g., children, grandchildren, employees, charities)?

4. Approximately how much do I need to save each year, and what average return on investment (ROI) do I need to achieve in order to maintain my standard of living without having to work later into my 60s than I want to?

5. My thinking about my career and/or business is informed by an independent assessment of how my current earnings/profits could be affected by changes in technology, government policy, demographics, and marketplace competition.

6. At least once during the past 12 months, I have discussed my total financial situation with the following:

7. My primary financial advisor has evaluated the following aspects of my financial situation (check all that apply).
Add one point [1] for each unchecked box:

8. My financial advisor gets paid via (check all that apply):

9. Taking all my liquid and illiquid assets into account, what is my approximate percentage mix of stocks, bonds, real estate, and cash?

10. Taking all my liquid assets (stocks, bonds, cash) into account, how often and how much, do I anticipate that the total value of my assets will decline in value over the course of a calendar year?

11. Taking all my assets into account, I am certain that my investments have what experts consider to be an appropriately diversified mix of stock asset classes (large/mid/small, value/growth, U.S./international) and bond asset classes (US/corporate/foreign, long/short duration, inflation/interest rate adjustable).

12. How did my liquid assets perform last year?

13. I am aware that under current law, many people will pay higher taxes on stock growth in their tax-deferred IRAs and 401(k)s than on the same stock growth in taxable accounts and Roth IRAs.


  • A perfect score is 13
  • A respectable score is 25
  • The more the score exceeds 25, the greater the opportunity for some new kind of action
15. As I reflect on my family’s and my present and future financial situation, I have the following mood:

16. Given my answers above:

17. As I reflect on my answers to the above questions and my assessment score, I would like to stay in touch with McKinley Carter Wealth Services in the following manner: