The Retirement Readiness Quiz
Let’s take a look at what you’ve done to prepare for your retirement. There are no wrong answers, it’s just an assessment to see where you land on the path to retirement.
*Used by permission from the Forbes release of
The All-Weather Retirement Portfolio by CEO Randy L. Thurman.
Do you know how much you will receive in Social Security benefits?
Social Security benefits are an important consideration in retirement.
Have you decided when to take Social Security benefits?
Do you have a spending plan for retirement including health expenses?
Health expenses can be drastically higher in retirement. You will want to have a good plan in place.
When did you last review your life and health insurance?
Have you determined how you will provide for long-term healthcare?
When did you last update or review your will?
Keeping your estate plan up to date is incredibly important for you and for your heirs.
Have you calculated how much income you need for a comfortable retirement?
Determining your retirement income is critical to making sure your money lasts.
How recently did you determine your net worth?
How diversified are your assets?Check all that apply.
What will you do with your company pension plan?
Which professionals have you consulted with regarding retirement?
Having a knowledgable team of professionals guiding you is a key to your success.
If you’re married, is your spouse retired or planning to retire?
Planning ahead for what life will look like in retirement is important to your happiness level in retirement.
Have you decided where you want to live?
Do you know what interests or work you will pursue in retirement?
Have you researched health, lifestyles, living arrangements, and financial aspects of retirement?
Start planning immediately.
Maybe you have not thought much about it. We suggest you start planning immediately so you are well-prepared for retirement.
You have some work to do.
You have made a little headway, but should start getting serious about planning.
You are on the right track.
You have a pretty good handle on retirement. But, to be sure you are on the way to a worry-free income for the rest of your life, you will need to develop a long-term strategy for asset allocation that will ease the impact of taxes and inflation on your portfolio.
You are doing a good job.
You are doing a lot of things the right way. Remember it’s always important to have a solid team of professionals to back you up when you have questions or need additional advice about investments or other matters.