When was the last time you answered these questions?

I love my career. I get to help my clients plan for their children’s or grandchildren’s education, family trip, retirement, family legacies, and many more financial concerns my clients bring to the table. While going through the planning process, I ask a lot of questions, some of which are tough to answer, but the answers are vital to a plan that has meaning. How long has it been since you answered some of these questions:
Do you know how much you save or spend each year?
What is my current net worth?
Am I borrowing money the most efficiently?
How much am I investing in my own human capital or that of my children and grandchildren so they can earn the most during their working years?
Do I have the proper choices in my retirement or 401(k) plan and is it enough to allow me to retire when I intend to?
Do I have the proper amount in an emergency fund?
If something were to happen to me, will my family be able to put everything together?
Do I have the proper amount of insurance so my family will be taken care of if I die, become disabled or am sued?
Does long term care make sense for me?
What is my risk tolerance and how much risk am I taking right now?
Have I named the proper beneficiaries on my insurance policies and retirement accounts?
What is my greatest extravagance?

I’m sure there are a number of important questions that I didn’t include on this list. I’d love to hear yours so that I can write about them in the future.

disclosures:http://www.hechteffect.net/?page_id=31