We should review our current financial situation, including our income and expenses so we can make sure we are creating Financial Freedom into our retirement. Let’s schedule a financial date for ________________ day/time and location.
QUESTIONS:
What is your current income gross and net?
How happy are you with your job/career?
·On a scale of 1 -10; 1 is dissatisfied
Are you comfortable discussing money openly and honestly? Why?
·On a scale of 1 -10; 1 is least
·What’s your comfort level with having this discussion?
How do you define financial success?
·What type of steps should we take to achieve financial success?
Let’s begin by reviewing our credit scores and ensure there are no errors or discrepancies:
(Have actual documents to review and discuss)
·Are there any outstanding debts, loans or financial obligations that we need to address?
·How much debt do you/I have? How many active credit cards?
·What is the plan for paying it off? (Your are discussing the actual plan)
·Do you have any outstanding loans or financial obligations?
·Have you ever had any bankruptcies, leans, foreclosures, collections, arrears, that I need to know about?
·Are there other upcoming financial obligations, financial concerns, worries or expenses that we should address (together)?
Let’s look at our combined savings and investments:
Are you currently contributing retirement accounts?
·What amount or percent of your gross income goes to a retirement account?
·What amount to date do you have saved/invested?
·How do we think we are progressing to set ourselves up for a comfortable retirement?
Do we need to (create) adjust our budget or spending habits based on our current financial status?
Is there anything else related to our (family) finances that you think we should discuss or update each other on?
Should we make any long-term financial plans i.e., assets, purchases, sells, etc.
·Are there any new financial opportunities or investments that we should consider?
Do we need to update or revise our wills or other legal documents related to our finances?
·Are there any changes in our insurance coverage or policies that we need to review?
Last questions: How can we better communicate and stay informed about our finances moving forward?