Zaki Financial Planning Readiness Quiz

1. Do you have a detailed monthly budget that you track regularly?

2. Do you have an emergency fund to cover at least 3-6 months of living expenses?

3. Do you have a clear plan for paying off any high-interest debt (e.g., credit cards)?

4. What percentage of your income do you contribute to a retirement account (e.g., 401(k), IRA)?

5. Do you have a plan in place for your children's (or future children's) education costs?

6. Are you on track to meet your retirement savings goals?

7. Do you have all the necessary insurance policies (life, disability, long-term care, umbrella) to protect your assets?

8. Have you created a will or a trust to guide the distribution of your assets?

9. Have you designated a financial Power of Attorney and a Healthcare Power of Attorney?

10. Have you reviewed and updated the beneficiary designations on your bank, retirement, and insurance accounts?

11. Do you have a list of all your debts, including interest rates and minimum payments?

12. Do you know your current credit score?

13. Do you have a strategy for managing spending on wants versus needs?

14. Do you regularly review your bank and credit card statements for accuracy?

15. Are you currently saving for a down payment on a home or another major purchase?

16. Do you know your marginal tax bracket?

17. Do you contribute to a Health Savings Account (HSA) if you're eligible?

18. Have you reviewed your life insurance coverage in the last 3-5 years?

19. Do you have disability insurance to protect your income if you can't work?

20. Do you have an umbrella liability insurance policy?

21. Do you know the difference between a Traditional and a Roth retirement account?

22. Have you diversified your investments across different asset classes?

23. Do you have a strategy for dealing with market downturns?

24. Have you calculated your "Financial Independence" number (the amount you need to retire)?

25. Are you on track to meet your retirement savings goals?

26. Do you have a living will or an Advance Healthcare Directive?

27. Have you designated a guardian for your minor children?

28. Do you have a Letter of Instruction to assist your Executor?

29. Have you considered asset protection strategies beyond insurance, such as trusts or business titling?

30. Do you have a plan for charitable giving, either during your life or as part of your legacy?