General Financial Checklist

General Financial Checklist

Name
Name
First
Last

Cash Flow

I have a saving/spending strategy that is thought out and maintained.
I have appropriate levels of debt/income, or, for the debt I have, there is a payoff strategy in place
I have a sufficient buffer in place for unexpected expenses/opportunities that may arise.

Risk Management

My loved ones are covered financially in case of an accident, disability, or my death.
I understand how my health insurance plan works and have the appropriate plan for my situation.
I have credit monitoring or a credit freeze in place.

Investments

I have financial goals and a well-thought-out plan to meet those goals, including saving and investment strategies.
I periodically review my investment portfolio and goals.
I take steps to avoid common investing pitfalls like trying to time the market, emotional investing, failing to diversify, etc.

Taxes

I have a tax planning strategy in place.
I review accounts annually, intending to minimize lifetime taxation.
I am working with a tax professional if my tax situation has any amount of complexity.

Estate Planning

I have all these documents in place, and I have reviewed them with an attorney.*
My estate plan is communicated to the executor/trustee.
My estate planning documents are available for reference.**
Review these documents*

  • Beneficiaries on all applicable accounts
  • A durable financial power of attorney
  • A healthcare power of attorney (patient advocate)
    • Filed with the local hospital and/or all physicians’ offices ahead of time
    • Shared with the person named the patient advocate

Review these documents**

  • All financial accounts documented
  • The number of financial institutions minimized