Wealth Plan Annual Assessment.xlsx

	A	B	C	D
1	Wealth Plan Annual Scorecard
2	Please take a few moments to answer each question. Rank your Level of Understanding between 1-10. (1- I have not idea, 10- I am an expert and could teach the topic). Rank your Level of Current Execution between 1-10. (1- I haven't started, 10- I am CRUSHING this) Determine Your Priority Level to Implement in 2022 (Rank 1-10)	Level of Understanding (Rank 1-10)	Level of Execution (Rank 1-10)	Priority Level to Implement in 2022. (Rank 1-10)
3	1. Create Your Wealth Plan
4	Establish Your Balance Sheet. (Rank 1-10)
5	Update Balance Sheet Monthly (Rank 1-10)
6	Has your Net Worth increased this year? do not include increase in value of primary residence (check applicable box)	YES	NO	Do Not Know
7	Establish Your Wealth Plan (Rank 1-10)
8	Evaluate Progress Monthly (Rank 1-10)
9	Are you on track/ahead of plan? (check applicable box)	YES	NO	Do Not Know
10	TOTAL (add 1-10 Ranking Numbers):
11	Percentage Totals (______/40):
12	2. Protection/ Risk Mitigation
13	Risk Mitigation through Auto Insurance: (Rank 1-10)
14	A. If you were to get into an auto accident would your current coverage do everything that you would want it to?	YES	NO	Do Not Know
15	B. Do you fully understand the different components/coverages of your auto insurance policy?	YES	NO	Do Not Know
16	C. Do you know your current limits of liability for bodily injury?	YES	NO	Do Not Know
17	D. Are the limits of liability consistent across all of your vehicles?	YES	NO	Do Not Know
18	E. Is your uninsured/underinsured limits of liability consistent with your bodily injury limits	YES	NO	Do Not Know
19	F. Is your deductible consistent with the proper threshold of where you would make a claim and minimize your premium?	YES	NO	Do Not Know
20	Risk Mitigation through Homeowners Insurance: (Rank 1-10)
21	A. If you were to have a liability claim on your homeowners would you have fully transferred your risk and protected your assets?	YES	NO	Do Not Know
22	B. Is your limit of liability with your homeowners the same as your car insurance?	YES	NO	Do Not Know
23	C. Do you have the proper amount of property coverage including full replacement (as opposed to actual value)?	YES	NO	Do Not Know
24	E. Can you answer yes to ALL of the following questions regarding your homeowner's insurance: Is it the right amount? Is it maximizing your savings? Is it keeping you in the right state of mind, because it is not too high?	YES	NO	Do Not Know
25		YES	NO	Do Not Know
26	F. Have you maximized your multi policy discount in coordination with your auto insurance (same company)?	YES	NO	Do Not Know
27	Risk Mitigation through Umbrella and Excess Policies: (Rank 1-10)
28	A. Do you have an umbrella policy?	YES	NO	Do Not Know
29	B. Do you have the minimum required liability limits of liability on your car and homeowners insurance to eliminate duplicate coverages or costs?	YES	NO	Do Not Know
30	C. Do you have uninsured/underinsured coverage on your umbrella?	YES	NO	Do Not Know
31	Risk MItigation through Disability Insurance: (Rank 1-10)
32	A. Are you in a financial situation where you could handle no income for 3 months?	YES	NO	Do Not Know
33	B. Are you in a financial situation where you could handle no income for 6 months?	YES	NO	Do Not Know
34	C. Do you have an elimination period consistent with minimizing premiums according to what time period you could do without the money?	YES	NO	Do Not Know
35	D. Do you have a cost of living rider to assist with the effects of inflation in case of a claim?	YES	NO	Do Not Know
36	E. Do you have an "own occupation" definition of disability?	YES	NO	Do Not Know
37	F. Do you have a future purchase option to ensure that you can buy more disability insurance if you have a bigger income in the future. regardless of health or injury?	YES	NO	Do Not Know
38	G. Do you have a residual rider to cover partial disability?	YES	NO	Do Not Know
39	Risk Mitigation through Medical Insurance: (Rank 1-10)
40	A. Are you clear about your current plan options and have you properly transferred risk for any potential catastrophic health circumstances?	YES	NO	Do Not Know
41	Risk Mitigation through Long Term Care Insurance: (Rank 1-10)
42	A. Do you have an individual long-term care policy or plan for you and your spouse in the event that either of you needed care in a nursing home, assisted living facility or healthcare?	YES	NO	Do Not Know
43	B. Are you aware a long term care is not considered medical care nor benefits provided by a disability policy?	YES	NO	Do Not Know
44	C. Do you have an accelerated benefit rider on your life insurance?	YES	NO	Do Not Know
45	D. Does your policy have a cost of living rider to help increase the benefit annually?	YES	NO	Do Not Know
46	E. Do you feel your current policy benefit amount will provide an acceptable level of care if you had to use it today?	YES	NO	Do Not Know
47	Risk Mitigation and Wealth Building through Life Insurance: (Rank 1-10)
48	A. Do you have the right amount of coverage (if you were to die, would you leave your family with the lifestyle you want them to have)?	YES	NO	Do Not Know
49	B. Do you understand the different types of insurance and do you have the right type of policy for you?	YES	NO	Do Not Know
50	C. Do you understand the riders on your insurance policy?	YES	NO	Do Not Know
51	D. Do you have a waiver of premium?	YES	NO	Do Not Know
52	E. Can you convert or change the policy if it isn't the right type of policy?	YES	NO	Do Not Know
53	F. Do you have the proper beneficiary assignment?	YES	NO	Do Not Know
54	G. Do you have settlement options in place?	YES	NO	Do Not Know
55	H. Are you utilizing a Whole Life Insurance Policy as a vehicle for wealth creation?	YES	NO	Do Not Know
56	Protection through Cash Liquidity: (Rank 1-10)
57	A. Are you 100 percent confident in the solvency and quality of your bank?	YES	NO	Do Not Know
58	B. Do you have 6 months worth of expenses in precious metals or liquid savings?	YES	NO	Do Not Know
59	C. Do you have at least one month's expenses in cash on hand (in a safe) and another month in precious metals on hand (in a safe)?	YES	NO	Do Not Know
60	Protection through Estate Planning: (Rank 1-10)
61	A. Do you have a properly documented Will?	YES	NO	Do Not Know
62	B. Do you have a properly executed Trust?	YES	NO	Do Not Know
63	C. Do you have a Power of Attorney in case you are incapacitated and cannot make decisions for yourself?	YES	NO	Do Not Know
64	D. Do you have a legacy plan or family constitution to govern your trust?	YES	NO	Do Not Know
65	E. Do you have an estate plan that captures and transfers your human life value assets (your values, philosophies, etc?)	YES	NO	Do Not Know
66	Basic Protections: (Rank 1-10)
67	A. Do you have an emergency preparedness plan like food storage?	YES	NO	Do Not Know
68	B. Do you have an evacuation plan for your home that your family understands?	YES	NO	Do Not Know
69	C. Do you have a 72-hour kit?	YES	NO	Do Not Know
70	TOTAL (add 1-10 Ranking Numbers):
71	Percentage Totals (______/100):
72	3. Tax Management
73	Estate and Entity Plan Established: (Rank 1-10)
74	Finalize Your Entity Structure (Trifecta) Diagram.	YES	NO	Do Not Know
75	Finalize Word doc showing what each entity does and how it is taxed.	YES	NO	Do Not Know
76	Operating business entities are structured correctly (LLC, S-Corp etc).	YES	NO	Do Not Know
77	Additional operating business entities are owned by your holding corp entity	YES	NO	Do Not Know
78	All operating businesses have up to date Operating Agreements	YES	NO	Do Not Know
79	All Partnership Entities have Operating Agreements with Control Levers	YES	NO	Do Not Know
80	Establish your Estate Plan and Trust	YES	NO	Do Not Know
81	All Holding Entities are owned by your Trust	YES	NO	Do Not Know
82	All holding entities have Operating Agreements with Control Levers	YES	NO	Do Not Know
83	Self Directed Retirement and Tax Advantage Accounts Entity Structure Setup	YES	NO	Do Not Know
84	All operating entities, holding entities and retirement accounts have individual bank accounts and financials	YES	NO	Do Not Know
85	Maximization of Tax Advantage Retirement Accounts: (Rank 1-10)
86	Roth Account Setup and Funded	YES	NO	Do Not Know
87	Roth Account Self Directed	YES	NO	Do Not Know
88	Super-Charge Roth Account through Wholesale	YES	NO	Do Not Know
89	Leverage Roth through Partial Promissory Note Sales	YES	NO	Do Not Know
90	Sep IRA Account Setup and Funded	YES	NO	Do Not Know
91	SEP IRA Account Self Directed	YES	NO	Do Not Know
92	Maximization of "Secondary" Tax Advantage Accounts: (Rank 1-10)
93	HSA/HRA Account Setup and Funded	YES	NO	Do Not Know
94	HSA/HRA Account Self Directed	YES	NO	Do Not Know
95	Coverdell Account Setup and Funded (if applicable)	YES	NO	Do Not Know
96	Coverdell Account Self Directed	YES	NO	Do Not Know
97	Family (Kids and Spouse) Roth Account Setup and Funded	YES	NO	Do Not Know
98	Family (Kids and Spouse) Roth Account Self Directed	YES	NO	Do Not Know
99
100	Minimize Tax Liability where possible: (Rank 1-10)