South Florida Hospital News
Friday February 26, 2021
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October 2013 - Volume 10 - Issue 4
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Some Things to Ask Yourself - Your Financial Q & A

1. What role does money play in your life? What’s important about money to you?
 
2. What are your plans regarding retirement? When are you looking to accomplish your plans?
 
3. What types of investments do you favor? Why?
 
4. What are your investment results over the past five years? Are you pleased?
 
5. Would you be pleased with the same results over the next five years? What would you do differently?
 
6. How much time do you spend selecting and managing your investments? How much is your time worth?
 
7. Do you feel you can outperform someone who spends all of his or her time managing investments?
 
8. What would happen to you and your family if your income were to stop today?
 
9. What have you done to enable your family to have an adequate income in the event of your death?
 
10. Have you provided a cash cushion for emergencies, education funding, etc.?
 
11. What role does life insurance play in your financial plans, both personally and in your business?
 
12. How much life insurance do you have? How did you decide on that amount?
 
13. To what extent are your spouse and children involved in your financial decision making?
 
14. What advisors do you use and to what extent?
 
15. How did you get started in your business?
 
16. What makes your business different from the competition? What problems do you foresee?
 
17. What are your plans for your business at your retirement or death or disability?
 
18. What steps have you taken to accomplish your plans for your business?
 
19. Who will ultimately run your business? What are you doing to retain and reward them?
 
20. What are you doing in terms of selective compensation plans for yourself and your key people?
 
21. What impact would the loss of key people have on sales, profits, lines of credit, retirement plans, and stock value?
 
22. How much vacation do you take? What if you were to go on vacation and not return?
 
23. Where do you want your money to go?
 
24. How do you feel about your children receiving a large inheritance? Why?
 
25. When did you last update your will(s) and trust(s)?
 
26. What is the approximate value of your estate?
 
27. What is the potential estate tax impact and what have you done about it? How will the estate taxes be paid?
 
28. To what extent have you made gifts to your children or considering to doing so?
 
29. What are your thoughts regarding giving or leaving assets to a favorite charity or to your community?
 
30. If you knew you only had six months to live, what changes would you make? What if you died last week?
 
31. How do you want to be remembered by your children? Grandchildren? Employees? Community?
 
32. What are your primary concerns and goals and why? What’s really important to you?
 
33. What would you like to accomplish as a result of our discussions? Who else should be involved?
 
34. When was the last time you took a vacation? Did you spend time planning it?
 
35. How much time have you spent planning your retirement? Do you know how much income you will need in retirement? What if your retirement lasts 30 years? Retirement will be your longest vacation.
 
36. If you knew with virtual certainty that you were going to die within the next six months, what changes would you make in your life and in your planning?
 
If you have any questions, ideas or concerns on the above, don’t hesitate to call Lenny Sklawer at (305) 613-1768 or e-mail LskLawer@ft.newyorklife.com. For more information, visit www.lennysklawer.com.
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