What’s your financial health score in retirement?

About to start enjoying the good life in retirement, away from all the stress and deadlines of the workplace? Or already there? Congrats! Honestly, we’re a bit envious! But, at the back of your mind, do you sometimes wonder if you’ve taken everything into account to stay financially healthy? It’s time to check your financial health score.

Retirement quiz

Give yourself two points for everything you’ve already incorporated into your retirement planning.
Give yourself one point if you’ve thought about it, but know there’s more planning that could be done.
Give yourself zero points if you haven’t thought about it.

___ I can list my short-term and long-term financial and life goals.

___ I have an annual budget that includes my income, expenses and taxes.

___ I’ve automated my bill payments so I don’t have to think about them.

___ I’ve made well-informed decisions about when to start taking government benefits such as the Canada Pension Plan (CPP) and Old Age Security (OAS).

___ I have an emergency fund to cover unexpected costs.

___ I have a diversified portfolio of investments to meet my current and future needs.

___ I’ve reviewed my investments within the last year to make sure they’re still appropriate.

___ I have a will that provides instructions on how I want my assets distributed on death.

___ I have a power of attorney so someone I trust can make decisions for me if I’m incapacitated.

What’s your score? ___ / 18

If you scored 0-9:

There’s room for improvement here, and we’d love to help. Let’s start checking off more boxes in your planning.

If you scored 10-15:

You’re well on your way to great financial health. Let’s work together to nudge your score even higher.

If you scored 16-18:

Wow — you’re acing this. Remember to get in touch whenever you need to update your planning.

Experience the benefits of personalized retirement planning

Working with a Prospera advisor on your retirement planning can help you define your unique goals and implement strategies specifically designed to reach them.

Your advisor can help you budget now and in retirement, manage debt, save taxes, invest sensibly, protect yourself and your family with insurance, and create a legacy for the next generation.

We’ll celebrate your successes and work with you to adjust your retirement plan if life throws you a curve ball. In the end, you can be more confident you'll get to live your retirement dreams — because you've planned for them.

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Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated. Credential Securities is a registered mark owned by Aviso Wealth Inc.