Retirement Readiness Quiz

1. How consistently are you saving for retirement?

I save regularly and automatically. I save, but not consistently. I rarely save specifically for retirement.

2. Do you know how much money you'll need to retire at your desired lifestyle?

Yes, I have a clear estimate and plan. I have a rough idea. No, I'm not sure.

3. How would you describe your timeline to retirement?

I have a defined retirement age/date and plan. I have a general idea. I haven't defined my timeline.

4. Have you thought through where your income will come from in retirement?

Yes, I have a clear income strategy. I've thought about some sources. Not really.

5. Have you considered long-term care costs?

Yes, I have a strategy. I'm aware but haven't planned. No, I haven't considered them.

6. Do you have predictable and variable income sources identified?

Yes, I’ve mapped out both. I know some sources. I'm not sure.

7. How confident are you that your savings will cover rising expenses due to inflation?

Very confident — my plan accounts for inflation. Somewhat confident. Not confident — inflation is a major concern.

8. Have you considered longevity for yourself and/or a spouse?

Yes, longevity is built into my plan. I've thought about it but haven't planned. No, I haven't considered longevity risk.

9. Have you considered the best withdrawal strategy to minimize taxes and market risk?

Yes, I have a coordinated withdrawal strategy. I have some ideas but no full strategy. No, I haven't planned withdrawals.

10. Are you aware of your Required Minimum Distributions (RMDs) and their tax impact?

Yes, I understand my RMDs and tax implications. I know about RMDs but not the tax impact. No, I'm not familiar with RMDs.

For Individuals 5–10 Years from Retirement