Wealth Management Assessment Tool

Are you building wealth or just helping somebody else get rich?  Answer these 6 simple questions about your personal finances, and if applicable, your business finances to find out if you should be building wealth, reducing debt, eliminating finance charges and making your assets work smarter with Self-Empowered Banking.

Check out the sidebar for an example of how this works.

  1. What is your annual gross income? Annual Gross income = $_____________
  2. What did you spend on finance/interest charges in last year?
    1. Credit Cards
    2. Installment Loans
    3. Mortgage
    4. Car Loans
    5. Equity Loans
    6. Personal Lines of Credit
    7. Business Lines of Credit
    8. Other

    Total Finance Charges Paid = $______________

  3. What percent of your gross income does the total amount of finance/interest charges represent?Total Finance Charges = ________% of your Gross Income
  4. What average rate of return did you earn on your total investments last year? Below are some examples of the types of investments you may have.  Take the average percent of all those applicable to your situation.Average Rate of Return = _________%
    1. Stocks
    2. Mutual Funds
    3. Whole Life Insurance
    4. Real Estate
    5. Annuities
    6. Retirement Accounts (401K, IRAs, etc.)
    7. Savings Accounts
    8. Money Market & Other Interest-Bearing Deposit Accounts
    9. Certificates of Deposits
    10. Bonds (T-Bills, etc.)
    11. Currency
    12. Futures
    13. Other
  5. What is your annual tax rate?Annual Tax Rate = ________%

Subtract the answer to #3 from the answer to #4, then add the negative value of your tax rate (#5) to the answer you got when you subtracted #3 from #4.

If the final number is a negative value, you’re drowning in debt and it’s time to explore Self-Empowered Banking to discover how you can recapture all or part of what you are giving away to others to start building wealth and reducing debt.

If the final number is positive, congratulations!  You are doing something right and you now have the opportunity to build more wealth and keep your self from falling back into debt by exploring Self-Empowered Banking.

NOW is the time to build wealth by exploring Self-Empowered Banking.
Call or email Julie Ann Hepburn at 312.957.9400 x 403.

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