Smart Financial Planning

Financial Quotient Test


1. Have you received training or attended course on financial planning ?  
2. Do you keep monthly records of personal/family income and expenses ?  
3. Do you have sufficient cash reserve to pay for the expenses of yourself/ your family in the upcoming 6 months ?  
4. Does your savings ratio (including the MPF, bank savings and regular fund savings) reach the level of 20% of your monthly income ?  
5. In an unfortunate event of death, do your family members have sufficient financial reserve to pay for the current liability and for maintaining the current standard of living ?  
6. Do you prepare an annual balance sheet to show your personal/family assets and liability?  
7. Does your personal/family liability (including mortgage, credit card and installment repayment) reach over 35% of your monthly income?    
8. Is your personal/family debt over 55% of your total assets ?  
9. Before you make an investment decision, do you assess the risk and set out your investment objective, expected return, investment horizon and risk tolerance level?  
10. Do you calculate how much do you and your spouse need for retirement?  

 
     
Do you calculate how much do you and your spouse need for retirement?