Somanous LLC

Retirement Readiness Assessment

How This Assessment Works

This assessment evaluates your retirement readiness across 5 critical areas:

  • Financial Preparedness (Questions 1-8)
  • Healthcare Planning (Questions 9-13)
  • Income Strategy (Questions 14-18)
  • Risk Management (Questions 19-22)
  • Purpose & Lifestyle Planning (Questions 23-25)
Instructions:   Answer each question based on your current situation, then add up your points in each section for your category scores. Use the scoring guide at the end to see where you are doing well and where you might have vulnerabilities.

Start Your Assessment:

Financial Preparedness

Financial Preparedness

1 / 7

1. How much of your pre-retirement income have you saved for retirement already?

2 / 7

2. What percentage of your income are you currently saving for retirement?

3 / 7

 How do you handle market volatility in your retirement accounts?

4 / 7

Are you maximizing available tax-advantaged retirement accounts?

5 / 7

How confident are you that you'll have enough money to maintain your desired lifestyle in retirement?

6 / 7

Do you have an emergency fund separate from your retirement savings?

7 / 7

 How often do you review and adjust your retirement approach?

Your score is

The average score is 4%

0%

Healthcare Planning

Healthcare Planning

1 / 5

How would you handle a major health emergency financially?

2 / 5

Do you have a Health Savings Account (HSA) if eligible?

3 / 5

Have you considered long-term care needs and costs?

4 / 5

 Do you understand what Medicare does and doesn't cover?

5 / 5

 Have you estimated your healthcare costs in retirement?

Your score is

The average score is 0%

0%

Income Strategy

Income Strategy

1 / 5

How would you handle a major market downturn early in your retirement?

2 / 5

Do you have an approach for withdrawing money from your retirement accounts?

3 / 5

 Have you calculated how much annual income you'll need in retirement?

4 / 5

 Do you understand your Social Security benefits and optimization options?

5 / 5

How many sources of retirement income have you planned for?

Your score is

The average score is 0%

0%

Risk Management

Risk Management

1 / 4

How protected are you against major financial risks?

2 / 4

 Do you have estate planning documents in place?

3 / 4

 Is your investment allocation appropriate for your age and risk tolerance?

4 / 4

Do you have adequate life insurance for your situation?

Your score is

The average score is 0%

0%

Purpose & Lifestyle Planning

Purpose & Lifestyle Planning

1 / 3

Have you discussed retirement plans and expectations with your spouse/partner?

2 / 3

How do you plan to maintain social connections and purpose in retirement?

3 / 3

 Have you thought about what you want to do in retirement?

Your score is

The average score is 0%

0%

Let's Tally Your Results!

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100

This will allow you to assess your situation based on your score

  • 85-100 Points: Retirement Ready
Congratulations! You’re in excellent shape for retirement. You have strong plans across most areas and are likely on track to achieve your retirement goals. Focus on fine-tuning your approaches and staying on course.

Recommended Actions:

  • Continue regular reviews and adjustments
  • Consider advanced optimization approaches
  • Help others learn from your success
  • 70-84 Points: Well Prepared with Some Gaps

Good work! You’re on the right track but have some areas that could use attention. Addressing these gaps now can significantly improve your retirement security.

Recommended Actions:

  • Identify your lowest-scoring sections and prioritize improvements
  • Consider working with a financial strategist for optimization
  • Develop more detailed plans in weaker areas
  • 55-69 Points: Moderate Preparation - Action Helpful

You’re making progress but could benefit from accelerating your efforts. There are some gaps in your retirement planning that might impact your future security and lifestyle.

Recommended Actions:

  • Focus on your lowest-scoring areas first
  • Consider increasing retirement contributions if possible
  • Develop comprehensive plans for the five key areas
  • Consider professional guidance to optimize your approach
  • 40-54 Points: Limited Preparation - Action Important
You have some gaps in multiple areas of retirement planning. While there’s still time to improve your situation, you should consider taking some focused actions.


Recommended Actions:

  • Start with financial preparedness - look at increasing savings
  • Get professional help to create a comprehensive catch-up approach
  • Address the most critical gaps first
  • Consider working longer or adjusting retirement expectations
  • Below 40 Points: Challenging - Professional Help Recommended
Your retirement security could use significant attention. Without some changes, you might face financial challenges in retirement

Recommended Actions:

  • Seek professional guidance
  • Consider lifestyle changes to increase savings
  • Explore possible income sources
  • Develop a realistic plan that may include working longer or adjusting retirement expenses

Next Steps Based on Your Results

If You Scored 70+: You’re in good shape! Focus on optimization and fine-tuning. Remain consistent and mindful using these guides. But, if you need help with that, consider checking our VIP Membership for more personalized retirement planning guidance.
If You Scored 55-69: You could benefit from focused action in specific areas. Our website offers VIP Membership that can help you address gaps systematically. We offer plenty of valuable materials and personalized attention to your case.
If You Scored Below 55:  You might benefit from comprehensive planning help. I suggest you consider scheduling a personal consultation with me through our website’s VIP Membership to help you develop a catch-up approach tailored to your situation.

Want Personalized Analysis of Your Results?

This assessment gives you a general overview, but every situation is unique. For detailed, personalized feedback on your specific results and customized recommendations, consider our VIP Membership community:

  • Personal review of assessment results
  • Custom action plan based on your specific situation
  • Quarterly check-ins to track progress
  • Direct access for questions and guidance

Ready to turn your assessment results into a concrete action plan? Contact us about VIP membership for personalized retirement planning guidance.

Learn more about VIP membership