Test Your Risk IQ

1. Do you have most of your retirement savings in a company 401(k), 403(b), or 457 retirement plan?
Yes   No

2. Do you have company stock in your 401(k)?
Yes   No

3. Is your retirement plan one of the largest assets you own?
Yes   No

4. Have you recently left your company or retired, or will you be retiring soon?
Yes   No

5. After you retire, you will be leaving will you be leaving your retirement account with your former employer?
Yes   No

6. will you be taking a lump sum distribution from your company plan at any time?
Yes   No

7. Will your retirement account savings pass according to the terms in your will?
Yes   No

8. Have you named a trust to be the beneficiary of your retirement plan?
Yes   No

9. Is your estate the beneficiary of your retirement plan?
Yes   No

10. Will you be leaving your retirement assets to your spouse?
Yes   No

11. Have you been putting off instructing your beneficiaries what to do, and what not to do with your retirement plan when they inherit?
Yes   No

12. Do you want to be able to control the payouts on your retirement accounts after your death to prevent your beneficiary from squandering money?
Yes   No

13. Will you be inheriting money from anyone?
Yes   No

14. Are you confident that your bank, broker, or mutual fund company will have all the necessary documentation on your retirement account that your beneficiaries will need?
Yes   No

15. Are you unsure of the exact amount that the IRS requires you to withdraw from your retirement account, and when?
Yes   No

16. Do you own your own life insurance policy?
Yes   No

17. Will you be rolling cash, stock or other property over from one retirement account to another?
Yes   No

18. Has it been more than a year since you last updated the beneficiary forms for every retirement account you own?
Yes   No

19. Will you need to tap into your retirement savings before you reach age 59 1/2?
Yes   No

20. Have you heard of the Roth IRA but taken no steps to find out more or set one up?
Yes   No

Total Yes           Total No

Total YES points equates to the approximate percentage of your retirement savings likely to go the US Treasury, and the total number of NO answers represent the percentage of how much you and your family are likely to keep.

So What Should I Do Now??