I got a B+. According to the tool I need more life insurance and I pay too much for housing. It is definitely not a surprising conclusion.
Monday, April 20, 2009
My Financial Health
Money magazine has a pretty cool tool that measures how financially fit you are. Of course a tool like this could never know the whole story, but nevertheless it's fun.
I got a B+. According to the tool I need more life insurance and I pay too much for housing. It is definitely not a surprising conclusion.
I got a B+. According to the tool I need more life insurance and I pay too much for housing. It is definitely not a surprising conclusion.
13 comments:
Thanks for posting this. I tried it and also got a B+, the lower grade for retirement savings and life insurance. Food for thought!
hi there,
Thanks for the post. I'm going to use the tool and post on my blog!
Cheers,
Jessie
I got a b+ too. I don't have a very big e-fund and no life insurance!
I got a B+ for having no life insurance. But… I see no reason for it until I'm married or have kids since I'm so young.
haha, wow b+ here too! i thought having $350k in life insurance would be good, but i guess not ;) fun tool nonetheless
Fun tool! I got a B+. :)
Seems I am "normal" compared to you guys. B+ here too: No life insurance and not enough retirement savings.
I think that the life insurance thing is a flaw in the tool and makes it too cookie-cutter. You aren't supposed to have life insurance unless there are people who depend on you financially.
Very interesting tool. Thanks for sharing. I scored a B. I had to lie about my age as the youngest they would accept is 25 and I am 24. I thought that was strange but, oh well. I need work on my diversification, life insurance, and building my emergency savings.
Crystal I'm glad to hear you got a B, I was beginning to think that the tool only gave B+'s. Anon, you are tight the tool isn't perfect, but it is interesting nonetheless!
I got a B too, marked down for not enough life insurance (I have no dependents), company stock (it's given to us and I can't sell it), and not enough retirement savings. It's a cool little tool but of course can't represent all situations.
Looks like a lot of us got B+ (including me!)
How did you post that image on your blog? I also got a B+, need more emergency savings (working on it) and life insurance even though I have a $100,000 policy and no dependents, odd. Surprisingly, they said I have my debt under control... It feels like I barely do sometimes.
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