WealthGuard Back to Home

Financial Planning Checklist

Track your progress toward financial freedom with our comprehensive, step-by-step guide. Your progress is saved automatically.

Overall Progress 0%

Financial Foundation 0/4

Open a high-yield savings accountAim for 4.5%+ APY to beat inflation Build a 3-6 month emergency fundKeep it liquid and easily accessible Track your net worth monthlyAssets minus liabilities = true financial picture Set up direct deposit & auto-paymentsAutomate bills to avoid late fees

Budget & Debt Management 0/4

Create a zero-based budgetEvery dollar gets a job before the month starts List all debts with interest ratesSort by highest rate (avalanche) or lowest balance (snowball) Negotiate or refinance high-interest debtCredit cards & personal loans are priority targets Set up automatic debt paymentsConsistency beats intensity in debt payoff

Investment Strategy 0/4

Maximize employer 401(k) matchFree money: contribute at least enough to get 100% match Open & fund an IRA (Traditional or Roth)Check 2024 contribution limits & income phaseouts Diversify with low-cost index funds/ETFsTarget expense ratios under 0.10% Rebalance portfolio annuallyMaintain your target asset allocation

Protection & Insurance 0/4

Secure adequate health insuranceReview plan tiers, deductibles & HSA eligibility Evaluate term life insurance needsRule of thumb: 10-12x annual income for dependents Consider disability insuranceProtects your #1 asset: your earning ability Review umbrella liability coverageExtra layer of protection for assets & lawsuits

Tax Optimization 0/4

Max out tax-advantaged accounts401(k), IRA, HSA, 529, FSA Track deductible expensesCharitable giving, business, medical, education Set aside tax reservesFreelancers: 25-30% for federal/state taxes Harvest tax losses annuallyOffset gains with losses to reduce taxable income

Estate & Legacy 0/4

Create a will or trustDictates asset distribution & guardianship Update all beneficiary designationsAccounts, insurance, retirement override your will Assign power of attorney & healthcare proxyEnsures trusted decisions if you're incapacitated Organize digital assets & passwordsUse a secure password manager with emergency access