Tag: personal finance checklist

Personal Finance Checklist

There is a checklist for almost everything. Checklists are prescriptive by nature and are easy to follow. If you are diligent, you would just plow through the list by priority.

I love checklists! Honestly, who doesn’t?

So I thought, why not create a prioritized personal finance checklist? And this post came about!




As you go through the checklist, the important thing is to see where you have coverage and where you are exposed.

I have done the prioritization to the best of my knowledge.

If you do not agree with the exact prioritization, that is okay.

The more important thing is to determine where you are exposed and determine what steps you plan to take to address them.

If you don’t understand what a particular item in the checklist means, don’t worry.

I will be covering each of these topics in a series of blog posts and will make the series as part of the education page for easy reference.


Personal Finance Checklist

#1 Beneficiaries

#2 Short Term and Long Term Disability Insurance

#3 Estate Planning (Will / Living Trust, Power of Attorney Health, Power of Attorney Finances)

#4 Life Insurance

#5 Emergency Funds

#6 Budgeting / Cash Flow Management

#7 Retirement Planning / Saving for Retirement

#8 Paying Off High Interest Rate Debt (Credit Cards)

#9 Saving for Kids College Education

#10 Investing (Taxable Investment Account)

#11 Tax Planning


As you can see, there is a lot more to personal finance than saving, investing, and retirement.

You will hear a lot of talk about saving, investing, and retirement. However, you will not hear much talk about the other topics.

Of course, talking about investing is more interesting than talking about disability insurance.

I don’t like to think or talk about disability just like you.

But I need to talk about it objectively from a personal finance perspective.

It is something that needs to be taken care of and has a much higher priority and is close to the top of the list.

Are you following me? I think so…

Now that you have had a chance to see the items on the personal finance checklist, it is time to get your pencil and paper out.

It is time for you to check off items for which you have coverage, circle items you need to understand or understand better, and finally mark the items that you need to act on.


I will be honest with you. I will start out by telling you that I need to work on Estate Planning and Tax Planning. I am lacking in these areas.

I have been deferring the estate planning. Shame on me!

On the tax planning side, I had this eye balling approach which seemed to work for the past decade. I used to get a refund of about a few hundred dollars every year.

However, for 2015, my eyeballing backfired on me. I just wrote a big check to Uncle Sam.

So, for 2016, I have made it a goal to complete my estate planning and tax planning so that I wouldn’t be in for a surprise.



What about you? Where are you exposed? What concerns you the most from the personal finance checklist? What would you like to learn more about? What action steps are you planning to take to address the identified gap(s)? I would love to hear your feedback. 


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