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RETIREMENT READINESS ASSESSMENT

While financial planning is certainly important as people consider their retirement future, preparation for this event is much more encompassing. This informal questionnaire should help you focus on your readiness for retirement taking into consideration habits and attitudes across many areas, including: social support, health, time management and housing.

Just respond to each of the questions below and your area scores will be automatically calculated. Once all sections are completed, click on ‘Submit’. The resulting picture will provide you with insight as to where you are in your retirement planning.

For each of the eight categories below, please click on a number between 1 and 10. All questions must be answered in order to submit your assessment.



A.	1	2	3	4	5	6	7	8	9	10
	Little knowledge of pension benefits							Exact knowledge of pension benefits

B.	1	2	3	4	5	6	7	8	9	10
	Little knowledge of Social Security benefits including Medicare							Complete awareness of Social Security and Medicare

C.	1	2	3	4	5	6	7	8	9	10
	Have not started financial planning program for retirement							Have been in a disciplined plan for 10 years or longer

D.	1	2	3	4	5	6	7	8	9	10
	Have little knowledge of tax laws affecting retirement							Complete awareness of tax consequences of retirement

E.	1	2	3	4	5	6	7	8	9	10
	Have not planned a comprehensive budget including income and expenses in retirement							Have established a comprehensive retirement budget



A.	1	2	3	4	5	6	7	8	9	10
	Have not considered working after retirement							Have plans to do some type of work, including own business

B.	1	2	3	4	5	6	7	8	9	10
	Do not have a resumé, job search strategy, or business plan							Have a resumé, job search strategy, or business plan

C.	1	2	3	4	5	6	7	8	9	10
	Little or no awareness of the job market, have no interviews scheduled							Explored the job market, interviews lined up, or already established

D.	1	2	3	4	5	6	7	8	9	10
	Have not contacted job placement service agency							Enlisted an agency specializing in career planning and placement for my specialty

E.	1	2	3	4	5	6	7	8	9	10
	Have had no part-time or volunteer work							Have been working volunteer or part-time to best make the transition



A.	1	2	3	4	5	6	7	8	9	10
	Anticipate little or no social support from spouse or partner							Receive a great deal of social support from spouse or partner

B.	1	2	3	4	5	6	7	8	9	10
	Anticipate little or no social support from family members and friends							Talk freely and openly with family and/or friends

C.	1	2	3	4	5	6	7	8	9	10
	Employer and/or organization provides little or no social support or assistance							Employer and/or organization offers classes, clubs, and supportive services

D.	1	2	3	4	5	6	7	8	9	10
	Have little or no involvement in civic, fraternal, volunteer, or service groups							Actively involved in civic, fraternal, volunteer, or service organizations

E.	1	2	3	4	5	6	7	8	9	10
	Do not belong to any retirement groups or associations							Actively involved in several retirement groups



A.	1	2	3	4	5	6	7	8	9	10
	Experiencing considerable stress in other aspects of life							Little or no stress in other aspects of life

B.	1	2	3	4	5	6	7	8	9	10
	Have few leisure and recreation pursuits such as hobbies or sports							Have many recreation and leisure pursuits

C.	1	2	3	4	5	6	7	8	9	10
	Perceive little control over many aspects of retirement							Perceive tremendous control over aspects of retirement

D.	1	2	3	4	5	6	7	8	9	10
	Perceive limited options in retirement							Recognize unlimited options and choices in retirement

E.	1	2	3	4	5	6	7	8	9	10
	Lack emotional and psychological resources to live lifestyle of choice in retirement							Have emotional and other resources to live lifestyle of choice in retirement



A.	1	2	3	4	5	6	7	8	9	10
	Little or no knowledge or understanding of health and lifestyle's influence on life expectancy							Have a thorough understanding of the health and lifestyle variables on life expectancy

B.	1	2	3	4	5	6	7	8	9	10
	In the morning you are often fatigued and stressed-out							In the morning you feel rested and relaxed

C.	1	2	3	4	5	6	7	8	9	10
	Have many health problems or concerns							Have no health problems or concerns

D.	1	2	3	4	5	6	7	8	9	10
	Exercise infrequently and have sedentary lifestyle							Exercise daily and enjoy an active lifestyle

E.	1	2	3	4	5	6	7	8	9	10
	Do not eat a well-balanced diet and have more than 8 alcoholic drinks/week							Eat a well balanced diet and have fewer than 8 drinks a week



A.	1	2	3	4	5	6	7	8	9	10
	Retiring at worst possible time							Retiring at best possible time

B.	1	2	3	4	5	6	7	8	9	10
	Have many financial obligations — tuition, mortgage, etc.							Most large financial obligations have been resolved

C.	1	2	3	4	5	6	7	8	9	10
	Do not have many social events or activities outside of work							Have many activities and social events to keep busy obligations after retirement

D.	1	2	3	4	5	6	7	8	9	10
	Retiring from oppressive work environment, boring routine, or mundane work experience							Retiring to enjoy a more relaxed and leisurely lifestyle which may include some kind of work

E.	1	2	3	4	5	6	7	8	9	10
	View transition to retirement as open-ended and ambiguous							View transition to retirement as a manageable process



A.	1	2	3	4	5	6	7	8	9	10
	Do not have a will or established plans							Have a will and established plans

B.	1	2	3	4	5	6	7	8	9	10
	Have not consulted a tax advisor, financial advisor or an attorney							Have a relationship with attorney, tax advisor, or financial advisor

C.	1	2	3	4	5	6	7	8	9	10
	Inadequate health, life and disability insurance after retiring							Excellent insurance; health, life, long-term care, and disability after retiring

D.	1	2	3	4	5	6	7	8	9	10
	Assets and investments not sufficient to maintain present lifestyle							More than sufficient investment income to live desired retiree lifestyle

E.	1	2	3	4	5	6	7	8	9	10
	Fixed estate plan is based on present dollar value and inflation rate							Estate plan can accommodate inflation and economic cycles



A.	1	2	3	4	5	6	7	8	9	10
	Primary residence with large mortgage							Primary residence is owned free and clear

B.	1	2	3	4	5	6	7	8	9	10
	Do not own any other real estate							Own investment or vacation property free and clear

C.	1	2	3	4	5	6	7	8	9	10
	Have large home equity loan balance							Do not have home equity credit line

D.	1	2	3	4	5	6	7	8	9	10
	Present housing is not desirable for retirement lifestyle							Present housing arrangement ideal for retirement plans

E.	1	2	3	4	5	6	7	8	9	10
	Housing cannot accommodate needs of aging parents or returning children							No inter-generational housing problems anticipated

05/05

Wachovia Securities, the trade name formerly used for Wachovia Securities, LLC and Wachovia Securities Financial Network, LLC, is now Wells Fargo Advisors. Wells Fargo Advisors is the trade name used by two separate registered broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of Wells Fargo & Company. Wachovia is a Wells Fargo Company.

RETIREMENT READINESS ASSESSMENT

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