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Completing Setup Checklist
Completing Setup Checklist
Eric Zhong avatar
Written by Eric Zhong
Updated over 6 months ago

WizeFi’s Onboarding Checklist

Hey there! This is WizeFi’s master checklist for completing the setup phase. By the end of this checklist, you will have successfully entered your financial accounts, goals, and income. Once you enter this information, you will be able to see your financial independence projections which show you what age you can reach financial freedom!

Step 1: Goals

  • Emergency Savings Target is reasonable

  • General Savings Target is reasonable

  • Desired Monthly Income at Financial Freedom is reasonable

  • Pension/Social Security entered if applicable

  • Inflation rate is reasonable

  • Investment rate of return is reasonable

Step 2: Income

  • For this income, use net monthly income after taxes

  • Side hustles

  • Actively withdrawing pension/social security

  • Variable income is represented as a comfortable monthly amount

Step 3: Accounts

  • Checking account

  • Emergency savings account

  • General savings account

  • Credit cards and other non-productive debt

  • Auto loan

  • Auto as an asset (manual account)

  • Primary residence as an asset (manual account)

  • Primary residence mortgage account

  • Investment property as an asset (manual account)

  • Investment property mortgage account

  • Retirement Accounts added (IRA, 401k, etc)

  • Other investment brokerage accounts

  • Other assets (art work, collectors items)

  • Insurance: Auto / Home insurance

  • Insurance: Life (Term / Perm)

  • All minimum monthly debt payments are correctly entered

  • All monthly contributions are correctly entered (checking, savings, investment, etc)

Step 4: Projections

  • Review the exact date you'll be able to reach financial independence if you continue the way you have been.

  • See WizeFi's build in wealth potential guideline.

  • See the exact date you will be debt free.

Questions for your coach: Insert any questions or feedback you have for your financial coach regarding this onboarding process. Write down what went well, what can be improved, how you felt about the process, etc.

Congratulations! You are now ready to create your financial independence plan. This is a huge step towards reaching financial freedom.

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