The True Wealth Index

Most people want to know the answer to a simple question: “Am I doing all right?”

That may sound simple, but when it comes to your financial life, it is not always easy to answer.

You might have a good investment portfolio but still wonder whether your income will be enough to support your chosen lifestyle. You may have a retirement plan in place but still have questions about taxes, health care, estate planning, or whether your spouse would be financially secure if something happened to you. You may be doing a lot of things right, while still having one or two important gaps that deserve attention.

That is why we developed a diagnostic tool called The True Wealth Index.

The True Wealth Index is designed to help people measure their progress toward long-term financial goals in a more organized and practical way. It is based on the seven-step wealth management process we developed to help clients prepare for and live well in retirement.

In his book, Atomic Habits, author James Clear writes: “Goals are good for setting a direction, but systems are best for making progress.”

That is exactly the idea behind the True Wealth Index.

We all have goals. We want to retire comfortably. We want our money to last. We want to avoid unnecessary taxes. We want to protect ourselves and our families. We want to leave things in good order for the people we love.

But goals alone are not enough. You also need a system for measuring where you stand, identifying what needs attention right now, and deciding what to work on next.

The True Wealth Index is built around 50 important questions centered around seven major areas of financial life:

The first step is Vision. What do you want retirement to look like? Not just financially, but personally. Where will you live? How will you spend your time? What kind of life are you trying to support?

The second step is Spending. Do you know what it will cost to maintain your chosen lifestyle? Have you planned for inflation, irregular expenses, health care costs, and the occasional surprise?

The third step is Income. Where will your retirement income come from? Social Security, pensions, annuities, portfolio withdrawals, other sources? And in what order should those income sources be used?

The fourth step is Investments. Is your portfolio designed to support your goals? Is it properly diversified? Does it balance the need for current income with the need for long-term growth?

The fifth step is Protection. Are you protecting your health, your wealth, and your privacy? This includes insurance, Medicare planning, long-term care planning, identity theft prevention, and cybersecurity.

The sixth step is Taxes. Are you managing your tax situation as efficiently as possible? Have you considered issues such as required minimum distributions, Roth conversions, charitable giving strategies, and Medicare IRMAA surcharges?

The seventh step is Legacy. Are your estate documents up to date? Have you named beneficiaries on all of your accounts? Are those accounts titled properly? Have you clearly communicated your wishes to the people who may one day need to carry them out?

The beauty of a diagnostic tool like the True Wealth Index is that it can turn a complicated financial picture into something more understandable. It helps you identify what’s working, what may be missing, and what steps could make the biggest difference.

In other words, this is not just about having a financial plan on paper. It is about having a process to get it done.

Your life will change. Tax laws will change. Markets will change. Health needs, family responsibilities, and personal priorities may all change over time. A good planning process should be able to adjust as those changes occur.

That is what true wealth management is really about: not simply creating a plan once, but continuing to measure, refine, and improve it over time.

The better you understand where you stand today, the better decisions you can make about tomorrow.