RMJ Financial Foundation

Quick Gap Analysis

A focused review of the essential protections and wealth-building strategies every household should consider.

This short analysis helps identify areas of your financial foundation that may deserve a closer look. Review each category, note potential gaps, and identify the priorities that should be addressed next.

Build the Foundation Budgeting and emergency reserves

Protect Income & Assets Insurance and liability protection

Build & Grow Wealth Investing and long-term strategies

Financial Foundation Review

Complete Your Gap Analysis

Work through each area below and add any notes that may be helpful during your financial review.

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How to use: Mark “Review” when an item exists but should be evaluated and “Missing” when it is not currently in place. Add important details in Comments.

1. Build the Foundation

Monthly budget(Required)

Review

Missing

A written plan that directs income toward expenses, protection, savings and goals.

Comments

Emergency fund(Required)

Review

Missing

Accessible cash for unexpected expenses and temporary income interruption.

Comments

2. Protect Income and Assets

Term life insurance(Required)

Review

Missing

Affordable income replacement for family needs, debt, mortgage and education.

Comments

Auto insurance(Required)

Review

Missing

Adequate liability, vehicle, medical and uninsured-motorist protection.

Comments

Homeowners or renters insurance(Required)

Review

Missing

Protection for the home or belongings, replacement costs and personal liability.

Comments

Personal umbrella policy(Required)

Review

Missing

Additional liability protection above home and auto policy limits.

Comments

3. Build and Grow Wealth

Automated investment plan(Required)

Review

Missing

Consistent monthly investing that turns financial goals into a regular habit.

Comments

Professional money management(Required)

Review

Missing

Investments selected, allocated, monitored and rebalanced with professional guidance.

Comments

Retirement planning(Required)

Review

Missing

A strategy for accumulation, retirement income, taxes and long-term sustainability.

Comments

College planning(Required)

Review

Missing

A defined savings and investment strategy for future education expenses.

Comments

Your Financial Foundation

Here are a few areas worth a closer look.

Based on the answers you provided, the items below may represent gaps in your current financial foundation. These are not recommendations or a complete financial plan. They are simply areas you may want to discuss further with your financial professional.

Build the Foundation

Monthly Budget

A monthly budget gives your income a job before the money is spent. It can help you coordinate everyday expenses with saving, debt reduction, protection, and longer-term goals.

A good next step: Understand where your money is currently going and establish a repeatable monthly plan.

Build the Foundation

Emergency Fund

An emergency fund provides accessible cash for unexpected expenses or a temporary interruption in income. It can help keep an unexpected event from turning into new debt or forcing you to disrupt longer-term investments.

A good next step: Determine an appropriate emergency savings target based on your household expenses, income stability, and available reserves.

Protect Income & Assets

Life Insurance Protection

Life insurance can help provide financial support for people who depend on your income. Coverage may be used to address income replacement, debts, mortgage obligations, education expenses, and other family needs.

A good next step: Estimate how much financial support your household would need if your income were no longer available.

Protect Income & Assets

Auto Insurance

Auto insurance is an important part of protecting both your vehicles and your broader financial position. Liability limits, uninsured motorist protection, deductibles, and vehicle coverage should be reviewed periodically.

A good next step: Review your current limits and deductibles to make sure they still fit your assets, vehicles, and overall risk exposure.

Protect Income & Assets

Homeowners or Renters Insurance

Homeowners or renters coverage helps protect your home or personal belongings while also providing important personal liability protection.

A good next step: Review replacement costs, personal property coverage, deductibles, and liability limits to see whether your current protection still fits.

Protect Income & Assets

Personal Umbrella Protection

A personal umbrella policy can provide an additional layer of liability protection above the limits of qualifying home and auto policies. This can become increasingly important as income and assets grow.

A good next step: Compare your current liability limits with the assets and future income you are trying to protect.

Build & Grow Wealth

Automated Investment Plan

Consistent investing can turn a long-term financial goal into a regular monthly habit. Automating contributions can make investing part of your normal financial routine rather than something that happens only when extra money is available.

A good next step: Identify an amount that can be invested consistently and determine which goals those dollars should support.

Build & Grow Wealth

Professional Investment Guidance

Professional investment management can help coordinate asset selection, allocation, monitoring, and rebalancing with your broader goals and risk considerations.

A good next step: Review how your current investments are allocated, monitored, and connected to the goals they are intended to fund.

Build & Grow Wealth

Retirement Strategy

Retirement planning is more than accumulating an account balance. A complete strategy can consider how much you need to save, future income needs, taxes, investment risk, and how assets may eventually be converted into sustainable income.

A good next step: Define your retirement goals and evaluate whether your current savings and investment strategy are on track to support them.

Build & Grow Wealth

College & Education Planning

Education costs can become a major future expense. A defined savings strategy can help families plan ahead rather than relying entirely on future cash flow, loans, or withdrawals from other long-term assets.

A good next step: Estimate the education costs you may want to fund and determine how much should be set aside regularly toward that goal.

Date

Your Full Results

Want a copy of your analysis and help reviewing it?

Continue to the next step to enter your contact information. Your completed Financial Foundation Quick Gap Analysis will be sent for review so your RMJ financial professional can help you determine which areas may deserve attention first.

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What happens next?

Your advisor can use the results of this analysis to help identify your highest-priority financial gaps and discuss appropriate next steps.