local business publication when I stumbled across a "Self-Analysis Financial Planning Test."
No sweat, I thought. I'm a teacher. I don't fail tests; I fail students. Confidently, I picked up my pencil and set about responding to questions such as these:
• Have you selected the proper amortization period for your mortgage?
• Is your will up-to-date? • Could your dependents live comfortably in the event of your death?
• If you plan to retire early, have you set up a suitable savings program?
• How do you plan to pay for your children's education?
• Well over fifty percent of Americans retire in financial hardship. What are you doing to guarantee that you won't be one of them?
• Are your debts structured properly?
Not only could I not give a satisfactory answer to many of the questions, but also I didn't even understand some of them. I caught an ominous glimpse of Susan, our sons, and me living as bag people.
I dropped my pencil, a worried man. It's not that I want to be a multimillionaire, although like everyone else, I do. I'll settle for being comfortable—very comfortable. I'd like to own a nice home and a vacation property, help my children get an education, and retire in relative affluence at a reasonable age. And I want to accomplish all of this without substantially sacrificing my present standard of