Have you ever wanted to compare your financial status to your peers without them knowing all about your debts, income, and overall net worth? Well, thanks to FlexScore, now you can! I was contacted by Jeff Burrow and Jason Gordo a couple of months ago, and they asked me if I would like to read a book that they had recently written, and if I liked it, then I could spread the word of both their book and their website to my friends and readers.
The Teachings of FlexScore
It was quite refreshing to get a hold of a finance book that did not promise wealth beyond your imagination or a way to get around the tax laws. This book was simple, yet effective. They discuss principles that are taught in “The Millionaire Next Door” and let the reader know the importance of making a plan for his/her financial future.
When those gray hairs start taking over, there are many people who are ready to retire emotionally and just automatically assume that they will be able to leave their job at the age of 65. But, if they did not financially prepare for that day, then they most likely will not be in a position to live without their main source of income. Jeff and Jason strongly believe in responsible decisions, conscious planning, and fruitful rewards through consistent investments. I absolutely loved the book, but even more so I love what they are doing online.
If you head to http://www.flexscore.com, you will be able to make a profile, plug in your financial numbers, and the site will give you a score that tells you how close you are to retirement. If you get a score of 1,000, you are ready to retire today! But, if your score is anything less than that, you might want to keep your day job for a little while longer.
My score is 476, which isn’t too shabby considering that I am only 29 years old (yes, I am still hanging on to my 20’s!) and have fairly lofty retirement goals. My peers (as shown on Flexscore) have an average score of 373, so I feel good knowing that I am doing slightly better than others in terms of our future retirement planning.
Now that my assets and debts are logged into my account, I can simply log back in whenever I am curious about my score (that has hopefully gone up since I last logged in) and take a look at the latest number. Whether it has gone up or down, I can quickly evaluate the breakdown page and see what has happened that has caused the change. If I wish, I can make the proper adjustments and then go back about my life and do my best to take actions that will continue to raise that number!
Keep Your Goals in Front of You and Stay Motivated
I absolutely love what Jason and Jeff are doing with their new FlexScore site. They have created a tool that has sparked financial interest for many that could have previously cared less. Some enter in their numbers and are pleased with where they stand financially, but there are quite a few people that enter their data and soon realize that they need to be putting away a lot more money for their retirement!
The comparison tool is the kicker for me. While I don’t often compare myself to the average person (because I hold myself at a ridiculously high standard most of the time), it is good to know where I stand vs. those that are in my age group and in my general area of the U.S. If I happened to get a number that was lower than most, then I would have to start kicking it in gear to make up for lost time. This tool gives everyone the opportunity to see where they stand financially at the moment, how they compare to their peers, and it even gives direction on how you can improve your score in the short term and the long term. Thanks Jeff and Jason!
What is your FlexScore number? Are you happy with where you stand vs. your peers?
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.