Analysis of Household Financial Report Card Results

This technical report presents the findings from an analysis of financial report cards completed by 58,406 households through Savology. The report outlines how these households graded their financial lives across various categories, including retirement readiness, emergency savings, insurance, debt, and estate planning. The data reveals that while the overall average grade is a B−, significant gaps exist in specific areas, particularly in estate planning, where over 53% of households lack essential documents. The report details the distribution of grades across subjects, noting that estate planning received the lowest average grade of D+, indicating a critical area of concern. Furthermore, the report highlights trends in household preparedness for estate planning, showing that younger households and those in certain income brackets are less likely to have completed necessary documents. The findings aim to inform stakeholders about the financial health of households and the importance of addressing estate planning deficiencies.