Financial Health Assessment
Bob and June: General Surgery Household Scores 67 Out of 100
By Ryan Inman
Published · Updated
General surgeryNew attending · Two years post trainingCouple, four children
Financial Health Assessment score
67 out of 100
Corrections
- Needs a workup 0 to 39
- Corrections 40 to 69
- Stable 70 to 84
- Healthy 85 to 100
The score grades the household on 20 measures across seven frameworks. Bob and June lands at 67, in the Corrections band, score 40 to 69.
Bob is an employed general surgeon earning about $550,000 a year, two years past training. June is an HR director earning $100,000 a year. The household earns about $650,000, and it already budgets without June's salary, because she is considering stepping back. The assessment scores the household 67 out of 100, in the Corrections band.
The system underneath the score has run for years. The household has tracked its money for seven years, sorts every dollar into named lanes and sinking funds, maxes both 401k accounts and a 457b, runs backdoor Roth accounts and a maxed HSA, and sends at least $5,000 a month to taxable savings on top. The stated savings rate is at least about 21 percent of the $650,000 gross income, with the 529 flows counted separately. Investments total about $470,000 on the caller's own total.
The gaps are specific and small in number. Household health cover is not stated. The will and power of attorney were completed last fall, and the healthcare directives are still to complete, with no guardian stated for four minor children. June's disability cover is not stated. And the life cover the hosts pressed on, $2,000,000 on a $550,000 income, is about four years of earnings. This file carries no traced target score, and the prescription section states why, in the record's own terms.
22 of 22
Lifestyle Guardrails · full marks
$480,000
Total stated debt · 0.74 times income
$2,000,000
Term life on Bob · about four years of his income
About $650,000
Household income · surgeon plus HR director
At least 21 percent
Savings rate · by calculation, 529 flows counted apart
7 years
Of tracking · every dollar in named lanes
The short version
- The score: 67 out of 100, in the Corrections band. The Lifestyle Guardrails earn the full 22 of 22, while the Protection Stack earns 12 of 22.
- Seven years of tracking shows in the boxes: named lanes at the full 4, the leak at the full 6 with no unaccounted money identified, and wealth first automation at the full 4.
- Total stated debt is $480,000, about 0.74 times the $650,000 income: a $325,000 mortgage, a $100,000 family cabin loan, and a $55,000 student loan refinanced at the end of residency. The Debt Anchor earns the full 10 on the new attending scale.
- Bob holds individual own occupation disability and $2,000,000 of term life. June holds $500,000 of term life, and her disability cover is not stated. The hosts put the life figure at about four years of Bob's income.
- No target score is published for this household. The record states the target is not traceable from the episode's prescriptions, and this page carries that exactly, with no invented number.
Seven years of tracking, and the guardrails show it.
What They Did Right
A two year attending household running a seven year system. This is the machinery already running.
- Seven years of tracking Every dollar sorted into named lanes and sinking funds for seven years. Named lanes earn the full 4 and the leak earns the full 6.
- Guardrails at full marks Savings floor, leak, and automation all grade full: 22 of 22, on a stated rate of at least about 21 percent with wealth paid first.
- The loan call, made on time The student loan was refinanced at 3.5 percent at the end of residency, a deliberate call executed when training ended. The box earns the full 6.
- A budget that already runs on one salary The household budgets without June's $100,000 while she considers stepping back. The step back is priced before it happens.
- Debt at 0.74 times income $480,000 of stated debt across a mortgage, a cabin loan, and the student loan, against about $650,000 of income, with the card balance paid off monthly.
The Score: 67 out of 100
The Financial Health Assessment grades a household across the same seven frameworks and lands the total in a band. Bob and June scores 67, in the Corrections band. This household is scored on the attending rubric, on the new attending fork of the Transition framework.
20
Measures graded
7
Frameworks
67
Bob and June's score
The 3 Bucket Framework earns 7 of 20. Milestones earn 0, because the milestone net cannot be determined from what the intake states. The emergency fund earns 0: $25,000 against stated consumption of about $12,640 a month is about 2.0 months, at the top of the zero band. Named lanes earn the full 4, on seven years of tracking and named sinking funds that sort every dollar. Goals funded earns 3, with dollars flowing to every goal area while the 529 pace and the mortgage payoff timeline sit below the stated targets.
The Physician Wealth Equation earns 12 of 14. The Debt Anchor earns the full 10: total stated debt of $480,000 against about $650,000 of income is about 0.74 times, at or under the new attending full line of 3.0 times. Stretch saving earns 2: a savings rate of at least about 21 percent by calculation sits between the 12 percent partial line and the 25 percent full line.
The Protection Stack earns 12 of 22. Health earns 0, because household cover is not stated. Disability earns 2: Bob holds an individual own occupation policy, and June's disability cover is not stated. Life earns the full 4, on individual term in force on both earners. Umbrella earns the full 4, at $1,000,000 against net assets under $1,000,000 on the stated figures. Malpractice earns 0, type and tail not stated. Estate documents earn 2: the will and power of attorney are in place, the healthcare directives are missing, and no guardian is stated for four minor children.
The Transition framework, on the new attending fork, earns 6 of 10. The loan call earns the full 6: a deliberate student loan refinance, executed at the end of residency at 3.5 percent. Contract clarity earns 0, because a contract or compensation review is not stated.
The Tax Ladder earns 4 of 8, at 2 and 2: maxed pre tax accounts, backdoor Roth accounts, and an HSA are used with no bracket reason stated, and two deliberate moves stand in place, the maxed HSA and the backdoor Roth accounts, with the federal bracket not stated. The Decision Filter earns the full 4 of 4 on five stated goals.
The Lifestyle Guardrails earn the full 22 of 22. The Savings Floor takes the full 12 on a rate of at least about 21 percent. The leak takes the full 6: seven years of full tracking, with no unaccounted money identified. Wealth first automation takes the full 4: payroll deferrals maxed first and 529 drafts on automatic payment, wealth paid first and automated.
| Framework | What it covers | Points |
|---|---|---|
| 02 3 Bucket Framework | Milestones 0, emergency fund 0 at about 2.0 months, named lanes 4, goals funded 3 | 7 of 20 |
| 03 Physician Wealth Equation | Debt anchor 10 at 0.74 times income, stretch saving 2 at at least about 21 percent | 12 of 14 |
| 04 Protection Stack | Health 0 (not stated), disability 2, life 4, umbrella 4, malpractice 0, estate documents 2 | 12 of 22 |
| 05 Transition | Loan call 6, refinance executed at the end of residency. Contract clarity 0, review not stated | 6 of 10 |
| 06 Tax Ladder | Roth against pre tax 2, bracket plus moves 2 | 4 of 8 |
| 07 Decision Filter | Goals written 4, five goals stated | 4 of 4 |
| 08 Lifestyle Guardrails | Savings floor 12, the leak 6, wealth first automation 4, full marks | 22 of 22 |
| Total | Corrections band | 67 out of 100 |
Read the shape, not just the total. The flow frameworks are finished work: Guardrails at full marks, lanes and leak and automation all full, the loan call executed at the end of residency. The remaining points sit in three places: three boxes the record does not state at all, health cover and contract clarity and the malpractice line. One box split by earner, disability, and one box half signed, the estate set, with the directives and the guardian still open while four children are minors. The score is high because the system is old. The gaps are paperwork, not behavior.
The Prescription
No traced fixes, and the open items in the file.
- Add life cover on Bob, sized past four years of income. The hosts priced the current $2,000,000 policy at about four years of his $550,000 income and advised more cover. The life box already grades at full marks on term in force, so no point gain is traced for this item.
- Finish the disability picture on both earners. Raise Bob's $5,000 a month benefit, already in progress on his own statement, and state cover for June, whose disability line is not stated today. The graded gap sits on her line, which the episode's items do not address, so no point gain is traced.
- Complete the healthcare directives and name a guardian. The will and power of attorney stand from last fall. The directives are still to complete, and no guardian is stated for four minor children. No point gain is traced for this item in the record's target basis.
- State the unstated lines and let the umbrella grow with the assets. Household health cover, malpractice type and tail, and a contract review are not stated, and the hosts advised raising the $1,000,000 umbrella as assets grow, a box already at full marks on today's figures. No point gain is traced for this item.
No total is run here, on purpose. The record states the target for this household is not traceable from the episode's prescriptions: the hosts' items sit in boxes that already grade at full marks, life and umbrella, or on the earner whose line already holds the policy, while the graded disability gap sits on the other earner. The score of record stands at 67 out of 100, in the Corrections band, and this page publishes no target number rather than an invented one.
What This Case Teaches
A high score can still be an unfinished file. This household does the daily work at full marks: seven years of tracking, no leak, wealth paid first, the loan call made on time, debt at 0.74 times income. It lands at 67 with the paper unfinished: health cover unstated, directives unsigned, and no guardian named for four children. The open paper boxes are the ones still waiting, at the same desk the finished systems came from.
A full score on flow still leaves the paperwork boxes.
The second lesson is what a target is. A target on these pages is arithmetic traced from a prescription to a box, not a wish with a number on it. When the prescriptions aim at boxes already at full marks, the honest page says so and prints no target. A reader can trust the 67 in this file partly because the file refuses to print a target it cannot trace.
Behind the score
The Household
Bob is an employed general surgeon at about $550,000 a year, two years past training. June is an HR director at $100,000 a year. The household earns about $650,000 and has four children. June is considering stepping back, and the household already budgets without her salary, so the budget runs on Bob's income alone.
Investments total about $470,000 on the caller's own stated total: June's 401k at $140,000 and Roth IRA at $82,000, Bob's 401k at $140,000 and 457b at $48,000, a taxable account at about $20,000 plus a further Vanguard account described at $25,000, and an HSA at $18,000. The account list is partially garbled in transcription, per the record, and the caller's total governs. The 529 accounts for the four children hold about $10,000 in all, with $1,500 a month flowing in. Cash stands at about $50,500 across local and Ally accounts, including a stated emergency fund of $25,000, about 2.0 months against stated monthly consumption of about $12,640.
The budget already runs on one salary. The second salary is the margin.
The tracking system is the household's habit, not its project: seven years of tracking, named sinking funds, and every dollar sorted. The stated savings rate is at least about 21 percent by calculation, from maxed 401k accounts and a 457b, backdoor Roth accounts, a maxed HSA, and at least $5,000 a month planned to taxable savings, against $650,000 of gross income, with the 529 flows counted apart.
Debt sits in three stated lines. The student loan is $55,000, refinanced at 3.5 percent at the end of residency, at $1,607 a month, with just under three years to payoff. The mortgage is $325,000 at 2.875 percent on a 15 year loan refinanced in spring 2020, with about 40 percent equity in the house. A family loan of $100,000, at no interest over four years at $2,083 a month, bought 50 percent ownership of a family cabin. The credit card balance of about $5,000 is paid off each month, with no carried debt. Total stated debt is $480,000, about 0.74 times income.
Protection is bought and partial at the same time. Bob holds an individual own occupation disability policy with Guardian paying $5,000 a month, plus group short and long term disability through work, with an increase in progress. June's disability cover is not stated. Term life stands at $2,000,000 on Bob and $500,000 on June, both 20 year policies in force. An umbrella policy of $1,000,000 is in place. Household health cover is not stated, though an HSA through Bob's work is. Malpractice type and tail are not stated. The will and power of attorney were completed last fall. The healthcare directives are still to complete, and no guardian is stated for the four minor children.
| Household fact | Where it stands |
|---|---|
| Careers | General surgeon, employed, two years post training. HR director |
| Household income | About $550,000 plus $100,000. Household about $650,000. Budget already runs without the second salary |
| Family | Couple, four children |
| Student loans | $55,000, refinanced at 3.5 percent at the end of residency, $1,607 a month, just under three years to payoff |
| Mortgage | $325,000 at 2.875 percent on a 15 year loan, refinanced spring 2020, about 40 percent equity |
| Other debt | Family cabin loan $100,000 at no interest over four years, $2,083 a month, for 50 percent ownership. Card balance about $5,000 paid off monthly, no carried debt. Total stated debt $480,000 |
| Emergency fund | $25,000 stated, inside about $50,500 of cash. About 2.0 months on stated consumption of about $12,640 a month |
| Saving | At least about 21 percent by calculation: maxed 401k accounts and 457b, backdoor Roth accounts, maxed HSA, at least $5,000 a month planned to taxable. 529 accounts $1,500 a month, counted apart |
| Balances | Investments about $470,000 in total per the caller: 401k accounts $140,000 and $140,000. Roth IRA $82,000. 457b $48,000. Taxable about $20,000 plus a Vanguard account at $25,000. HSA $18,000. 529 accounts about $10,000 |
| Disability | Bob: individual own occupation policy with Guardian, $5,000 a month benefit, plus group cover. Increase in progress. June: not stated |
| Life insurance | Bob $2,000,000 for 20 years. June $500,000 for 20 years. Individual term in force on both |
| Umbrella | $1,000,000 policy in place |
| Estate documents | Will and power of attorney completed last fall. Healthcare directives still to complete. No guardian stated for four minor children |
| Goals | Five stated goals |
The Two Frameworks Behind the Score
The score grades 20 measures across seven frameworks. Two of them carry this case: the Lifestyle Guardrails, which score the full 22 of 22, and the Protection Stack, which scores 12 of 22 on bought cover with two lines unstated and the documents half signed.
Framework one
The Lifestyle Guardrails
The Guardrails grade whether today's lifestyle leaves room for the plan: the savings floor, the leak, and whether wealth is paid first. Seven years into a tracked system, all three grade full.
- The savings floor Built
- A savings rate of at least about 21 percent by calculation, from maxed retirement accounts, a maxed HSA, backdoor Roth accounts, and at least $5,000 a month planned to taxable savings. The box earns the full 12 of 12.
- The leak Built
- Full tracking for seven years, with no unaccounted money identified in the stated figures. The box earns the full 6.
- Wealth first automation Built
- Payroll deferrals are maxed first and the 529 drafts run on automatic payment: wealth paid first and automated. The box earns the full 4.
Framework two
The Protection Stack
The Protection Stack grades the coverage that keeps one bad month from ending the plan. The bought layers are real, and the stack still grades 12 of 22, because two layers are unstated and the documents stop halfway.
- Life and umbrella, in force Built
- Term life stands on both earners, $2,000,000 and $500,000, and an umbrella policy of $1,000,000 stands against net assets under $1,000,000. Each box earns the full 4.
- Disability, on one earner stated Partial
- Bob holds an individual own occupation policy at $5,000 a month plus group cover, with an increase in progress. June's disability cover is not stated. The box earns 2 of 4.
- Estate documents, half signed Partial
- The will and power of attorney were completed last fall. The healthcare directives are still to complete, and no guardian is stated for four minor children. The box earns 2 of 4.
Four Years of Income Is Not a Sizing
The first look is the hosts' sentence: the hosts priced the $2,000,000 policy at about four years of Bob's income. The policy is real: a 20 year individual term policy, in force, and the life box grades it at full marks, because the box grades individual term in force on the earner. June holds $500,000 for 20 years beside it, also in force.
The hosts' point is a sizing point, and the score does not grade sizing. Their prescription was more life cover on Bob, and the record's target basis answers it in one line: life sizing is not scored, the box already stands at full marks, and no box moves when the amount grows. The advice stands on this page as advice. It carries no points, and the file invents no target from it.
Four years of income is a fact about the policy. It is not a plan for the fifth year.
The disability line runs the same way. Bob holds an individual own occupation policy paying $5,000 a month, with group short and long term cover through work and an increase already in progress. The hosts advised raising the benefit. The graded gap in that box sits on the other earner: June's disability cover is not stated at all, and the hosts' items do not address her line, which is why the box stands at 2 and why no traced gain stands behind raising Bob's benefit.
An umbrella raise follows the same pattern in the record: as assets grow, the $1,000,000 policy should grow with them, and the box already grades the current policy at full marks against today's stated assets. Three sound pieces of advice, three boxes that cannot pay for them. That arithmetic is the reason this file publishes no target, stated in full in the prescription.
A Will, Four Children, and No Guardian Stated
The second look is the estate box, graded at half marks on a half finished set. The will and the power of attorney were completed last fall. The healthcare directives are still to complete. And no guardian is stated for the household's four minor children. Two of the set's parts stand, two do not, and the box earns 2 of 4.
The guardian line is the one that matters most in this file. Four minors, a will in place, and no stated answer to the question the will exists to answer. The record's prescription set, read whole, never traces a gain to finishing the directives, because its target basis traces no target at all for this household. The item stands here as the file's clearest open paper, with its state stated exactly.
Four children, a will, and no guardian stated.
Around it sit the unstated lines. Household health cover is not stated, though an HSA through Bob's work is stated beside it. Malpractice type and tail are not stated. A contract or compensation review is not stated, which grades the new attending contract box at zero. Each of those boxes waits on a sentence, not a purchase.
Set against the Guardrails at full marks, the pattern is plain. This household finished the daily systems years ago. The unsigned and unstated paper is what is left.
Milestones: Scored on What Is Stated
Inside the 3 Bucket Framework, the milestone checklist tracks the markers a household has already hit. This checklist earns 0 for Bob and June, because the intake never states a milestone list the net can be computed from. The box pays only for stated milestones.
The rest of the bucket picture: the emergency fund earns 0 at about 2.0 stated months, named lanes earn the full 4 on seven years of sorted tracking, and goals funded earns 3 of 6 on flows that reach every goal area below the stated target pace. The framework earns 7 of 20.
Questions this case answers
What score did Bob and June receive on the Financial Health Assessment?
Bob and June scored 67 out of 100, in the Corrections band. The Lifestyle Guardrails earn the full 22 of 22 and the Physician Wealth Equation 12 of 14, while the Protection Stack earns 12 of 22.
Why is there no target score for this household?
The record states the target is not traceable from the episode's prescriptions. The hosts advised more life cover, a higher disability benefit, and a larger umbrella as assets grow. Life and umbrella already grade at full marks, and the graded disability gap sits on June, whose cover the items do not address. This page publishes the score of record, 67, with no invented target.
How does the debt load grade on the new attending scale?
Total stated debt is $480,000: a $325,000 mortgage, a $100,000 family cabin loan, and a $55,000 student loan. Against about $650,000 of income that is about 0.74 times, at or under the new attending full line of 3.0 times, so the Debt Anchor earns the full 10.
What is missing for Bob and June?
Household health cover is not stated, malpractice type and tail are not stated, and no contract review is stated. The healthcare directives are still to complete, no guardian is stated for four minor children, and June's disability cover is not stated. The will and power of attorney were completed last fall.
Sources and Basis
This assessment is built from the household's own intake for the Financial Health Assessment and the episode assessment of it. Every figure on this page comes from that record, and the score is traced box by box under the locked attending rubric.
The attending rubric weights the seven frameworks at 20, 14, 22, 10, 8, 4, and 22, for a total of 100. The bands are Needs a workup from 0 to 39, Corrections from 40 to 69, Stable from 70 to 84, and Healthy from 85 to 100. Attendings are scored on the Transition fork by years since training: the loan call, and the new attending contract.