Financial Health Assessment
Julian and Sofia: Surgical Subspecialist Household Scores 51 Out of 100
By Ryan Inman
Published · Updated
Surgical subspecialtyEstablished · About 3 years post fellowshipCouple, no children stated
Financial Health Assessment score
51 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. Julian and Sofia lands at 51, in the Corrections band, score 40 to 69.
Julian is a surgical subspecialist and W2 employee earning about $1,100,000 a year, about three years after fellowship. Sofia is a full time W2 professional with a doctorate, earning about $100,000 a year, about one year into practice. Her specialty is not stated. The household earns about $1,200,000. The assessment scores the household 51 out of 100, in the Corrections band.
The saving is the engine. The household saves about $35,000 a month, about $420,000 a year against about $1,200,000 of income, a rate of about 35 percent. Retirement investments stand at about $250,000, and taxable investments at about $450,000, held largely for a house purchase in the next year. Bank cash totals $75,000 across three banks: $5,000, $20,000, and $50,000. Against stated expenses of about $20,750 a month, that cash is about 3.6 months of cover.
The giving runs beside the saving. The household gives about $10,000 a month and supports Julian's parents and brother, and it carries a $10,000 loan at 0 percent for his parents' car. Julian's student loan stands at $250,000, refinanced to 1.95 percent fixed for five years at $5,100 a month, down from $300,000 at the end of fellowship. Total stated debt is $260,000. The missing layer is paperwork: no estate documents at all, and no life cover stated for Sofia.
$35,000/mo
Stated saving · about 35 percent of income
$5,000,000
Term life on Julian · laddered total
$0
Estate documents · none in place
$1.2 million
Household income · surgeon plus doctorate professional
$260,000
Total stated debt · 0.22 times income
55
Score with the one traced fix · Corrections band
The short version
- The score: 51 out of 100, in the Corrections band. The Physician Wealth Equation earns the full 14 of 14 and the Decision Filter the full 4 of 4, while the Transition framework earns 0 of 10.
- Saving runs at about $35,000 a month, about 35 percent of about $1,200,000 of income, with about $450,000 in taxable accounts held largely for a house purchase in the next year.
- The Debt Anchor earns the full 10: total stated debt of $260,000 is about 0.22 times household income, under the established full line of 2.0 times.
- Julian carries cover: individual disability of $15,000 a month plus employer cover of $12,500 a month, and laddered term life totaling $5,000,000. Sofia has employer disability only, and no life cover is stated for her.
- One traced fix moves the score 4 points to a 55: complete the estate documents. There are none today.
A $1.2 million income, $35,000 a month saved, and no estate documents.
What They Did Right
A household running attending scale flows. This is the machinery already running.
- Saving at 35 percent of income About $35,000 a month, about $420,000 a year against about $1,200,000 of income. The Savings Floor and stretch saving both earn full marks.
- Debt at 0.22 times income Total stated debt of $260,000, most of it a student loan already cut from $300,000 to $250,000. The Debt Anchor earns the full 10.
- Giving at $10,000 a month, on purpose The household gives about $10,000 a month and supports Julian's parents and brother, as a stated line of the plan, beside the saving.
- Laddered term life of $5,000,000 Julian's individual term ladder totals $5,000,000, with individual disability of $15,000 a month on top of employer cover.
- Five goals, stated Five household goals are on the record, and $35,000 a month flows toward the financial independence and house goals. The Decision Filter earns the full 4.
The Score: 51 out of 100
The Financial Health Assessment grades a household across the same seven frameworks and lands the total in a band. Julian and Sofia scores 51, in the Corrections band. This household is scored on the attending rubric, on the established fork of the Transition framework.
20
Measures graded
7
Frameworks
51
Julian and Sofia's score
The 3 Bucket Framework earns 5 of 20. Milestones earn 0, because the milestone net cannot be determined from what the intake states. The emergency fund earns 2: $75,000 of bank cash against about $20,750 a month of stated expenses is about 3.6 months, inside the 3 to 5 month partial band. Named lanes earn 0, because dollar sorting is not stated. Goals funded earns 3, with $35,000 a month flowing to financial independence and house goals that are not fully funded.
The Physician Wealth Equation earns the full 14 of 14. The Debt Anchor earns the full 10: total stated debt of $260,000 against about $1,200,000 of income is about 0.22 times, at or under the established full line of 2.0 times. Stretch saving earns the full 4: a calculable rate of 35 percent clears the 25 percent full line, with investable assets under $1,000,000.
The Protection Stack earns 12 of 22. Health earns the full 4, with cover paid for both spouses. Disability earns 2: Julian holds an individual policy plus employer cover, while Sofia holds employer cover only. Life earns 2: Julian's laddered individual term is in force, and no life cover is stated for Sofia. Umbrella earns the full 4, at $2,000,000 against about $775,000 of stated investable assets and bank cash. Malpractice earns 0, type and tail not stated. Estate documents earn 0, because none exist.
The Transition framework, on the established fork, earns 0 of 10. Education debt finished earns 0: the student loans are not paid off and are not on a deliberate forgiveness plan being executed. They sit on a refinance payoff. No lingering consumer or vehicle debt earns 0: a $10,000 vehicle loan for his parents' car sits outside the mortgage line.
The Tax Ladder earns 2 of 8, at 0 and 2: no deliberate Roth against pre tax reason is stated, and the bracket is not stated, with one deliberate move in place, HSA use alongside the 401k. The Decision Filter earns the full 4 of 4 on five stated goals.
The Lifestyle Guardrails earn 14 of 22: the Savings Floor at the full 12 on a 35 percent rate, the leak at 0 because the unaccounted amount is not stated, and wealth first automation at 2, on a stated regular saving split of $35,000 a month with automation not stated.
| Framework | What it covers | Points |
|---|---|---|
| 02 3 Bucket Framework | Milestones 0, emergency fund 2 at about 3.6 months, named lanes 0 (sorting not stated), goals funded 3 | 5 of 20 |
| 03 Physician Wealth Equation | Debt anchor 10 at 0.22 times income, stretch saving 4 at 35 percent | 14 of 14 |
| 04 Protection Stack | Health 4, disability 2, life 2, umbrella 4, malpractice 0, estate documents 0 | 12 of 22 |
| 05 Transition | Education debt finished 0, loans on a refinance payoff. No lingering debt 0, a $10,000 vehicle loan stands | 0 of 10 |
| 06 Tax Ladder | Roth against pre tax 0, bracket plus moves 2 | 2 of 8 |
| 07 Decision Filter | Goals written 4, five goals stated | 4 of 4 |
| 08 Lifestyle Guardrails | Savings floor 12 at 35 percent, the leak 0, wealth first automation 2 | 14 of 22 |
| Total | Corrections band | 51 out of 100 |
Read the shape, not just the total. The offense is at full marks: the Wealth Equation, the Savings Floor, and the Debt Anchor all grade full. The points sit in defense and in finishing: a Protection Stack at 12 of 22 with estate documents at zero, a Transition framework at zero while the loans run their refinance course, and the malpractice line, which the record does not state. The household saves like a finished file and is documented like a starting one.
The Prescription
One traced fix, and the open items behind it.
- Complete the estate documents. This is the Protection Stack, and it gains 4 points, moving estate documents from 0 to 4. A will, a power of attorney, and a healthcare directive. No children are stated in this household, so the set is the adult set.
- Individual cover for Sofia: the file's open item. She earns about $100,000 a year and holds employer disability only, with no life cover stated. The hosts' items in the record do not name her cover, so this is an open item, not a prescription. The hosts did advise more short term life cover for Julian. No point gain is traced for this item in the record's target. The life and disability boxes grade what is in force, and the traced target runs through the documents.
- State the malpractice line and the disability wording. Malpractice type and tail are not stated, and Julian's own occupation wording is not stated. Both boxes grade at their stated values today. Stating the terms is what lets the next reading grade them. No point gain is traced for this item.
- Buy a cheaper house than the $1,500,000 jump. A cheaper house that could become a rental if the private equity sale in three to four years forces a move, with the accounts and banks consolidated and the giving run through a donor advised fund. No point gain is traced for this item.
Run the traced fix and the arithmetic is 51 plus 4, a score of 55. The gain is 4 for completing estate documents. A score of 55 out of 100 keeps the household in the Corrections band.
What This Case Teaches
The rate is not the file. The paperwork is. This household does two hard things at once: it saves 35 percent of a $1.2 million income and it gives $10,000 a month away, on purpose, while renting a one bedroom apartment. The score still lands at 51, because the estate documents box sits at 0 of 4 and the Transition box at 0 of 10, while disability and life cover sit at half marks, 2 of 4 each.
Fund the documents at the same speed as the accounts.
The second lesson is the order of cover. The household insured its largest income in layers, laddered life, individual disability, employer disability, and an umbrella over the assets, and left its second income with employer cover only and no life cover stated. Cover follows income in this file, one earner at a time. The prescription the record traces runs to the documents. The second earner's cover is the file's open item behind them.
Behind the score
The Household
Julian is a surgical subspecialist earning about $1,100,000 a year as a W2 employee, about three years after fellowship. Sofia holds a doctorate and works full time as a W2 professional at about $100,000 a year, about one year into practice. Her specialty is not stated in the record. The household rents a one bedroom apartment while it saves and gives at attending scale.
The balances follow the flows. Retirement investments stand at about $250,000. Taxable investments stand at about $450,000, held largely for a house purchase in the next year, across four taxable accounts. Bank cash stands at $75,000 across three banks. Investable assets total about $700,000, plus the $75,000 of cash, under $1,000,000 in all.
The saving runs at attending speed. The documents have not started.
Giving is a stated line of the household, at about $10,000 a month, alongside support for Julian's parents and his brother. The hosts answered the giving with a structure point, a donor advised fund, and answered the account spread with a consolidation point: four taxable accounts and three banks doing work one account and one bank could do.
Debt is small against this income. Julian's student loan is $250,000, refinanced to 1.95 percent fixed for five years, at $5,100 a month. He left fellowship with $300,000. Sofia states no student debt. A $10,000 loan at 0 percent covers his parents' car. Total stated debt is $260,000, about 0.22 times income. There is no mortgage. The household rents. Credit card and other debt are not stated.
Protection is built on one earner and open on the other. Both spouses pay for health cover, $250 a month for both. Julian holds an individual disability policy paying $15,000 a month, at $6,000 a year, plus employer disability of $12,500 a month. His own occupation wording is not stated. Sofia has employer disability only and no individual policy. Julian holds laddered individual term life totaling $5,000,000. No life cover is stated for Sofia. An umbrella policy of $2,000,000 is in place. Malpractice type and tail are not stated. There are no estate planning documents, and no children are stated.
| Household fact | Where it stands |
|---|---|
| Careers | Surgical subspecialist, W2, about 3 years post fellowship. Doctorate professional, W2, about 1 year into practice (specialty not stated) |
| Household income | About $1,100,000 plus about $100,000. Household about $1,200,000 |
| Family | Couple, no children stated. Supports parents and a brother |
| Student loans | Julian $250,000 remaining (was $300,000 at fellowship end), refinanced at 1.95 percent fixed for five years, $5,100 a month. Sofia none stated |
| Other debt | $10,000 loan at 0 percent for his parents' car. No mortgage, renting. Total stated debt $260,000 |
| Emergency fund | $75,000 of bank cash against about $20,750 a month of stated expenses, about 3.6 months |
| Saving | About $35,000 a month stated, about 35 percent of income. Giving about $10,000 a month |
| Balances | Retirement investments about $250,000. Taxable investments about $450,000, largely for a house purchase in the next year |
| Disability | Julian: individual $15,000 a month at $6,000 a year, plus employer $12,500 a month. Own occupation wording not stated. Sofia: employer cover only |
| Life insurance | Julian: laddered individual term totaling $5,000,000. Sofia: none stated |
| Umbrella | $2,000,000 policy in place |
| Estate documents | None |
| 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 Physician Wealth Equation, which scores the full 14 of 14 on the saving rate and the debt load, and the Protection Stack, which scores 12 of 22 because the cover is built on one earner and the documents do not exist.
Framework one
The Physician Wealth Equation
The Equation grades the debt load against income and the savings rate against its bar. On about $1,200,000 of income, this household is at the top of both.
- The debt anchor Built
- Total stated debt of $260,000 against about $1,200,000 of income is about 0.22 times, at or under the established full line of 2.0 times. The box earns the full 10 of 10.
- Stretch saving Built
- A calculable savings rate of 35 percent clears the 25 percent full line, with investable assets under $1,000,000. The box earns the full 4.
- The saving split Partial
- About $35,000 a month flows out as saving and about $10,000 a month as giving, on stated expenses of about $20,750 a month. The flows are stated. Dollar sorting is not, and that box sits in the 3 Bucket Framework at 0.
Framework two
The Protection Stack
The Protection Stack grades the coverage that keeps one bad month from ending the plan. Here the income cover on the main earner is real, the second earner's cover is thin, and the document layer is empty: 12 of 22.
- Disability and life, on one earner Partial
- Julian holds individual disability of $15,000 a month plus employer cover, and laddered term life of $5,000,000. Sofia holds employer disability only, and no life cover is stated for her. Disability earns 2 of 4. Life earns 2 of 4.
- Umbrella Built
- A $2,000,000 policy stands against about $775,000 of stated investable assets and bank cash. The box earns the full 4.
- Estate documents Missing
- No documents exist: no will, no power of attorney, no healthcare directive. The box earns 0 of 4, and it is the one traced fix in this file.
The $35,000 Month
Start with the flows, because the flows are the file. About $35,000 a month goes to saving, about $10,000 a month goes to giving, and stated expenses run about $20,750 a month, on household income of about $1,200,000. The calculable savings rate is 35 percent, which clears every full line the rubric sets for a household with investable assets under $1,000,000.
The balances show where the flows land. Retirement investments stand at about $250,000. Taxable investments stand at about $450,000, held largely for a house purchase in the next year. Bank cash of $75,000 sits across three banks, and the taxable money sits across four accounts. The hosts answered that spread directly: consolidate the accounts and the banks, and run the giving through a donor advised fund.
Thirty five percent saved is the engine of this file.
The house is the one place the hosts pushed back. The household plans to buy in the next year, and the hosts advised against jumping to a $1,500,000 house while a private equity sale in three to four years could force a move. Their shape was a cheaper house that could become a rental if the move comes. The $450,000 of taxable money is held largely for a house purchase in the next year. The open question is which house it lands on.
None of that touches the score's strong boxes. The Wealth Equation grades the rate and the anchor, and both are full. What the house decision decides is whether the 35 percent rate survives the purchase, the same question the Guardrails grade from the other side.
Built on One Earner, Unsigned on Paper
The second look is the shape of the Protection Stack. Julian's side is built: individual disability paying $15,000 a month at $6,000 a year, employer disability of $12,500 a month beside it, and laddered individual term life totaling $5,000,000. An umbrella policy of $2,000,000 stands over the assets.
Sofia's side states much less. She holds employer disability only, with no individual policy, and no life cover is stated for her at all. Julian's own occupation wording is not stated, and malpractice type and tail are not stated for the household. Disability earns 2 of 4 and life earns 2 of 4 on exactly that split.
The largest income in the file has cover. The second income has none stated.
Then there is the empty box. There are no estate planning documents: no will, no power of attorney, no healthcare directive. The box earns 0 of 4, and the record's prescription is the plain one, complete the documents. No children are stated, so the set is the adult set, and it is the cheapest 4 points in the file.
The Transition zero sits beside it. The student loans are not finished and are not on a forgiveness plan being executed. They run on a refinance at 1.95 percent, and a $10,000 car loan for his parents sits outside the mortgage line. The framework earns 0 of 10 while both facts stand, whatever the rate on the loans.
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 Julian and Sofia, 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 2 on about 3.6 stated months, named lanes earn 0 because dollar sorting is not stated, and goals funded earns 3 of 6 on flows that reach the goals without fully funding them. The framework earns 5 of 20.
Questions this case answers
What score did Julian and Sofia receive on the Financial Health Assessment?
Julian and Sofia scored 51 out of 100, in the Corrections band. The Physician Wealth Equation earns the full 14 of 14 and the Decision Filter the full 4 of 4, while the Transition framework earns 0 of 10.
Why does the Transition framework score zero on this income?
The established fork grades finishing: the student loans are not paid off and are not on a deliberate forgiveness plan being executed, and a $10,000 vehicle loan for his parents' car stands outside the mortgage. The loans run on a refinance at 1.95 percent, and the framework earns 0 of 10 while both facts stand.
What protection is missing for Julian and Sofia?
There are no estate planning documents at all. No life cover is stated for Sofia, who holds employer disability only, and malpractice type and tail are not stated. Julian holds laddered term life of $5,000,000, individual disability of $15,000 a month, and a $2,000,000 umbrella policy.
What do the fixes do to Julian and Sofia's score?
Run the traced fix and the arithmetic is 51 plus 4, a score of 55. The gain is 4 for completing estate documents: a will, a power of attorney, and a healthcare directive. A score of 55 out of 100 keeps the household in the Corrections band.
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: for established attendings, whether education debt is finished, and whether consumer or vehicle debt remains.