What’s Your Nest Egg Score?

Following a link in Flexo’s recent post, I arrived at A.G. Edwards’ Nest Egg Score page. I am not how crediable the score is, thought A. G. Edwards claimes that it is “designed to be a comprehensive indicator of how well U.S. households are doing at building personal wealth.” Out of curiosity, I took the quiz to see what’s my score and how it was compared with the national average of 631. And here’s my answers.

1. What is your marital status?
Married

2. What is your age?
35 - 44

3. Do you have any dependent children in your household?
Yes

4. What is your gross annual household income (including investment and Social Security income)?
$100,001 - $250,000

5. How long have you been at your current job?
1 to 5 years

6. Do you participate in a retirement program at work or invest in an IRA?
Yes

7. Approximately what percent of your gross monthly income do you save or invest? (before taxes)
More than 20%

8. In general, will you be able to save or invest more this year than you did last year?
Yes

9. Has your risk tolerance changed in the past three years?
Yes, I’m taking more risk to help build wealth.

10.How many years until you plan to retire?
11 - 20 years

11.Approximately what percent of your monthly take-home pay do you spend? (after taxes)
Less than 80%

12.How much equity do you have in your home?
Between 31% and 50%

13.What is your household net worth?
Based on your estimated assets and debt, select the range below that best represents your household net worth.
$500,001 - $1,000,000

Wow! I have to admit I was surprised when I saw the number. 801! And what does it mean?

When I looked back at those questions, I think that they are quite vague and for some questions, if you are at the edge and can go either way, the score could be a lot different. For example, if I chose my networth to be in the $250,001 - $500,000 range, instead of the $500,001 - $1,000,000 range, my score drops to 775. Though it’s still a decent number, we all know the difference between having 1M and 500K.

To be accurate, the ranges have to narrowed. But I guess the test itself doesn’t mean to be very accurate. After all, it served as an indicator of how well everybody is building their nest eggs, approximately.

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