5 vital signs to check your financial independence

Clear metrics toward financial independence can help you make better financial decisions

Sarah Newcomb 21 January, 2020 | 1:01AM

Man standing on rock

Financial vital signs are a quick and (relatively) simple way to monitor your overall financial health, ensuring that you are in a position to be a successful long-term investor. If the foundations of your financial life are shaky, it will be harder to ride out tough storms in the market. But if you know you are on solid ground, you’re more likely to stay calm and focused in turbulent markets.

Here, I’ll outline a few metrics that I find most relevant when it comes to taking your financial temperature. Regardless of which you choose to track, setting and monitoring progress toward financial goals is easier when you have clear metrics on which to focus.

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About Author

Sarah Newcomb  Sarah Newcomb, Ph.D., is a behavioral economist for Morningstar.