Bloomberg WealthScore

[Seppia]

I was playing around with Bloomberg's financial health check tool
https://www.bloomberg.com/wealthscore-f ... calculator

It's funny how:
- I have almost all of my financial assets outside of a retirement account. You score better with $X assets in a 401k VS the same $X outside of a retirement account.
- I had made a mistake and initially reported lower salary than I actually get. After correcting the typo my score went down because my net worth was now a smaller percentage of my pretax income and because my retirement savings were now a smaller multiple to my annual salary
- increasing the "how much do you save for retirement" makes your score worse as the system interprets it as an "expense" and sees low positive cash flow (so it interprets as "dangerous" the fact that I "spend" 85% of my income when in fact 50% of my income goes into investments). It does improve the score on the "retirement savings rate" though)

I get a 7.5 on housing expenses (hard to do better - I plugged in my estimate for when we'll move to FL)
I get a 10 on retirement savings rate, debt to income ratio (easy, with a total debt of $0) and emergency nest egg. YAY for ERE!

Key takeaway is that even ERE-lite people like me break the models
Seriously, you can see that they're not built for "us".

[unemployable]

You mean like some sort of... scoreboard?

Requires some sort of login, although it seems some sort of guest/temporary login is OK. I suspect most people who take this survey use Bloomberg terminals, for which most use an account with the same email address to access, so they're giving Bloomberg their personal financial details. No, I'm sure they won't use this for nefarious purposes, not at all.

People using Bloomberg terminals are generally concentrated in the world's most expensive places to live and have stressful, if high-paying jobs. Clearly the company wants to make sure they're doing these jobs for as long as possible. So if you're a typical finance-industry mandarin I suspect their message will err on the side of saying you'll never have enough. But what I never understood is, if you're a finance whiz can't you do the math yourself? Are you that dependent on your nine monitors' worth of charts and flashing red and green numbers?

Never mind me, I'm just ranting.

[seanconn256]

I agree that bloomberg is definitely keeping this data, they would be dumb not to. Thanks to that, they now know the intricate financial details of definitelyrealemmail@mailinator.com

I scored mostly well too (8-10 range), and I thought their advice was pretty standard. Save 15%, spend 85%, have your net worth be 15% of your income * years you have been working etc.

My income recently changed and my work expeience is short, so that breaks things. Some of my scores were low a result. Specifically on my total savings.

I wonder if this is intentional, as most salaries go up and therefore the expectation of how much you have in savings goes up too. For example , if you earn 50k for most of your career and get a raise to 75k, your score is going to go down dramatically because the calculator will have expected you to be saving 15% of 75k for that whole time.

Also adding retirement savings as an expense is hilarious, I saw my yearly spending more than double because of that.