Lock It or Keep It Flexible Questionnaire

Screening Question: Which option best describes a “locked savings” product (like a CD)?

• You agree to leave money untouched for a set time to earn a guaranteed return (Qualify)

• You can withdraw money anytime with no tradeoffs (Disqualify)

• It’s mainly for buying stocks and crypto (Disqualify)

• It’s a credit card feature that increases your credit limit (Disqualify)

• Are you at least 45 years of age? (Disqualify if under)

1. Have you ever used a “locked savings” option where you agree not to touch money for a set time in exchange for a guaranteed return (like a CD)?

• Yes, I use one right now

• Yes, I used one in the past 2 years

• Yes, I used one more than 2 years ago

• No, but I’ve considered it

• No, and I would not consider it
  
  

2. If you had $100,000 set aside for savings today, how would you split it between “fully accessible” and “locked for a set time”?

• 100% fully accessible

• 75% accessible, 25% locked

• 50% accessible, 50% locked

• 25% accessible, 75% locked

• 100% locked
  
  

3. For money you need within the next 12 months, what would you do with it?

• Keep it fully accessible (regular savings account)

• Lock it for a set time for a guaranteed return

• Put it into higher-risk investments

• Use it to pay down debt

• Split it between accessible and locked

• Use it for planned spending (travel, big purchase, etc.)
  
  

4. For money you do not need for 1 to 3 years, what would you do with it?

• Keep it fully accessible (regular savings account)

• Lock it for a set time for a guaranteed return

• Put it into higher-risk investments

• Use it to pay down debt

• Split it between accessible and locked

• Use it for a specific planned goal (car, wedding, moving, etc.)
  
  

5. For money you do not need for 3+ years, what would you do with it?

• Keep it fully accessible (regular savings account)

• Lock it for a set time for a guaranteed return

• Put it into higher-risk investments

• Use it to pay down debt

• Split it between accessible and locked

• Use it for a long-term goal (home, education, etc.)
  
  

6. What matters most to you for savings right now?

• Easy access in case of emergencies

• A guaranteed return (no surprises)

• The best possible return, even if it comes with risk

• Safety and peace of mind (protecting what I have)

• Simplicity (easy to understand, easy to manage)

• Making it harder to spend impulsively
  
  

7. What is your biggest fear about locking savings for a set time?

• I’ll need it for an emergency and won’t be able to access it

• I’ll feel trapped or stressed knowing it’s not available

• I’ll have to pay a penalty to access it early

• Rates might go up after I lock it and I’ll feel like I missed out

• I don’t trust financial companies to make it easy and fair

• I’ll forget about it and lose track of my money
  
  

8. What is your biggest reason to lock savings for a set time?

• I want a guaranteed return

• I want to stop myself from spending it

• I’m saving for a specific goal and want to stay disciplined

• I like predictable plans and routines with money

• It would make me feel more secure and in control

• I want to protect my savings from inflation and price increases
  
  

9. How confident do you feel that you could handle a $50,000 surprise expense without touching money you have locked away?

• Very confident

• Somewhat confident

• Not very confident

• Not confident at all
  
  

10. If you had to access locked money early and pay a penalty, how would you feel?

• Fine, emergencies happen

• Annoyed, but I’d accept it if I really needed the money

• Guilty, like I failed at saving

• Panicked, because I’d feel like I’m losing money

• I would avoid anything that has a penalty
  
  

11. What is the longest you would feel comfortable locking some savings right now?

• 1–3 months

• 4–6 months

• 7–12 months

• 13–24 months

• More than 24 months
  
  

12. If you decided to lock savings, would you rather lock it all at once or split it into smaller “chunks” that unlock at different times, even if splitting it could slightly reduce your overall return?

• Lock it all at once in one chunk

• Split it into 2 chunks with different end dates

• Split it into 3–4 chunks with different end dates

• Split it into 5+ chunks with different end dates

• I would not lock savings at all
  
  

13. Would you consider locking some savings away if it helped you avoid spending it?

• Yes, definitely

• Maybe

• Only if the guaranteed return was much higher than regular savings

• Only if I could start with a very small amount

• No
  
  

14. If a locked savings option allowed one “emergency unlock” (one penalty-free withdrawal), how would that change your interest?

• Much more interested

• Somewhat more interested

• No change

• Less interested (it would feel less “serious”)

• I still would not consider locked savings
  
  

15. If your locked savings could automatically increase its return one time if rates rise during your term (a “rate bump”), would that make you more open to locking money?

• Yes, much more open

• Yes, somewhat more open

• No difference

• It would make me less open (feels complicated)

• I’d only care if the bump was guaranteed, not optional
  
  

16. Which statement best matches your mindset about your finances over the next 6 months?

• I feel stable and in control

• I’m cautious, but I think I’ll be okay

• I feel like I’m one surprise expense away from trouble

• I expect things to get worse financially

• I’m optimistic and actively trying to get ahead
  
  

17. How often do you dip into savings for non-emergency spending?

• At least once a week

• A few times a month

• A few times a year

• Rarely

• Never
  
  

18. Which situations have tempted you to use savings early, even when you planned not to? (Select all that apply.)

• Major medical expense (for you or a spouse/partner)

• Long-term care or assisted living costs

• Education costs for children or grandchildren (tuition, private school, etc.)

• Retirement income gap or unexpected retirement expense

• Unexpected tax bill or tax payment

• Stock market volatility (a big market drop making you want to move money)

• Seizing an investment opportunity (buying stocks, bonds, precious metals, etc.)

• Buying or upgrading real estate (second home, investment property, major remodel)

• Helping adult children or other family financially

• Luxury purchase (car, watch, jewelry, etc.)
  
  

19. If a friend told you they were locking money away for a guaranteed return, what would you think first?

• Smart move, I respect the discipline

• Risky, I’d worry they’ll need it

• I’d be curious and ask how they did it

• Pointless, I’d rather keep my money flexible

• I’d feel jealous, like they’re more financially stable than me
  
  

20. Which emotion best describes how you feel about your savings right now?

• Anxious

• Hopeful

• Frustrated

• Proud

• Embarrassed

• Motivated

• Numb or checked out

Explore key insights from this questionnaire in our detailed article. For more data and survey results, click here.