February 5th, 2013
Why should a person complete a yearly net worth statement?
Why should a person complete a yearly net worth statement?
A net worth statement provides an objective assessment of one’s financial position. Once you know you financial position you can start to address questions like, “Am I happy with where I am financially now?” It’s the first step to being able to implement changes that can help reach financial goals. Without it many of us tend to generalize our financial posture typically either ignoring it or feeling that it’s better than it really is.
This is an important exercise to complete annually as it’s a measure of how your actions have influenced your financial position, you can compare to previous years. It’s a good time to think about financial goals and strategies by updating a financial plan
That was a wonderful answer, Aaron. I have little to add. You can go to the Net Worth page and download a Net Worth example and make it your own. Further information can be obtained with the “why do a net worth statement” document on that page. You would rather see how its done? Okay, go to the recommended viewing page and hit on the Net Worth video. Start TODAY!