WHAT DOES YOUR BALANCE SHEET SAY? Presented by: Rianka R. Dorsainvil, CFP® Financial Planner.

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Presentation transcript:

WHAT DOES YOUR BALANCE SHEET SAY? Presented by: Rianka R. Dorsainvil, CFP® Financial Planner

WHAT COMES TO MIND WHEN YOU HEAR BALANCE SHEET?

TAKEAWAYS: Purpose How to create a balance sheet What does a healthy balance look like

WHAT IS A BALANCE SHEET? Financial snapshot of where you are today. Summary of your assets (what you own) and your liabilities (what you owe).

COMPONENTS OF THE BALANCE SHEET Assets: ● Liquid Assets CDs, Checking and Savings Accounts, Stocks & Mutual Funds, Bonds, Net Cash Value Life Insurance, and Other Liquid Assets ● Non-Liquid Assets Real Estate (market value), Limited Partnership, Retirement Accounts, and Net Business Ownership Equity, and Other Non-Liquid Assets ● Fixed Assets / Personal Use Automobiles & Other Vehicles, Personal Property, Collectibles, Residence(s), Other fixed assets/ personal use Liabilities: ● Home mortgage ● Student loans ● Consumer debt ● Personal loans ● Other liabilities

HUMAN CAPITAL Net present value of your expected income over your lifetime. Image via Nerd’s Eye View : Michael E. Kitces

Thank you!