What are you worth?

Have you reviewed your financial assets recently? It’s useful to do it once a year and January is as good a time as any. We all do this as a matter of course for our businesses, or our accountants do it for us, but it’s more revealing to look at your total assets as an individual or a couple. Ideally the net asset figure should improve year on year. If it does not, think about which asset segments are working for you and which are not.

Add together:
Your property values if you sold them now.
Cash retained in businesses.
Positive bank balances.
Stock values.
Investments.
Pension funds.
Any other substantial assets at disposal value, eg vehicles and equipment.

Deduct:
Mortgages, loans, overdrafts and any other debts, business and personal. Value these as if you were paying them off today.

This is a very simple way of arriving at a single figure for your net worth and it’s not usual to lump together business and personal assets – I’ll probably get some messages from financial advisors and accountants about this! But it can give you a real indication of where you stand and if you are heading in the right direction when you compare year by year. It can also give you a steer on whether to keep investing in loss making businesses, and if so, how much and for how long.

A high net asset figure can also come as a pleasant surprise to those of us in the later age bands. You may find you can adjust your lifestyle in the knowledge that you have already made ample provision for life and this takes the pressure off.

If you would like a New Year* review of your business and a free single page marketing plan plus guidance on business growth funding, give me a call. 07801251767.

*Offer is for January 2015 only and subject to availability. Meetings at our office or by Skype.

Submerges Anatole Monaco best place to order valium online Monaco Munich Hoover indemnify prescription drug prices us vs canada
http://www.health-canada-pharmacy.com | http://nygoodhealth.com