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Wealth And Your Net WorthC. C. Collins Wealth and Your Net Worth by C.C. Collins http://networthpublishing.com Most people know its important to keep and organize all of your vital financial information. But knowing you should and knowing how are two different things! Once you know the reasons for being very organized with your financial data and keeping it all in a very safe place I hope you will put organization on your net worth building to-do list at or near the top. You need to be able to see your financial strengths and weaknesses quickly. If you are an active investor, its even more important that you do so. Time wasted on missing data and lost tracking information is money lost. Also, keeping an accurate and up to date personal net worth statement personal financial statement can help you get loans or other financing more quickly. It would be well worth the effort to be able to give your financial institutions information they need at a glance. And your needs for the same ability to query your net worth and data associated with accounts, investments, in and outgoing money, and other important data are very important. Be sure and carefully consider all portions of your net worth. Often forgotten components of your net worth are listed below in a handy checklist to get your data system in order and on track. Cash on Hand and In Bank Notes Payable Marketable Securities Non-Marketable Securities Securities Held by Brokers Restricted or Control Stocks Partial Real Estate Interests Owned Real Estate Loans Receivable Life Insurance Other Assets Accounts Payable Amount Due to Brokers Unpaid Income Taxes Other Unpaid Taxes/Interest Other Debts Debt on Real Estate Equities Real Estate Mortgages Make sure you know what youre really worth. The only way to calculate your net worth accurately is if you track everything above. On your road to a high net worth you can make fewer pit stops if you have a plan and the data to support your investment decisions and abilities close at hand. Make use of spread sheet software and programs like Quicken to keep your net growth on track. The reports you can run are invaluable for seeing where you’ve been and how far you’ve come with your portfolios, mortgage, taxes, and other important information. An investor who knows their history can better project growth and find weaknesses in their portfolio that they can improve upon. Organization is the bedrock of those with strong net worth. It is a common thread that connects all successful investors, active or passive.
| | | | RELATED ARTICLES Business or Hobby...What Would the IRS Call YOUR Business One thing we know for sure… direct sellers start their businesses for a wide variety of reasons. Some want to build a dynasty, some want the tax benefits, some do it to buy and share a product they believe in, while others are simply looking for a way to have fun and make a little money on the side. Do You Need A Financial Planner No matter how much money you make, it pays to keep on top of money coming in and going out.Even if you do a good job of that, there are important times in your life when talking with a professional adviser makes sense. What is a Bad Credit Personal Loan A UK Bad Credit Personal Loan is a loan designed for the many people with a bad credit rating. A bad credit rating can make your life a misery. Want Money You Got It! Six out of six people who were asked to list their highest priority in life said, "I want money". 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The same factor that gives the buy-to-let landlord his massive advantage in a rising property market is one of his worst enemies in a falling market. With housing markets across the world teetering on the brink of a chasm, now may very well be a good time to evaluate exactly what gearing means to the average buy to let landlord. Five Sure Fire Way to Secure Your Financial Future “You can be poor when you’re young, but you can’t be poor when you’re old.” That was the tag line used some years ago in a financial services television commercial. Online Loans Made easy What will it take for you to get a low interest, low payment loan The answer to that question could be an online loan from one of the many companies that specializes in granting online loans, or e-loans. Mortgage Prepayment Penalties - Just Say No One of the most common terms found in a new home loan is a prepayment penalty. This type of penalty says that if the borrower pays off the loan early, commonly during the first five years of the loan, then the borrower will be responsible for paying an additional amount of money, typically about six months interest on 80% of the mortgage balance. Sub-prime market loans will typically carry prepayment penalties more than standard mortgage loans. How You Can Avoid Becoming A Victim Of Identity Theft To reduce or minimize the risk of becoming a victim of identity theft or fraud, there are some basic steps you can take. Do You Have to Be Aggressive to Make Sales A few weeks ago I was onsite at a company that had hired me to train their sales team on how to stop using traditional selling and start using the Unlock The Game™ sales approach. Whats The Truth Behind Your Finances Between 15 - 20% of people in our country UK own there own businesses. This statistic is on the rise thanks to the incredible invention of the Internet. The staggering truth is that of these only 5% are genuinely financially free! You may well see lots of expensive cars driving on our roads and big houses inhabited by the seemingly wealthy, but these houses and cars are not yet paid for. |
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