800.382.1040

RMS Accounting

800.382.1040

Take Control

 

 

      Whatever your financial goals in life - whether they include buying a new house, taking a trip to Europe, funding your children’s college educations, having enough money for a comfortable retirement, or all of the above - you will reach your goals only if you do some planning. The fact that you are reading this brochure indicates your desire to plan and to take control of your financial life.

 

   After you’ve set your financial goals, the first step in financial planning is to determine your current net worth. Only when you know where you are today can you calculate how far you have to go to reach your financial goals in the future.

   Financial statements are not just for big corporations. You can use one to arrive at your net worth. Your assets minus your liabilities equal your net worth.

 

   The entire family should get in on your financial planning. It’s too easy to let one family member do the planning and to have the rest of the family be totally unaware of family financial goals. The family cannot work toward a goal if they don’t know what it is.

 

   Both spouses should take advantage of this planning exercise to learn something about the other spouse’s business or profession. The whereabouts of business records, special business agreements, insurance policies, lease commitments on equipment or real estate, and the location of real estate deeds and mortgages should all be reviewed.