Net Net TOUGH-Your Financial Dashboard
Course #4 of 9 – The Opportunity Dashboard in 2 Minutes
Getting an idea of where you are is the first step in determining where you are going. Similar to a back country enthusiast is constantly looking at GPS and iPhone Apps readjusting their route and trails.
Why is this crucial? For a number of reasons… to not get lost, have a bad day, running out of gas, wasting time would be a few reasons but if you think a little deeper. If that person gets lost, they would not be home at the stated return time. Their family would be worried, staying over in the mountains overnight could be life threatening depending on weather and that persons life path may change based on a simple decision to bring a GPS or be able to know where they are.
This is no different with your financial plan. Here is a simple way to get a clear picture of where you are, which will then help you see Where to GO (The Opportunities!).
How to get organized with all your documents, plus having engaging conversation with your spouse – video of the Financial Dashboard Binder
If you want to build YOUR own personal Financial Dashboard (FDB), see below.
You can do this yourself in 2 minutes or use our template at the bottom.
Make 4 quadrants on page of paper. (Draw a line down the middle of the page and then draw a line across the middle of the page) making 4 boxes.
- Who are your advisors – accountant, lawyer, financial advisor, bookkeeper, mortgage broker etc etc… think key people in your life.
- If you have any companies, note them down in that box. The name of the company and who the shareholder is.
- Note down all the insurance you have
- Note all the investment and savings accounts. Mark down the type of account (RRSP/TFSA/Non Reg/RESP) and then how much the current market value is.
- Note all your real estate holdings – include the market value and what the outstanding mortgage is on the property.
There, now you know what you have and who is helping you achieve your goals.
Financial Dashboard Downloadable Template
Become a Serviss Wealth Insider – Sign up for our newsletter!
Get the latest wealth tips, the latest insight, new strategies and exclusive connections to other Successful business owners growing their wealth.