In episode 11 on the Wilson Wealth Management YouTube channel, we begin our look at Investor Profiles.
First up, how you should factor in your personal financial situation when creating an Investor Profile.
As the old joke goes, it is easier to build $2 million in wealth in 10 years if you begin your journey with $1 million versus nothing at all. And even easier to reach $2 million if you start with $3 million.
A joke, but quite accurate. Your current and anticipated financial situation and earnings is a huge driver in your ability to accumulate wealth over time, and achieve your objectives.
What type of financial statements should you create?
What are some key aspects people forget to include?
Why you need to consider your future prospects and costs?
How to look for growth opportunities and areas to cut costs when assessing your financial situation?
If you would like to read a little more on Investor Profiles and financial situation, please check out, “Comprehensive Investor Profile”. And for a comparison of liquidity issues between bankable and non-bankable assets, please read “Liquidity Risk for Investors” and “Liquidity Risk for Physical Assets”.
