Step 2: Assets
Ok all, I hope you have had time to think critically about your dreams and goals. In all honesty, the first step is what most people spend most of their time dreaming. The other nine steps that we share with our community are the foundation for creating a blueprint toward financial independence. It's time you share this content with family/friends and empower your community to balance his/her needs.
Prepare a personal balance sheet (Part 1). A balance sheet is a financial statement where you, in great detail, list all of your assets, debts and find your current net worth. It is a snapshot on a specific day. Let's start with the assets. Only list big-ticket items here. You can spend all day listing things you own, like your couch or kitchen table, but those are not things that are likely to help you earn money or reach your goals. List assets like your house, cars, retirement/investment accounts, checking/savings accounts, life insurance, etc. Stick to the assets for Step 2.