Step 1 Review and Reflection
- Your Lifetime Income Estimate shows how much money has flowed into your life. Your Personal Balance Sheet indicates how much of that value you've retained – your “net worth.”
- A snapshot of your current financial reality helps you objectively assess your situation. This is an important reality check in setting a course for your future.
- Debts – even those associated with assets – decrease your net worth.
- You have many intangible assets, not shown in your financial net worth.
- What was your reaction to the Life Income activity? Did anything surprise you?
- How did it feel to learn how much money you've earned, and then to look at your net worth? What conclusions did you reach?
- What decisions have you made – consciously or unconsciously – that created your current financial situation? Would you make the same choices again?