Your Grandmother Was Right….But Don’t Forget About Doing This!

Your Grandmother Was Right….But Don’t Forget About Doing This!

 

Growing up my grandmother would often say,”never forget how valuable you are!”

I’m sure you’ve heard some form of this expression before so this isn’t a new concept to you. Your parents, friends, teachers, bosses, favorite songs and anyone who cares has more than likely reminded you a time or two that you are a valuable masterpiece…because you are!

But do you really know your worth? I mean…really know it?

I KNOW, I KNOW… YOU’RE PRICELESS!

I have no doubt that would be the response if someone asked your love ones how much you’re worth. But what if you decided to walk into a bank and ask them for a business loan or you went to a law firm for your estate planning?

Could you get away with mom’s definition?hello-my-name-is-priceless Okay, maybe you’re not that loose with your interpretation but if you’re like most people, you may still be far from your truth.

In my book The WealthShift I have a chapter called the Position Principle that dives into how sound wealth planning starts first with knowing your location. Because here’s the truth, once you determine your net worth then you can really begin mapping out a strategy towards building your fortress. 

           BUT WHY CONSIDER DOING THIS?

how-do-i-calculate-my-net-worth-statementSince most people will probably never sell every material item and liquidate it into cash why even go through this process of figuring out your bottom line? Great question! I believe it’s important for this key reason, it makes you take a hard look at every aspect of your financial situation.

Therefore, regardless if it’s good, bad or ugly, you will be able to establish better goals and make wiser decisions because you know what you’re working with.

And that’s the key to creating a bigger bank account and a financial fortress. Most people are stuck in the unknown and they have no idea what needs to be done to make corrections or advancements.

SO IF YOU HAVEN’T YET…

I challenge you to take an hour out of your day and begin the process of calculating your networth (sample form here) because that’s where it all begins.  Remember, the first question in the bible was from God seeking Adam’s location (see Genesis 3:9). I believe that He was letting Adam (and us) know that you can’t move forward until you’ve acknowledge your current status.

Make that determination today and find out just how valuable you are!

 

Shawn Dorrough

Certified Coach/Financial Consultant

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