Question

Have you ever calculated your own net worth? Why or why not.....

What are client goals? Why are they important? What are some of your financial goals?

Answer 1

Question 1)

I have not calculated net worth as of now, however, I shall first get the reliable estimations of my assets and liabilities and then go ahead with the Net Worth calculation. We can calculate our own net worth by deducting our debts from the assets owned or held by us. If the assets surpass the liabilities, then we are supposed to have a positive net worth, if the liabilities surpass the assets, then we have a negative net worth.

In case we have Intangible assets like IPRs, patents etc, then we should calculate Tangible Net Worth= Assets-Liabilities- Intangible assets.

Question 2)

Client goals are multi faceted objectives that a client has and which he wishes to fulfill by employing us and taking our services. These goals can be financial, IT based, outsourcing etc. These goals are important as they set a sense of accountability and ownership between the client and the service provider. Effective goals acknowledgment helps a Company to serve its clients in a much better manner and within the specified time frame.

Some of my financial goals numerated below:

1. Make a monthly budget and stick to it

2. Save enough money to keep in a emergency fund to take care of the rainy days

3. Saving up for retirement

4. Save for children's education, their marriage, their healthcare

5. Save a down payment for buying a home