Net Worth Statement

Simply Balanced Solutions can provide a comprehensive financial picture of your net worth to help you and other professionals understand your financial resources and progress toward meeting your goals.  The Net Worth Statement can be prepared as a one-time only planning document or at regular intervals to help you track your progress.

what does you financial picture look like?

What is a Net Worth Statement?

The Net Worth Statement is a snapshot in time; it reports your assets and liabilities.
Simply put, you can hand us a stack of bank statements, investment statements, mortgage statement, credit card statements and whatever else you have and we will organize and provide you with your very own Net Worth Statement.  In addition, we can help you understand your spending by compiling a spending report and budget.

FINANCIAL FOOD FOR THOUGHT

Why would you need a Net Worth Statement?

This information can be very useful to you when you are working with other professionals such as attorneys or financial professionals. Often, these professionals need to be given a snapshot of your financial information in order to evaluate how they can best meet your needs. This information can be used to identify and address your current and upcoming financial needs in order to provide you with financial stability. We can work with you and your preferred professional, such as your Certified Financial Planner or CPA, to provide accurate and up to date information to enhance your existing relationships.

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The Net Worth Statement is a tool to help you.  It helps you understand where you are so that you can better plan for your needs.  Over time, the Net Worth Statement clearly shows how you are progressing toward meeting your own goals and can help address financial needs before they become critical events.

A Net Worth Statement could be useful to the following:

Family Members Knowing the financial picture helps gives you and your family peace of mind.

Tax Accountants Accountants look at  assets and liabilities differently than most of us; having a clear picture of your assets and liabilities allows them to provide better tax planning and opportunities to save money by structuring assets and/or liabilities differently.

Financial Planners Planning for your future starts with knowing where you are.  Financial Planners use this information to track and coordinate different kinds of assets and/or liabilities across multiple accounts and financial institutions.

Attorneys Whether you are working with an estate planning attorney, business attorney or divorce attorney, knowing what you have and what you owe is integral to protecting your financial interests.