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Family Inc: Measures of Health of Family Wealth (Guest Post)

Family Inc: Measures of Health of Family Wealth (Guest Post)

Personal finance books would usually teach us how to tell whether we are in a good or poor financial position.

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This post was originally posted here. The writer, Kyith is a veteran community member and blogger on InvestingNote, with username known as Kyith and 800+ followers.

Today, we continue with our Family Inc Series with a look at what Doug McComick recommends as metrics to measure the health of our family wealth.

You could use these metrics for a snapshot of how your family is doing. You could incorporate them into your tracking as well.

I take particular interest in this chapter to see if there are metrics that we can incorporate into my firm’s financial planning practices. You gotta keep trying to do better.

It is important for you to have an idea about your income and net wealth. And having personal income and balance sheet statements are a way to know how well you do.

We take a look at what Doug thinks we should take note of.

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The Top 5 Most Common Financial Models

The Top 5 Most Common Financial Models

What is financial modelling?

A financial model involves building financial models from scratch or maintaining and updating the existing one as to construct a financial representation of the financial condition of a financial security or a company. It is used to calculate, estimate and forecast financial numbers.

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Some might ask – what kind of skills do you need in order to build an efficient financial model that produces accurate and dependable results?

Well, we have prepared a list of skills that you need to achieve that:

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Top 6 investing quotes of legendary investors

Top 6 investing quotes of legendary investors

Sometimes, we lack motivation even as well-disciplined investors, especially during volatile or bad times. During times like these, we need to re-focus on the important things and doing them right. Do all the big things right and let everything else small fall under that.

Here are the top 6 quotes from legendary investors that will motivate you to invest:

“Investing isn’t about beating others at their game. It’s about controlling yourself at your own game.” – Benjamin Graham

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