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Unformatted text preview: and savings Evaluate your current financial position Assets: what you own Liabilities: what you owe Net worth: the value of what you own minus the value of what you owe A Plan to Manage Your Liquidity Liquidity: access to funds to cover any short-term cash deficiencies Money management: decisions regarding how much money to retain in a liquid form and how to allocate the funds among short-term investment instruments Credit management: decisions regarding how much credit to obtain to support your spending and which sources of credit to use A Plan for Your Retirement and Estate This includes insurance planning, retirement planning, and estate planning Retirement planning: determining how much money should be set aside each year for retirement and how those funds should be invested Estate planning: determining how your wealth will be distributed before or upon your death...
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