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Home / Insurance / Financial Wellness and a Personal Inventory Go Hand in Hand — Legal Insurance Blog — December 15, 2022

Financial Wellness and a Personal Inventory Go Hand in Hand — Legal Insurance Blog — December 15, 2022



stockfresh_5140310_business-still-life_sizeS-300x200A personal asset inventory is a list of an individual’s financial assets. It can include savings accounts, investments, real estate, collectibles and vehicles. The aim is to get a clear picture of an individual’s financial situation. The information can be helpful when a person is applying for a loan or trying to reach financial goals, such as a down payment on a house.

It is easier to make informed decisions about financial matters by knowing what assets are available. Additionally, a personal asset inventory promotes financial well-being by offering a clear picture of an individual’s financial picture.

Compiling a personal asset inventory begins with making a list of all physical and financial assets. Each asset has an estimate of its value attached to it. Once the inventory is complete, a person can use it to assess their financial well-being and make necessary changes. You can think of an asset inventory as a way to improve long-term financial security.

What can be done with the information

Almost 60% of Americans do not know their financial net worth. As a result of such ignorance, it makes it difficult to make good decisions that affect financial well-being.

Decision making and planning are the basic reasons for having an asset inventory. It is a chore that everyone needs to do at least once or twice in their life. The problem is that many people need help figuring out what to do and may need some help. Nationwide Prepaid Legal Services offers the kind of assistance that makes the project more manageable.

We use experienced professionals

Certified financial advisors provide assistance. They are veterans of everyday finance and offer advice on common financial problems. Personal assets are one of their areas of expertise.

We have an advisor in each community where there is a nationwide customer. Our advisors will meet with plan members and go over financial issues. The Nationwide Advisor will guide a person through creating a personal asset inventory and help plan members place realistic values ​​on the items.

The counselors will do even more. For example, using inventory information, they can help a person develop a workable personal budget. The advisors can also help in other areas where financial well-being is a priority.

Our customers are part of the decisions

Nationwide has other benefit options, including help with college debt and medical bill management. We want to provide a financial wellness program for a client that meets the needs of all employees. We’ve helped a lot of people over the years, but we don’t fully understand the demographics of each client’s workforce. That’s why we’re looking for a little help.

We will discuss all of our financial wellness benefits with potential customers’ decision makers. We answer all questions thoroughly and provide insight into the value of each option. Once we explain our benefits, Countrywide stands back and lets management decide which options will benefit the organization. These choices will be included in the final planning document. Countrywide will provide member services and streamlined administration.

It is not easy for anyone to discuss finances and many people need to feel more comfortable with money matters. Our counselors do not lecture or preach; they are looking for solutions. Nationwide advisors have excellent listening skills and great empathy for people. A client can expect that their employees will be treated as adults and with great courtesy.

A personal asset inventory is a primary step in helping a person gain control of their finances and protect their finances. Creating the inventory can seem challenging, but we are here to help you. If you would like to know more about what we can do for your employees, please contact us as soon as possible. We are committed to helping plan members manage their financial future and better control their money.


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