Your Most Valuable Asset: You

When people list their assets, they generally recount bank accounts, real estate holdings, automobiles, retirement accounts and stock portfolios. But the key to all those assets is the individual whose earnings fund them. You are your most valuable asset and you deserve the same management you give your other assets.

When you recognize yourself as your greatest asset and consider your potential for earnings over your lifetime, you can plan ways to increase and protect your value.

Increasing Your Value

You make calculated moves to maximize the value of your financial assets. It can be just as important (financially and personally) to maximize your own value. A careful review of lifestyle issues can increase your happiness, your health and your earning potential.

Manage your career – People who enjoy what they do and do their jobs well tend to be happier and more successful. Career advice and coaching can help you choose the right path, make the most of the path you’re on and determine when change is necessary.

Invest in yourself – Investing in yourself through continuing education can lead to increased earnings and perhaps new interests.

Utilize your skills – Another way to invest in yourself is to focus your work on the tasks that generate revenue or bolster your career path.

Protecting Against Risk

Your value as a financial asset is most likely dependent on your ability to work. By protecting your ability to earn an income and putting in place plans to offset possible loss of that income, you can protect against risk.

Health risks – Manage your physical and emotional health, as a healthy lifestyle decreases the risk of illness and supports your ability to work.

Disability risk – Disability insurance is critical to provide continuity to your income (or part of your income) if you are unable to work because of a disability.

Mortality risk – Life insurance ensures that your family is taken care of after your death.

Longevity risk – With average life spans increasing, longevity risk is the possibility that you will outlive your retirement savings. A comprehensive retirement savings plan and multiple post-retirement income sources allow you to mitigate longevity risk.

Protecting Yourself

You review your portfolios, manage your investments, balance your accounts and maintain your home—all to protect your assets for yourself and your family. It is just as important that you protect yourself as an asset, through your lifestyle choices and continued strategic financial planning.