A Financial Inventory to (Finally!!) Get Organized

This week on the Retirement Quick Tips Podcast, I’m sharing with you several resources that I use with my own clients when marking important decisions and planning for their retirement.

Today’s free resource is my financial inventory list.

In my opinion, this is one of the most important things you can do for yourself and your loved ones - take an inventory of all of your bank accounts, investment accounts, insurance policies - all in one place. Think of it as a table of contents for your finances.

An unlike organizing your garage which can be overwhelming and likely to never get done, all it takes to get organized with your finances all in one place is to fill out this inventory list.

You’ll use the inventory list to list your accounts, the type, the dollar amount, and the financial institution where they are held.

That way if you die or become incapacitated tomorrow, your spouse, your children, or your executor will have your complete list of assets right at their fingertips. No digging through 30 year old bankers boxes to go through the process of claiming money through the state.

The financial inventory also has a section to put your trusted contacts - your attorney, tax advisor, financial advisor. These trusted contacts become so valuable in the days and weeks following a death or incapacitation, and it’s important that your spouse or executor knows exactly who to contact.

And even if you’re not using it for estate purposes, it’s just really helpful to have your financial accounts all listed on one page. Then, all you need to do is make updates when you add, remote, or transfer an account, and review it annually.

Easy peasy. It’s one of those great projects thats low time investment for a big reward - clarity, organization, and peace of mind.

To get your free financial inventory worksheet, just go to www.truenorthra.com/inventory