An Introduction to the Statement of Financial Condition or Balance Sheet: A Powerful Tool in Financial Panning if you Understand How it Works! RPF0022

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 17 July 2014

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

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Summary

Many times people ask me where to start with the process of financial planning. Today’s show answers that question. If you were assigned to take over a failing business and you wanted to turn it around, you would begin by answering two questions: Why does this business exist? (Purpose) Where is this business at? (Financially […]

Transcript

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0:00.0	Radical Personal Finance, Episode 22, on today's show, an introduction to the very first steps
0:09.2	you need to take to start making financial progress.
0:13.0	Today's show,
0:14.0	build a statement of financial condition
0:17.0	aka a personal balance sheet. And then. The Welcome to the Radical Personal Finance Podcast for today, Thursday, July 17, 2014.
0:41.6	This is the show where we try to give you some steps that you can take to connect those big
0:47.5	goals, big dreams and big visions that you have for your life to where you are today and give you some practical
0:54.8	actionable tools to help you achieve your goals faster and with greater ease. So I'm thrilled that you're with us here today for today's show and when I sat down this morning and was working on my outline
1:15.2	for what I wanted to talk about,
1:16.6	what I really wanted to talk about today
1:18.2	was paying off debt.
1:19.5	And the order that one should pay off debt
1:21.6	and kind of continue some of my commentary from the
1:23.7	from the previous from a show I think it was earlier this week and is one of those
1:29.2	topics that in the financial world I see a lot of information that's good but it's just
1:33.7	looking at one side of it so I prepared this long outline of how I would think
1:37.9	about paying off debt and how to integrate all the different tools and I realize
1:41.2	that I can't go there without starting with a
1:45.0	that the first step I can't go to how to pay off the debt without going through some of
1:49.0	the information on you know making how to write down what you owe and all the different aspects of the
1:56.0	debts and this could be very simple for some people or it could be very complicated
1:59.6	for other people but then I realize well I can't start there until we go into financial statements.
	...

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