As we step into 2024, I’d like to take a moment to reflect on our personal balance sheet. It is therefore important to assess our tangible and intangible assets, liabilities and reserves.
In my personal view, the asset side should start with:
- Health : Focus on both physical and mental health
- Relationships : Cultivating long-term relationships. As social beings relationships help us both personally and professionally
- Personal Brand : Creating and building a personal brand linked to the legacy that we want to leave behind
- Tangible Investments : Investment in various asset classes and for our personal and professional needs including safety and security
On the other hand the liabilities could be as under:
- Reserves : Based on our values, cultures, learnings and experiences. Can tap into the reserves to continue to stay inspired , energised and clarity of thought and purpose
- Intangible Debt : While accumulating assets, we grow our assets through contributions by many people , while learning from them we accumulate debt to be paid back to society in form of sharing knowledge and wealth.
Financial Debt
I haven’t heard many people talk about the personal balance sheet in this format. What are your thoughts on this?
January 2024
