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Summary: Examples of financial assets include cash, savings and checking accounts, 401ks and IRAs. Understand the difference between life assets and financial assets through tips from an experienced businessman in this free video.
Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more
"This is financial planner Patrick Munro talking about what are financial assets. It's important for individuals to realize that they have many assets in this life. Your primary asset would be your family, people that care about you, etc. And of course your health is an asset too, it's hard to have a valuable life without good health. However, going deeper into the situation, you look at financial assets. This can provide you a better quality of life going forward. Financial assets range from basic things, such as, cash, savings accounts, checking accounts. It builds up to a higher level when you talk about securities, 401k's, IRA's, things that are provided from your work. And then it builds up higher with your first home, perhaps some more rental real estate. These are also financial assets. And then if you're a wealthy individual, it can go, skies the limit, it can get into precious metals, precious stones, art, commodities, things of that nature. This is financial planner, Patrick Munro, talking about financial assets."