Personal BS

Your Personal Balance Sheet (FIRE Template)

This is a method to annually track your personal financial life and see how you can grow your personal wealth year over year. You can probably do this simple exercise in your head, but if you're like me you'll find the trends interesting 5-10-25 years from now.

3 Types of Assets:

• Liquid - Can be converted to cash quickly and easily
• Cash, Savings Accounts, Investments that can be sold quickly

• Sticky - Can be converted to cash through some effort - if absolutely necessary
• Car, larger assets

• Retirement - $ you have put away with the intention of stashing it for years and years 

Tip: Be sure to put liabilities right after an asset where applicable (Ex: Car -> Car Loan)

Example (Annual Personal Balance Sheet from the FIRE Template)

		12/31/2018
Net Balance Sheet
Assets & Liabilities	Total	$21,300
	Liquid	$7,700	Can turn into cash in a few clicks
	Cash	$200
	Robinhood	$4,800
	Schwab Individual	$2,700
	Sticky	$8,000	Less Liquid.. Could sell if absolutely necessary
	Car	$11,000
	- Car Loan	-$3,000
	House	$0
	- Mortgage	$0
	Retirement	$5,600	Assets locked up for consumption by older self
	Fidelity NetBenefits (Employer 401k)	$2,700
	Schwab Roth IRA	$2,900