A NetWorth Stewards OWNERS MANUAL

We recommend taking your NetWorth Binder with you when visiting any financial related professional (available from realtynetworth.com):

Keep occasional pay stubs & final year end stub until you get your W-2. Replace with the tax return, file most recent year on top. Keep tax returns & supporting records at least 4 years after the original due date, 6 years for state returns. Keep real estate & other asset records at least 3 years after the due date of the tax return for the year you sell. For your accountant.

Stock Portfolio Basis Ledger     8 link to helpful binder doc.s

It is of critical importance that you keep records of stock & mutual funds. Maintain a ledger showing: date, cost, quantity, splits, sales, & any automatic reinvestments or payroll deductions. IMPORTANT: Calculate a new basis after each date of activity. Request spreadsheet template. Review with stock broker &/or financial planner.

Property Taxes / Assessment Notices     . link to helpful binder doc.s

Keep a running history or property tax bills & assessment changes. These & the assessors card (get copy) is a starting point for any possible property tax appeals & many other related considerations. Review with realtor.

Property Improvements    1 link to helpful binder doc.s

File records of permanent value adding property upgrades to track the "basis" of your properties. This is for income tax and property tax reference as well as insurance & other purposes. Review with insurance agent.

Repairs / Maintenance History    E link to helpful binder doc.s

For future reference and emergencies, log what was done, when, by whom, and related phone #'s.

Insurance Policies - Current    1 link to helpful binder doc.s

At least annually review so you don't get caught underinsuring ( in case of losses ) or overinsuring ( higher premiums on older assets ). There are chances to combine some policies for savings also - so review your: Auto, Home, Business, Health, Life, etc. Point out major changes as soon as possible, before you make a change ( major purchases, move, births, employees, etc.). Review with insurance counselor.

Personal Asset Inventory    & link to helpful binder doc.s

Maintain a list of household goods for insurance purposes in case of loss. Keep a list off-site. Keep dates of purchase, price, model # of jewelry, tools, furnishings, appliances, etc. Update insurance counselor of changes.

Appliance & Equipment Warranties    M link to helpful binder doc.s

To keep receipts with warranty cards.

Review files at least annually & update with current information. File or delete out old.  

Please bring binder to you Networth Event professional meetings.