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CFP Board in the News

You're Richer Than You May Realize

Apr 25, 2011

Count your 'human capital' as an asset; watch your net worth skyrocket

You may be a lot wealthier than you think. Most people look at their 401(k) or other retirement plan, add in the value of other assets – their home, other investments, savings, etc. – then subtract their debt to get their net worth. After the housing-market bust and the bear-market rout of recent years, that number may look painfully small.

But what's the value of you? That is, how much are your future paychecks worth? That number is your "human capital" – and some experts say it should be a key part of your overall financial planning.

Financial planners also incorporate the idea of human capital when they help clients prepare for the possibility of disability, and whether someone's skill sets would be transferable to another profession or career, [said Dan Drummond, spokesman with the CFP Board]. Read more >

MarketWatch
Andrea Coombes
April 25, 2011

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Did You Know?

Among clients who work with an advisor, 87% of those working with a CFP® professional are satisfied or very satisfied, compared with 72% of those who work with an advisor without certification.
Anyone can call himself a “financial planner.” Only professionals who meet CFP Board’s rigorous standards can call themselves CERTIFIED FINANCIAL PLANNER™ professionals.
The 2013 Household Financial Planning Survey shows that those with a financial plan feel more confident and report more success managing money, savings and investments than those without a plan.
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