MONEY WELL. IN OTHER MONEY NEWS, TWO OF THE THINGS THAT PEOPLE USE TO MEASURE THEIR FINANCIAL HEALTH ARE THEIR NET WORTH AND THEIR CASH FLOW. BUT THERE ARE SOME CONFUSION ABOUT WHICH IS MORE VALUABLE AND HOW TO TELL THE DIFFERENCE BETWEEN THE TWO. AND OF COURSE, TO HELP US SIMPLIFY ALL OF THAT IS MEGAN HAMMOND, THE DIRECTOR OF FINANCIAL PLANNING AT WEALTH QUEST. THANKS FOR BEING HERE WITH US TODAY. THANKS FOR HAVING ME. YEAH, IT바카라 게임 웹사이트�S ALWAYS A BRIGHT LIGHT WHEN YOU COME IN HERE TO BREAK IT ALL DOWN FOR US. MEGAN, HOW SHOULD PEOPLE MEASURE THEIR FINANCIAL HEALTH IF THEY KNOW THEY바카라 게임 웹사이트�RE ON TRACK FOR THEIR GOALS? SO ONE OF THE MOST COMMON MEASUREMENTS FOR FINANCIAL HEALTH IN OUR INDUSTRY HISTORICALLY HAS BEEN NET WORTH. AND FOR THOSE WHO DON바카라 게임 웹사이트�T KNOW HOW TO FIGURE THAT OUT, IT바카라 게임 웹사이트�S PRETTY EASY. WE ADD UP EVERYTHING THAT WE OWN, SO OUR HOUSE, OUR CARS, ANY OF THE ACCOUNTS THAT WE HAVE WITH MONEY IN THEM, AND THEN ANY OF OUR VALUABLES. SO ARTWORK OR JEWELRY OR ANYTHING LIKE THAT. AND THEN WE WANT TO SUBTRACT OUT ANYTHING THAT WE OWE. SO OUR DEBTS MORTGAGES, CREDIT CARDS, STUDENT LOANS AND THE DIFFERENCE BETWEEN THOSE TWO IS OUR NET WORTH. AND THAT바카라 게임 웹사이트�S A REALLY IMPORTANT NUMBER BECAUSE IT TELLS US WHAT ASSETS ARE AVAILABLE FOR US TO USE. BUT IT바카라 게임 웹사이트�S NOT THE FULL STORY. OKAY. RIGHT. SO ONE OF THE OTHER REALLY IMPORTANT MEASUREMENTS OF OF HEALTH IS CASH FLOW. AND SO THAT TELLS US HOW EASILY WE CAN MEET OUR FINANCIAL OBLIGATIONS EVERY MONTH OR EVERY YEAR. AND WHAT바카라 게임 웹사이트�S LEFT OVER. YEAH. NOW A LOT OF PEOPLE THINK THAT THERE바카라 게임 웹사이트�S A DIRECT CORRELATION BETWEEN THE TWO, THAT IF I HAVE MORE INCOME, I WILL NATURALLY HAVE A HIGHER NET WORTH. AND THAT CAN BE THE CASE SOMETIMES, BUT IT바카라 게임 웹사이트�S NOT ALWAYS. SO IT바카라 게임 웹사이트�S REALLY IMPORTANT THAT WE UNDERSTAND BOTH NUMBERS SO THAT WE CAN ASSESS OUR OWN FINANCIAL SITUATION. AND WE CAN BETTER ANALYZE WHAT OUR STRENGTHS AND OUR OPPORTUNITIES ARE TO MEET OUR GOALS. YEAH, IT바카라 게임 웹사이트�S REALLY ABOUT WHAT YOU ARE ACQUIRING WITH THE CASH FLOW THAT YOU DO HAVE, RIGHT? ABSOLUTELY. YES. OKAY. SO IF ONE OF THESE MEASURES IS ONE OF THESE MEASURES IS MORE IMPORTANT THAN THE OTHER, RIGHT. NO. OKAY. I MEAN YES AND NO. THIS IS AN IT DEPENDS. AND I THINK IT REALLY DEPENDS ON WHERE YOU ARE IN YOUR LIFE. SO HOW OLD ARE YOU? WHAT바카라 게임 웹사이트�S YOUR AGE? WHERE ARE YOU IN YOUR CAREER AND WHAT ARE YOUR GOALS. SO TYPICALLY YOU바카라 게임 웹사이트�RE GOING TO SEE PEOPLE WHO ARE YOUNGER, WHO HAVE A STEADY INCOME FOCUS MORE ON NET WORTH. SO BUYING A HOUSE, STARTING A BUSINESS, PUTTING MONEY TOWARDS INVESTMENTS AND RETIREMENT, THINGS THAT ARE GOING TO GROW OVER TIME. MHM. TIME IS ONE OF THEIR BIGGEST ASSETS. AND SO THAT MAKES SENSE FOR SOMEBODY WHO바카라 게임 웹사이트�S A LITTLE BIT FURTHER ALONG IN THEIR CAREER. MAYBE THEY바카라 게임 웹사이트�RE STARTING TO THINK ABOUT RETIREMENT OR MAYBE THEY바카라 게임 웹사이트�RE ALREADY RETIRED. IT REALLY MAKES MORE SENSE TO FOCUS ON CASH FLOW. AND WE START TO SEE THAT SHIFT WHERE PEOPLE HAVE THEIR NET WORTH. THEY HAVE, YOU KNOW, THEIR WEALTH, AND NOW THEY NEED TO CREATE AN INCOME STREAM THAT WILL SUSTAIN THEM THROUGH LIFE AND SO IT바카라 게임 웹사이트�S NOT THAT ONE IS BETTER OR WORSE THAN THE OTHER. IT바카라 게임 웹사이트�S REALLY JUST A MATTER OF WHERE WE ARE IN OUR LIFE AND WHAT OUR GOALS ARE. AND HOW SHOULD PEOPLE PUT THIS APPROACH INTO ACTION IN THEIR OWN LIVES. YEAH, WELL, I THINK IT바카라 게임 웹사이트�S REALLY IMPORTANT FOR US TO RECOGNIZE THAT THERE ARE A LOT OF WAYS TO MEASURE FINANCIAL HEALTH AND WEALTH AND THAT THAT CAN SHIFT OVER TIME. THAT바카라 게임 웹사이트�S OKAY. THAT바카라 게임 웹사이트�S NATURAL. THAT바카라 게임 웹사이트�S GOING TO HAPPEN. BUT REGARDLESS OF WHAT MEASUREMENT YOU USE, I THINK IT바카라 게임 웹사이트�S REALLY IMPORTANT FOR PEOPLE TO START LOOKING FORWARD AT THE MOMENTS THAT THEY바카라 게임 웹사이트�RE GOING TO WANT TO FOCUS ON NET WORTH AND THE MOMENTS THAT THEY바카라 게임 웹사이트�RE GOING TO WANT TO FOCUS ON CASH FLOW. SO, FOR EXAMPLE, IF SOMEBODY COMES AND SAYS, I WANT TO BUY A HOUSE, RIGHT, THAT REQUIRES AN UPFRONT COST. AND SO HOW ARE WE GOING TO USE CASH FLOW TODAY TO START SAVING AS EFFICIENTLY AS POSSIBLE TO MAKE THAT DREAM A REALITY? BECAUSE WHERE AND WHEN AND HOW WE SAVE IS GOING TO MAKE A DIFFERENCE. AND I THINK AS YOUNGER PEOPLE, WE OFTEN FORGET THE CASH FLOW IS NOT ALWAYS GOING TO BE WHAT IT IS. AND IT REALLY MAKES YOU HONE IN ON YOUR SPENDING HABITS. RIGHT? YOU ARE ABSOLUTELY RIGHT. BUT THEN I THINK YOU바카라 게임 웹사이트�RE GOING TO SEE A SHIFT AGAIN. WHEN PEOPLE START LOOKING TOWARDS RETIREMENT, RIGHT? YOU바카라 게임 웹사이트�RE GOING TO YOU바카라 게임 웹사이트�RE GOING TO LOOK AT YOUR NET WORTH. BUT IT바카라 게임 웹사이트�S REALLY IMPORTANT TO UNDERSTAND HOW YOUR NET WORTH IS MADE UP, BECAUSE FOR A LOT OF US, THE BIGGEST PORTION OF OUR WEALTH IS IN OUR HOME, WHICH IS AN ILLIQUID ASSET. SO HOW ARE WE GOING TO USE THINGS DEPENDING ON WHERE WE ARE IN OUR LIFE AND WHAT WE WANT? SO THE EARLIER WE START THINKING ABOUT THAT AND THE EASIER WE CAN POSITION OURSELVES TO MEET WHATEVER GOAL THAT IS, YOU KNOW, WHETHER IT바카라 게임 웹사이트�S BUYING A HOUSE OR IT바카라 게임 웹사이트�S CREATING A CASH FLOW FOR RETIREMENT. YEAH. ALL RIGHT. MEGAN HAMMOND WITH WEALTH QUEST. THANK YOU, AS ALWAYS. THANK YOU. THAT WAS NOT SO BAD, WAS IT? ALL RIGHT