{"id":89,"date":"2023-02-09T07:19:53","date_gmt":"2023-02-09T07:19:53","guid":{"rendered":"https:\/\/modestmoneytips.com\/?p=89"},"modified":"2023-02-09T07:19:53","modified_gmt":"2023-02-09T07:19:53","slug":"do-you-possess-a-map-leading-to-hidden-treasures","status":"publish","type":"post","link":"https:\/\/modestmoneytips.com\/index.php\/2023\/02\/09\/do-you-possess-a-map-leading-to-hidden-treasures\/","title":{"rendered":"Do you possess a map leading to hidden treasures?"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/modestmoneytips.com\/wp-content\/uploads\/2023\/08\/2886049-1621273908379-16x9-1-1024x576.jpg\" alt=\"\" class=\"wp-image-365\" srcset=\"https:\/\/modestmoneytips.com\/wp-content\/uploads\/2023\/08\/2886049-1621273908379-16x9-1-1024x576.jpg 1024w, https:\/\/modestmoneytips.com\/wp-content\/uploads\/2023\/08\/2886049-1621273908379-16x9-1-300x169.jpg 300w, https:\/\/modestmoneytips.com\/wp-content\/uploads\/2023\/08\/2886049-1621273908379-16x9-1-768x432.jpg 768w, https:\/\/modestmoneytips.com\/wp-content\/uploads\/2023\/08\/2886049-1621273908379-16x9-1-1536x864.jpg 1536w, https:\/\/modestmoneytips.com\/wp-content\/uploads\/2023\/08\/2886049-1621273908379-16x9-1-696x392.jpg 696w, https:\/\/modestmoneytips.com\/wp-content\/uploads\/2023\/08\/2886049-1621273908379-16x9-1-1068x601.jpg 1068w, https:\/\/modestmoneytips.com\/wp-content\/uploads\/2023\/08\/2886049-1621273908379-16x9-1.jpg 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Here&#8217;s a condensed and rephrased version of the content you provided:<\/p>\n\n\n\n<p>I&#8217;ve always loved the movie &#8220;The Goonies.&#8221; The scene where Mikey discovers One-Eye Willy&#8217;s treasure map is unforgettable. We all cherish the idea of treasure maps. I have my own version of one \u2014 a guide to our financial assets.<\/p>\n\n\n\n<p>Our financial records consist of two main documents: the <strong>Net Worth Spreadsheet<\/strong> and the <strong>Financial Guidebook<\/strong>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong>Net Worth Spreadsheet<\/strong> is an Excel sheet that breaks down our net worth, sticking purely to figures.<\/li>\n\n\n\n<li>The <strong>Financial Guidebook<\/strong> offers a deeper understanding of our financial framework. It&#8217;s a Word document detailing each account, its objective, contacts, and how they interlink. This guide starts with a visual representation, showcasing how our accounts connect.<\/li>\n<\/ul>\n\n\n\n<p>Both resources offer a comprehensive view of our financial situation.<\/p>\n\n\n\n<p>This guide ensures that in my absence, someone can manage our finances without making any assumptions. It decodes my financial decisions in a basic, user-friendly format.<\/p>\n\n\n\n<p>Though I call it a Financial Guidebook, my friend Chelsea from Smart Money Mamas refers to a similar tool as an <strong>ICE Binder<\/strong> (In Case of Emergency Binder). If you haven&#8217;t crafted one yet, Chelsea provides some handy templates.<\/p>\n\n\n\n<p><strong>Contents of the Financial Guidebook<\/strong>:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Introduction<\/strong>:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A clear explanation of the guide with a legend to avoid confusion.<\/li>\n\n\n\n<li>A visualization of our financial connections is also included.<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Bank Details<\/strong>:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Explanation of each bank account&#8217;s purpose.<\/li>\n\n\n\n<li>For instance, we maintain five bank accounts, each serving a distinct role, and the guidebook clarifies their functions.<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Investment Overview<\/strong>:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Describes our two primary brokerage accounts.<\/li>\n\n\n\n<li>Outlines our investment strategies, including specifics about different account types and the reasoning behind them.<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Direct Investments<\/strong>:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Lists angel investments we made in the past.<\/li>\n\n\n\n<li>Provides essential contact information and any other clarity required regarding the investments.<\/li>\n<\/ul>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Insurance Info<\/strong>:<\/li>\n<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A clear list of our insurance policies, their coverage levels, and providers.<\/li>\n<\/ul>\n\n\n\n<p><strong>Regular Updates<\/strong>:<\/p>\n\n\n\n<p>It&#8217;s vital to keep the Financial Guidebook updated. While our net worth may be updated frequently, the guidebook might be overlooked. I make it a habit to review it at least quarterly.<\/p>\n\n\n\n<p>So, do you have a similar guide to your finances? Any suggestions on enhancing mine?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s a condensed and rephrased version of the content you provided: I&#8217;ve always loved the movie &#8220;The Goonies.&#8221; The scene where Mikey discovers One-Eye Willy&#8217;s treasure map is unforgettable. We all cherish the idea of treasure maps. I have my own version of one \u2014 a guide to our financial assets. Our financial records consist [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":{"0":"post-89","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-insurance"},"_links":{"self":[{"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/posts\/89","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/comments?post=89"}],"version-history":[{"count":3,"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/posts\/89\/revisions"}],"predecessor-version":[{"id":367,"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/posts\/89\/revisions\/367"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/media\/365"}],"wp:attachment":[{"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/media?parent=89"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/categories?post=89"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/modestmoneytips.com\/index.php\/wp-json\/wp\/v2\/tags?post=89"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}