A builder uses a blueprint to know how a house is put together.
A technician uses a schematic to see how a computer works.
The Financialoscopy® Team uses a trademarked “Financialoscopy® X-Ray” to see how your financial life fits together. Your personalized X-Ray contains seven elements.
All of the financial decisions you make in your life are based upon the very first element -
Covenant Conversion – These are values which have been instilled in you by those who came before, maybe your parents or grandparents. It’s the values that not only drive who you are today, but those values that you return to each time when making important decisions that affect your life and the ones you love.
Family Tree – These are the roots of your past and the branches to the future. For many, it represents the ancestors who came before us and the coming generations that we have the opportunity to impact, far into the future.
Cashflow – During our working years, this may be income from putting in the “time and effort” at a job. It may also include passive income from investments or businesses we own. In retirement, it typically shifts to retirement accounts, savings, and government programs.
Contracts - We all own contracts, some as simple as insurance on our homes or cars to protect those assets. They may also include pensions or social security benefits. Wills, trusts, and life insurance are also forms of contracts.
Unlocked Assets – These assets are easily accessible. They might include savings accounts, certificates of deposit, investment accounts outside of retirement plans, life insurance cash values, and money market accounts.
Locked Assets – For many people during the accumulation stage of their lives, this could be retirement accounts such as IRAs, 401ks, or pension plans, which typically aren’t easily accessible until you reach a specific age. Locked assets could also include items that aren’t necessarily easy to liquidate, such as real estate holdings or business assets.
Liabilities – Most people would refer to this as “debt”, money you owe to someone else. IOU's could include everything from mortgages, home equity loans, car and personal loans, credit cards, or business debt.
The Financialoscopy® X-Ray isn’t a planning tool. Instead, it simply exposes the inner workings of your life: where you are healthy or perhaps, where you are not. This is why everyone should schedule a Financialoscopy®.
