Financial Health

Wed, Jul 16th,2014
The financial health of a firm or individual speaks to the state of a firm or an individual's personal financial situation. In the case of an individual, the scope of his/her financial health includes the amount of savings, the value of his / her retirement portfolio, and how much income is spent on fixed (unavoidable) expenses. While there are standard guidelines set by financial experts to assess an individual's financial health, each person's situation is different. For this reason, it is worthwhile to develop a personal financial plan to ensure that you are on track with your financial goals, and you are not exposed to undue financial risk if the unexpected occurs.