My Assets

Your Assets, comprise of many different types, they can vary from your bicycle, car, through to your Home, Investment property or shares. Assets cover a large range of items, Wikipedia defines them, as an asset that you can control and can be converted to cash, with cash itself being an asset. Assets are both tangible and intangible.

New Prosperity allows you to input details of your assets in several categories:

  • Property Assets
  • Fixed Assets
  • Liquid Assets
  • Superannuation
  • Life Insurance
  • Investments 

Fixed Assets are a special case as they do not derive an income by definition, where as the others can, but not always!

LOANS: Collating your assets is rarely done by individuals unless applying for a loan, where your financier will need to see all assets you control with you and your partner, in order to assess your loan application.

DIVORCE: Sadly it is also required at the end of a marriage, when it ends in divorce, an all to common occurrence these days.

PERSONAL WILLS & ESTATES: Your assets also need to be collated and called in when your partner dies and your will empowers your executor to “call in the Assets” of the deceased estate. This can be an arduous and costly experience if no records of assets have been kept especially in the case of share ownership of an elderly deceased person. Calling in the Assets is a duty of the executor before probate can be issued in each state.

New Prosperity service empowers you to manage all of your Assets, or some one else’s assets close to you. The account primary user (parents) would be empowered to set up a third party user,  ie son, daughter, Uncle or your parents professional adviser, then they can help out or give advice to manage your parents assets, in this example. 

The “New Prosperity” services extends to establishing the total value of all of your assets whether you own them individually or with your partner as joint ownership, like your home usually. 

SCENARIOS:

Once all information is inputted, this is when New Prosperity becomes empowering to you. At this time you can model scenarios, look at the impact of selling and buying new assets on your after tax dollars net Income.

1 / A simple one is investigating the impact on your Household Earnings After Living & Tax "HEALnT" with respect to the prospect of buying a new investment property in the current interest rate environment!

2 / Managing assets and liabilities is important with respect to your families net worth, monitoring this year by year is of paramount importance with respect to your families wealth aspirations into the future

3 / Manage a loved ones income and assets for the purpose of reporting to centrelink, this can be done no matter where you live or your loved one. Just need an internet connection from any type of hardware these days, great for busy people with centrelink dependent relatives.