Risk Management - Why consider it?

What are your assets?

When you think of the term ‘assets’, you most likely visualize possessions such as your home or your car, perhaps you think of jewelery, savings or investments. As valuable as these are, a family’s assets also include intangible objects that may not immediately be considered in dollar terms like:

1. Relational Assets - assets based on the relationships you have with people closest to you such as:
   • your spouse and their contribution as a breadwinner or home manager;
   • your children and their future potential;
   • yourself and your contribution as a breadwinner or home manager;
   • other dependants, such as elderly parents; and
   • children from a previous marriage.
2. Personal Assets
   These are assets which have a quantifiable dollar value and which you identify as part of your personality, such as:
   • your home;
   • your motor vehicle; and
   • Your household possession and valuables.
3. Financial Assets
   These are things which hold financial value but which generally have no personal or emotional value, such as:
   • superannuation;
   • investment property; and
   • shares, bonds and bank accounts

Risk Management aims to help you determine the full scope of your assets, their worth and how you can best protect them.