Now that you have defined your goals, it is time to gather the information you will need to develop your financial plan. Examples of the types of financial records that you will need include the following:

• income (payroll, interest, dividends)
• debt (mortgage, credit cards, loans)
• personal expenditures
• tax returns
• insurance policies
• retirement and pension statements
• other savings or investment statements

It is imperative that you gather the most recent financial information that you have in all of these categories. The ability to develop a sound, comprehensive financial plan will depend greatly on the availability and accuracy of this data.

Step Three - Determine your net worth