uswcc | asset ownership

ASSET OWNERSHIP:An Owner’s Guide to effective growth and managementof assets and opportunities to achieve independence,influence, mobility, and retirement security.

Growth Master \'groth 'mas-ter\ n.One who has mastered the skill to effectively

leverage, manage and grow their assets.

Confidence, Mastery, Achievement

INTRODUCTIO

N

ASSET OWNERSHIP: An Owner’s Guide to effective asset and opportunity management

Introduction: Owner’s Guide

We live in a society driven by assets –many types of assets. Musiciansleverage their talent asset by

entertaining us and build a financial return ontheir asset by performing in orchestras and inconcert. But, if a musician did not practice (grow),or perform (leverage), they would most likely neversee a financial return on their asset.

Assets are all around us – skills, education,homes, cash, businesses, jobs, savings,investments and even talent. The key isrecognizing our available assets, activelymanaging our assets, and leveraging assets toachieve future benefit.

Ownership is not passive; it requires action. Tomaximize the value of an asset, the owner mustact, must control. For example, a business ownerpurchases a piece of machinery used in themanufacturing of a product. If she never plugs itin, never turns it on, never places it into operation,the value sits dormant and the asset is wasted.

This is why effective Asset Ownership is the keyto achieving economic value and why becoming aGrowth MasterTM is a key for women. To achievea maximum return on our assets, we must committo growing, managing, protecting and effectivelyleveraging our assets every day.

This Owner’s Guide provides concepts ofasset growth and management and laysthe groundwork for individuals seeking tobecome masters of growth.

Did you know?

“Women’s earnings, upon which most of theirasset accumulation relies, is only 76% of men’s.This wage gap adds up. Over a lifetime, a woman,on average, will earn $300,000 less than asimilarly situated man.

Compounding the problem of lower wages is the factthat women and minorities are disproportionatelyworking in jobs that do not offer benefits likeaffordable health insurance or on-the-job training

that allow them to advance. These expenses, ifincurred, must be paid out of pocket and cancut substantially into savings that otherwisemight be used for purchasing a home orplanning for retirement.” – Women andWealth: Expanding the Asset DevelopmentParadigm (Anita F. Hill)

T he effectivemanagement of assetsand opportunities is

essential for women seekingindependence, influence andretirement security.

Studies show that women have less assetsavailable to them than men. And, womenwho are single heads of households havesignificantly less assets to leverage for longterm security and retirement. Ultimately,assets are leveraged to achieve independence,mobility, influence and retirement security. So,women must work hard to grow, protect andleverage their assets.

By becoming a Growth MasterTM we areempowered to competently initiate, grow,maximize, protect, use and pass-on wealth.

Margot Dorfman, CEOU.S. Women’s Chamber of Commerce

Asset: A resource having economic valuethat an individual, corporation or countryowns or controls with the expectationthat it will provide future benefit.

Ownership: The act of having andcontrolling.


Mind-Set First. Then Skill-Set and Tool-Set.

MIND-SETMIND-SETMIND-SETMIND-SETMIND-SET

To become a Growth MasterTM, you must beginwith a strong mind-set. No one else owns yourassets. No one else is responsible for initiating,growing, maximizing, protecting, leveraging orpassing on your assets. As the sole owner of yourassets and opportunities, you are in charge. Thisis the mind-set of an owner – the mind-set of aneffective Growth MasterTM.

The ownership mind-set is active– with the privileges andresponsibilities of ownershipnever outsourced. Thecomplete acceptance of theownership role drives theindividual to gain assetmanagement skills and toleverage efficient andeffective tools to maximizeand protect one’s assets.

SKILLSKILLSKILLSKILLSKILL-SET-SET-SET-SET-SET

Once you embrace an ownership mind-set, youare ready to move forward developing the skillsnecessary to make good decisions and takepositive actions towards the management of yourassets. As you grow your asset management skill-set, you will learn how to see and value assets,accumulate assets, effectively and efficientlyleverage assets, protect assets, and use assets toprovide you with long term value.

Becoming skilled at asset management is anessential step before moving forward toselecting the tools and methods you will useto achieve your goals. To be most effective,you should begin with mind-set and skill-setbefore moving forward to tool-set.

TOOLTOOLTOOLTOOLTOOL-SET-SET-SET-SET-SET

With a powerful mind-set and skill-set, you areprepared to select and leverage the appropriatetools necessary to achieve your goals.

You make good decisions and select the mostefficient and effective tools that enable you to bethe master of the process and achieve mobility,independence, influence, and retirement security.

You maximize youropportunities and never letassets languishunderutilized. Youconfidently select toolsthat leverage your assetsand protect you fromexternal risks and threats.

As a complete GrowthMasterTM you drive yourown future.

Have you accepted the ownership ofyour future?

Ownership: The act of having and controlling.

Ownership of:

. . . your life

. . . your choices

. . . your business or career

. . . your assets

. . . your attitude

. . . your influence

. . . your financial future

ASASASASASASSET OWNERSHIP: An Owner’s Guide to effective asset and opportunity management

Examples of Effective Asset Ownership

CAREER

BUSINESS

HOME

RETIREMENT

Karen has one child and isplanning to have a second. Afterher first child, Karen lostsignificant income when she tooksix months off of work and heremployer promoted others insteadof her. After returning to work,Karen seeks out a more family-friendly employer and proves hervalue to the new employer.

Karen earns a promotion and works out aplan to smoothly enable her family leaveand return. Karen’s husband alsoleverages his employer’s family leavebenefits allowing Karen to return to worksooner. During her time home with herchild, Karen continues her educationthrough an online university. Upon returnto work, she makes her employer awareof her continued education.

Susan has worked hard building herconsulting business over the lastten years. Susan is a single mom/head of the household. She realizesthat she has a significant untappedasset – accounts receivables.Susan wants to put this asset towork and protect her business fromthe risk of claims that could seizethis asset.

Susan also wants to assure that herretirement is secure, without worryingabout selling her business or ongoing riskyinvestments in securities. So, sheleverages her accounts receivable assetto a secure a simple interest loan topurchase a life insurance policy that willguarantee the loan, protect her businessasset and provide a steady stream ofincome for her retirement.

Maria and Matt have lived in theirhome for five years. During thattime, the value of their home hasgone up over forty percent.

Matt wants to get a home equityloan to purchase a new truck. Mariarealizes that a new truck will beginto depreciate immediately and thatthis is a poor use of this large asset.

Maria also checks with the auto dealershipand knows that she and Matt qualify for avery low interest loan through thedealership’s lending program.

Maria and Matt agree to make the mostof this asset and assure that theirretirement is secure. They leverage thisasset to secure a financial product thatwill guarantee lifetime income.

Adrienne and Lee have retired andare living of f the cash flowgenerated by their retirementplan. However, they learn the lifeinsurance they carry is worthmuch less than their total networth. This means they have animpor tantasset that,if not

leveraged now will pass with them.But, they don’t want to disturb theircurrent cash flow and investments.

Their financial advisor shows them howto secure premium financing to leveragetheir net worth, secure additional lifeinsurance and leave a legacy for theirfamily or charity without any funds outof pocket. They work with their advisor,CPA and attorney to leverage this asset.


Leverage your Assets for Income, Profits &Fulfillment of Potential

Who’s benefiting from the profits of your business?

Have you realized the full value ofyour business assets?

Many times business owners investall their time and money in theirbusiness, believing they will sell theirbusinesses to fund retirement.

Unfortunately 74% of businessowners fail to sell their businesses.

How will you fund your retirement?

Who’s benefiting from your home loan?

Have you ever stopped to thinkhow mortgage lenders makemoney?

A mortgage is a method of usingproperty (asset) as security for thepayment of a debt. Mortgage lenders leverageYOUR ASSET (your house) to secure the loan.Then, they take YOUR monthly payment (assets)and leverage that payment to earn interest ontheir investment. Or they simply sell YOUR ASSETto someone else and make money off of the sale.

Can you do a better job of leveraging your assets?

Have you leveraged your net worth?

Have you leveraged your net worthwithout disturbing your cash flow toestablish a legacy for your family orfavorite charity?

If you are not looking at your net worth asan asset to be leveraged, you should. Manyseniors plan for their retirement, leverage theirassets to fund their retirement, and forget thatthey may have additional value in their net worththat can be leveraged to increase their legacy.

Unleveraged net worth may pass with your death.Act to maximize the product of your hard workand leave a legacy.


Asset Management is a Lifelong Process

Asset management is a lifelong process thatincludes the management of skills,education, homes, cash, businesses, jobs,

savings, and investments.

STAGES OF ASSET MANAGEMENT

Each individual goes through severaleconomic stages over the course of theirlife. The effective management of thesestages will bring the greatest economicreturn, security and legacy.

Initiate Wealth• Business and Career Education

Grow Wealth• Business and Career Growth

Maximize Wealth• Tax & Wealth Building Strategies

Protect Wealth• Family & Home

Use Wealth• Retirement

Pass On Wealth• Legacy

The Link Between Assets and Wealth

The identification of “wealth” and “assets” areclosely linked. Wealth is something of value (anasset) that is capable of being appropriated orexchanged.

Wealth: Anything that has utility and is capable ofbeing appropriated or exchanged.

Asset: A resource having economic valuethat an individual, corporation or countryowns or controls with the expectation that itwill provide future benefit.

“Be the chess player,not the chess piece.”


The Circle of Wealth: Initiate, Grow, Maximize,Protect, Use and Pass On Assets

INITIATE WEALTH:Initiating wealth comes with thedevelopment of assets likeeducation, career, or a business.

PROTECT WEALTH:As wealth grows, it is important toprotect your assets from risks likenatural disasters, health issues,legal claims, and loss.

MAXIMIZE WEALTH:As your assets grow andmature, you must learn andleverage tools that can limittaxation and maximize yourreturn on assets.

GROW WEALTH:Many assets require nurturingand development to matureinto the size or powernecessary for leveraging. Forinstance, new businesses mustdevelop positive cash flows,careers must advance, etc.

USE WEALTH:At some point, you will beginto use your wealth (and youmay see the end of the wealthinitiation stage). It is veryimportant that you manageyour assets effectively andhave enough wealth to lastthrough your retirement years.

PASS ON WEALTH:One of the great values ofasset management, is theability to leave a legacy.Through effective assetmanagement you willpositively impact futuregenerations.

ASSET OASSET OASSET OASSET OASSET OWNERSHIP: WNERSHIP: WNERSHIP: WNERSHIP: WNERSHIP: An Owner’s Guide to effective asset and opportunity management

The Next Step is Yours

The U.S. Women's Chamber of Commerce™ unifiesthe collective strength of women to leverage ourposition as the most influential economic force inAmerica.

As the driving force of the Women’s EconomicMovement™, the USWCC establishes strategies andtools, a bold new women’s economic platform(USWCC | New Deal™) and a community forprogress (USWCC | Community).

U.S. Women’s Chamber of CommerceTM

1200 G Street NW, Suite 800Washington, DC 20005web: http://www.uswcc.orgtel: 888-41-USWCC

©2007 U.S. Women’s Chamber of Commerce™.

WomenO: Women to the Ownership Power

The symbol above is a visual reminder of ourcommitment to ownership. As Gandhi said,“You must be the change you wish to seein the world.”

WomenO has as a principle one driving belief; wemust “own” our actions, our lives, and the outcomesthis “ownership” privilege creates. Through thecommitment to this ownership force, we areshaping the world to be what we wish to see.

JOINUS

Go to: www.uswcc.org/joinusOr call 888-41-USWCC

This Introduction to the Owner’s Guide toAsset Ownership provides concepts of assetgrowth and management and lays the

groundwork for individuals seeking to becomeGrowth MasterTM.

The next step is yours.

In following chapters of this Owner’s Guide, we willdig deep into all aspects of effective assetmanagement. If you want to learn more, join ourlocal or on-line Growth MasterTM sessions.Be part of the community of individuals who aremastering growth skills to leverage, manage andgrow their assets – increasing their personal,financial, professional and communityopportunities. Learn more at http://www.uswcc.org/html/growth.aspx.

uswcc | asset ownership

Documents