Financial planning, an outcropping of the services typically provided by a stock broker or account executive, include investment advice, insurance sales, retirement planning, and various other assessments and planning to meet financial goals.
Financial planner Jason Hull explains why it is a mistake to include the full market value of your house in your net worth: "your house cannot independently generate income except in a reverse mortgage, which has its own twists. Basically, owning a home free and clear eliminates the need for you to have a housing expense—save, of course, for property taxes, insurance, and home maintenance costs. If you were to sell your house, then you’d need to use the money that you generated to create a stream of income to pay for your subsequent living arrangements, whether that’s buying another house, renting one, or moving into assisted living." Read the full analysis at: http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2012/09/05/should-you-include-your-home-in-your-net-worth_print.html