When conducting a financial asset analysis, what should be included?

Including all of the individual's assets in a financial asset analysis provides a comprehensive understanding of their financial situation. This approach allows for a complete evaluation of both liquid and illiquid assets, such as real estate, investments, retirement accounts, and personal property. By examining the entirety of an individual's asset portfolio, a more accurate assessment can be made regarding their net worth, investment diversification, and overall financial health.

Focusing solely on liquid assets, as suggested by one of the other choices, would provide an incomplete picture and could lead to misinformed financial decisions. Similarly, restricting the analysis to only real estate and cash, or to just savings accounts, would overlook other potentially significant assets, including stocks, bonds, and valuable personal belongings, which are critical for a full understanding of someone's financial standing. Evaluating all assets enables personal financial counselors to offer more effective advice tailored to the individual's comprehensive financial landscape.