Just to set the context, shinju (pup's officially named) principal cost of $6588 is a HBD gift to my lady-girl of the house and daughter of the lady-boss. To them, it's merely a new family addition but as a number crunching guy, the risks & returns started as soon as the ka-ching chimed from my digital card. How do I input this super adorable pup in my personal financial sheets? Asset or Long-term Liability in my Net Worth or Variable Outflow in my Cash Flow Statement! To me, it's an aggregation of a lovable asset with one-off cash outflow but a long term liability. Systematic Risks is the overall, day to day ongoing risks caused by multitude of factors; geopolitical, markets, interest rates, economy and so on... Risk management is the cornerstone of any financial planning effort because risks are inherent in our everyday life. Crossing the streets, driving a...