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What’s Your Net Worth? Here’s How to Figure it Out
It’s very easy to find the net worth of some celebrity or wealthy socialite. All you have to do is look it up on Google and there it is. But how do you find out your own net worth?
If you’ve ever been curious about how those numbers are calculated, we have your answer right here and now you can figure it out for yourself as well. It’s actually quite easy. It’s just a simple formula that’s easy to remember and just as easy to figure out — if you have a little extra time during the day.
The purpose of net worth is to determine your financial health and it makes it easier for people to see if they’re heading in the right direction in terms of personal finance goals. It’s used both professionally and personally and goes by different names like a shareholder’s equity or book value.
So by reading this and figuring it out for yourself, you are actually one step closer to your personal financial goal.
Your Assets
Let’s start off by listing your assets. Your assets, as you probably guessed, are things you own. That includes your car, your home, furniture, jewelry, art, and what’s in your bank account.
It also includes your investment accounts and their value. However much you have in these accounts will also play into your net worth…