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Numbers you should know: Net worth

Numbers you should know: Net worth

| June 05, 2023

When creating or reviewing a financial plan, there are a handful of numbers that you really need to know. Arguably, the top of the list is your Net Worth.

Total Assets - Total Liabilities = Net Worth

Your net worth provides a snapshot of your overall financial health at any given point in time. Net worth is not something you need to track on a daily basis, but there should be a goal of increasing your net worth each year. 

Here's how to start. Download this Microsoft Excel template, and plug in your numbers on the Assets and Liabilities tabs. The Dashboard tab will summarize your totals. This exercise shouldn't take more than about 15 minutes. 

Text, email, or call if you need help or would like to review.