Today on the Finance Flash Go! podcast, I’ll share how to calculate your net worth AKA the scorecard of your wealth!
What is net worth?
Net worth is the scorecard of financial well-being, security, and ultimately independence. You want to increase your net worth every day.
To review, net worth is equal to all of your assets added up subtracted by all of your liabilities added up.
In the way of definitions, assets are things that put money in your pocket. A cash-flowing real estate investment property is an asset. A liability is anything that takes money out of your pocket. A brand new luxury car that depreciates 10% when you drive it off the lot is a liability.
Without keeping score, we have no idea how we are doing financially.
10 Reasons a Hybrid Investing Approach is Best
How to Find the Perfect Balance Between FIRE & YOLO
5 Easy Steps for Physicians Who Hate Personal Finance
Finance Flash Go! Episode #45: Small Cap vs. Mid Cap vs. Large Cap Stocks
My Stock Portfolio Is Better Than Your Financial Advisor’s
Stress Free Stock Market Investing Is Easier Than It Seems!
Important Money Lessons That I Learned From My Wife
Finance Flash Go! Episode #44: Understanding Growth vs. Value Stocks
I really hope that you all enjoy the Finance Flash Go podcast! We plan to release a new episode every weekday answering important finance questions. If you ever want to submit a question to our podcast, send an e-mail to [email protected]
Also, please subscribe and give us a 5-star rating if you enjoy the podcast! It helps us continue our mission of helping all of us to achieve financial well-being!
Like the blog?! Don’t forget to join our Facebook group and sign up for our weekly newsletter using the form below (under the comments)!