What Is Your Net Worth?

There's a well-known phrase: “Money makes the world go round.”

Allow me to present a fresh perspective:

Your enduring wealth keeps your world in motion.

With 18 years of experience in the banking sector, I find great enthusiasm in discussing money and its sustainability.

During my time as a private banker, understanding my clients' net worth was crucial.

It served as the foundation from which I could strategize to enhance their portfolios.

So, I pose this question to you: What is your “Net Worth”?

This represents your financial statement. Recognizing this figure is vital as it informs your goals, savings, investments, and spending habits.

Your net worth differs from your monthly income; it reflects your financial standing. You should assess regularly to track your progress and prepare for the future.

Here are some pointers to calculate your net worth:

• Assign a monetary value to your assets (what you own) and liabilities (what you owe).

• Subtract the monetary value of the liabilities from the value of assets.

• Be cautious of items that may not hold significant value or are not easily liquidated.

  For instance, your gold jewelry qualify as assets while a designer perfume does not.

But don’t worry, smelling good is still a priority!

I'll leave you with a thought from T. Harv Eker: “The true measure of wealth is net worth, not working income.

Try to evaluate your net worth; consider converting it from your local currency to US Dollars, the global reserve currency, to understand your financial health, especially in times of inflation.

Evaluate your net worth today.