What Your Net Worth Statement Is Telling You
A summary of all your assets and liabilities is a crucial first step toward getting a better handle on your finances.
Compiling a net worth statement might seem like a tedious task. You'll need to gather as much information as you can about all of your assets (including taxable accounts, tax-deferred accounts, real estate, and personal property) and liabilities (including mortgages and car loans). But it’s also one of the best ways to get a clear snapshot of your financial health.