Net Worth Statement
A good financial habit to have is to periodically estimate your net worth. The end of the year is typically a good time to do so as most financial institutions produce year end statements, making gathering the information easier. It really is a very simple exercise. Add together all assets, and then subtract any liabilities; the result is your net worth.
Why do it? Simply to get a better handle of your overall financial well being, as well as its progression. If over time your net worth is increasing, that is generally a good thing.
To get you started we’ve included this link to a simple worksheet. And if you need more help, simply call us and we can do more financial planning exercises together, to help answer the question: Are you going to be OK?
