This article and worksheet from the FDIC could come in handy as you navigate your finances. The article discusses net worth and the appropriate definitions surrounding calculating it. Net worth, derived from assets minus liabilities, serves as a vital gauge of financial health, surpassing income alone in its reliability. Income fluctuations don't reflect debt or savings, unlike net worth, which can be positive, zero, or negative. A positive net worth signals financial stability, a zero net worth denotes equilibrium, while a negative net worth indicates debt surpassing assets. Calculating net worth involves listing assets and liabilities to ascertain financial standing accurately.
Click here to read the article.
This communication is for informational purposes only. No content or reference to a third-party article is intended to be a recommendation for the sale or investment in any product, strategy or service nor should it be perceived as individual advice. This commentary does not necessarily reflect the opinions of all employees or XML Financial Group and its affiliates (“XML”). XML is not responsible for any actions taken related to this information.
who we are
Wondering if there might be something more you and your money could do?
There are several different ways to connect with us. Chose whichever you are most comfortable with.
let’s talk