Generally net worth refers to a
company's total Assets minus their
Liabilities.
In personal
finance your net worth is your total wealth
or what you own minus what you owe.
It is extremely helpful for individuals to
know how much their total net worth is and
how much you can expect it to grow (or
shrink) based on your current income and
expenses.To use this calculator :
Step 1: Your Assets - Enter in the total
amount of real estate, investments, personal
property, and cash, click next.
Step 2: Your Liabilities - Enter the
mortgage, and other loans amounts.
Step 3: Growth - Slide the yearly asset
growth cursor to the correct percentage on
the chart.
and slide the liability growth cursor to
the correct percentage on the chart.
Finally - You will get what could be your
net worth in ten years. >
Playing with the sliders will give you a
very good idea of what effect a negative
liability growth (paying off debt) versus a
higher asset growth will have on your net
worth down the road.
If you would like to be able to track your
Net Worth over a longer period (and i highly
recommend doing that) the best way is with a
spreadsheet. I have posted the one I
use.
Download Net Worth Calculation and Tracking
Spreadsheet.
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