This free Net Worth Calculator can be used by any individual to define their net worth by balancing assets against liabilities.
How to calculate my net worth? By subtracting the total value of all liabilities, including student loans and mortgage loans from the total amount of assets possessed, you reach your total net worth.
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A calculation of personal net worth provides your reasonable total of value based on your assets minus liabilities. To figure your net worth you are able to assess your personal financial condition should you sell all of your assets and settle all of your debts.
In managing wealth this is a very important tool. A calculation of net worth should be completed annually, following any period of major adjustment such as tax periods etc. It is crucial to conduct a net worth calculation at similar periods yer after year so that a comparison of investments, 401k accounts and other investments that change over time can be accurately tracked.