#62: Why You Should Track Your Net Worth


Why You Should Track Your Net Worth

I’ve had several discussions with my colleagues regarding personal finance and retirement. Throughout these conversations, it becomes evident that most people have no idea what they actually need to retire or if they have enough cash flow because they don’t track it. 

In this podcast, we are going to talk about tracking your finances.

Now, let’s look at what we discussed in this episode:

  • How do you calculate your net worth?
  • What is an asset vs a liability? 
  • Why should you track your net worth
  • How to track your net worth 

Here’s a breakdown of how this episode unfolds…

[5:11]

A positive net worth means that your assets outweigh your liabilities. A growing net worth means that you are doing a good job of building assets and minimizing liabilities. 

[9:25]

I would also recommend, if you haven’t done so, think about tracking your net worth. You are going to find out a lot about yourself, your spending, where you are putting your money in terms of your investments, you are going to find out where you are at. 

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