To someone who doesn’t have a lot of assets, knowing their net worth might seem pointless, but experts say it’s an important indicator of financial health, no matter how big or small the number.
“At the end of the day, it’s not about how many zeros you have, it’s really about whether the net worth you have reflects that you’re on track toward your financial goals,” said Brenda Hiscock, a certified financial planner at Objective Financial Partners.
Your net worth is measured by adding up the value of all the assets you own and subtracting your outstanding liabilities. The result gives you a snapshot of your overall financial picture….