NET WORTH

Your net worth is your assets minus your liabilities and is a key element to your financial plan. However, as stated repeatedly, it is the budget that controls your life more so than your net worth. Having a whole mess of money but with no comprehension of how long it will last invariably leads to financial problems later on. Unfortunately, it may be when you are 70 or 80 years of age when you run out of money and then it is almost always too late to do much about it.

ASSETS .......................... LIABILITIES ...........................
CASH EQUIVALENTS Charge accounts
Savings Account Credit Care debt
Checking account Personal loan
Money market bank account Student/tuition loans
Money market fund account Auto loans
Certificates of deposit Home mortgage
Credit Union account Home Equity Loan
U.S. Treasury Instruments Other real estate loans
Savings Bonds Business loans
Cash Value of Life Insurance Alimony
Child support
Credit lines
INVESTMENTS Income taxes
Individual stocks Property taxes
Bonds Other taxes
Mutual funds Life insurance loans (if scheduled for repayment)
Closed End funds Margin loan on securities
Partnerships Other liabilities
Unit investment trusts Other
Options
Futures
Commodities
Business interests TOTAL ASSETS minus
Other TOTAL LIABILITIES
Equals NET WORTH
REAL ESTATE
Personal Residence
Second home/vacation home
Rental properties
Real estate partnerships not included above
Other
PERSONAL ASSETS
Collectibles
Art
Gold and silver
Jewelry
Antiques
Coins and stamps
Furnishings
Automobiles
Campers
Boats
Plane
Other
Other
Other
Other
TOTAL ASSETS

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