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The document is a Net Worth Statement Worksheet designed to help individuals assess their financial position by listing assets and liabilities. It includes sections for various types of assets such as cash, real estate, investments, and personal items, as well as liabilities like mortgages, loans, and credit card balances. The purpose is to calculate net worth by subtracting total liabilities from total assets, emphasizing the importance of updating this statement annually due to fluctuating market values.

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What is a net worth statement also called?

A personal net worth statement shows all of your financial elements, even those smaller accounts and older investments youve all but forgotten about. Having a view of all of these assets and liabilities is vital in creating accurate and achievable financial plans both today and ten years from now.

How do I calculate my net worth?

The balance sheet is also known as a net worth statement. The value of a companys equity equals the difference between the value of total assets and total liabilities.

How to get statement of net worth?

How to set up a personal net worth statement. List your assets (what you own), estimate the value of each, and add up the total. Include items such as: List your liabilities (what you owe) and add up the outstanding balances. Subtract your liabilities from your assets to determine your personal net worth.

How do I figure out my personal net worth?

Your net worth is the value of all of your assets, minus the total of all of your liabilities. Put another way, it is what you own minus what you owe. If you owe more than you own, you have a negative net worth.

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