How To Track Your Net Worth
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The formula — and what it really measures
Net worth is the single clearest snapshot of your financial progress: total assets minus total liabilities. Tracking it quarterly for 5 years will tell you more about whether your financial decisions are working than any budgeting app. This guide covers what to include (and what to leave out), how to value tricky assets, how often to update, and the handful of numbers that tell you if you’re on pace for major life milestones.
What counts as an asset — and at what price
A 32-year-old with $8,000 net worth but +$20,000 YoY growth is doing better than a 55-year-old at $400,000 with flat or declining change, because trajectory matters more than altitude.
What NOT to count (or count carefully)
Set a recurring calendar event on the 1st of each quarter, take 30 minutes, update one spreadsheet or calculator. Done.
The liabilities list
These are rules of thumb for W-2 earners with Social Security supplement. If you’re self-employed, want early retirement, or want higher lifestyle in retirement, you need more.