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What Is Net Worth?

Net worth is a way to track your financial progress or to get a snapshot of your financial status at a given time. In a way, net worth can be thought of as a measure of your financial health. The greater your net worth, the greater your ability to achieve major financial goals and to withstand unexpected financial stresses, such as being laid off or having a serious illness.

I should emphasize, however, that net worth is not a contest. The point is not to have a higher net worth than your friends and co-workers, but rather to use net worth as a tool to evaluate your own financial situation and progress. There are no net worth yardsticks to measure yourself against.


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