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How Do I Calculate My Net Worth
Your net worth statement is a snapshot of your financial situation, analagous to a corporation's balance sheet. You need to know where you stand before you can develop a financial plan designed to help you reach your financial goals. Assets are what you own; Liabilities, what you owe. Don't be alarmed if you have a negative net worth -- you have plenty of company. However, you'll need to develop a plan that will allow you to slowly build your net worth.

To calculate your net worth, fill in values for each specific asset or liability. If you run out of boxes for any category, add remaining values together and input the category subtotal.
 1. ASSETS
Cash $
Checking Account $
Savings & CDs $
Retirement Accounts*
Retirement Account 1 $
Retirement Account 2 $
Retirement Account 3 $
Real Estate
Home (total value**) $
Other $
Life Insurance Cash Value $
Other $
TOTAL $
* 401(k), 403(b), IRAs, self-employed pensions
** total market value, NOT your equity
 2. LIABILITIES
Mortgage Balance - Residence $
Credit Cards $
Bank Loans $
Home Equity Loans $
Car Loans $
Student Loans $
Other Mortgage $
Personal Property $
Other $
TOTAL $



 3. NETWORTH $

 
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