Net Worth is snapshot of your current financial position and an important metric to gauge financial health.
Your Net Worth is comprised of various pieces. To get a true comprehensive picture of your finances, we take into consideration of all the moving variables. We break up Net Worth into 4 components: cash, investments, assets, and debt.
Net Worth = Cash + Investments + Assets + Debt
Cash
The types of accounts included are checking, savings, and money market accounts.
Investments
The types of accounts included are brokerages, retirement accounts, and cryptocurrency accounts.
Assets
The types of accounts included are real estate, vehicles, valuables, and other.
Debt
The types of accounts included are mortgages, student loans, auto loans, personal loans, and credit cards.