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Basically, a finance question. I personally do not know how much my own personal net worth is? But what’s YOUR Net worth and how would you go about figuring that out? I’m pretty sure they would add up Your cars, houses, property, boats, or anything expensive you have perhaps? And also your bank accounts? What else am I missing here?
What you own + how much money you have.
John has 5 thousand dollars and a 10 thousand dollar car. John rents his appartment for a thousand a month. His net worth is 15 thousand dollars.
People who rent appartments and houses have less innate value due to renting rather than owning.
If john was putting that 1000 dollars on his mortgage than he would own the proportional total of his house value, until he pays it off and at that point his house is added to his assets increasing his net value.
Because of this increase in his net value he can move into progressively higher levels of homeownership due to the value of the prior house being used to pay for his current upgrade house.
My house and property is the biggest component.
Savings/retirement funds next.
Value of automobiles after that (both my wife and my car are Paid In Full - PIF cars)..
Then items in my household
Idk my networth I have money everywhere Id have to go through stuff to find out and I dont wanna know honestly because my stocks and crypto are down anyways