Ep #16: Net Worth - Measuring Your Financial Health
Do you know what your net worth is? Or more importantly, do you know why knowing where your net worth falls is an important factor when it comes to measuring your overall financial health? The new year is a great time to take a barometer of your financial health so you can get your financial house in order for the year and beyond, and in this episode, I’ll be taking you through how to do just that.
Listen on as I explore what net worth is, the components of net worth, and seven ways that you can improve it over time. I also discuss the decisions that can impact your net worth and the importance of making smart choices now to achieve true wealth and financial independence over time. This episode is for anyone looking to take control of their finances this year and really move the needle in building their wealth!
Listen to the Full Episode:
What You’ll Learn in Today’s Episode:
The common components of net worth.
How your net worth plays into your wealth.
The difference between being rich and being wealthy.
Why it’s best to avoid the comparison trap.
Seven steps you can take to increase your net worth.
Ideas Worth Sharing:
“The interesting thing about net worth is that, for a lot of people, it’s just a concept.” - Stanley Funches
“You can have things, but are you building wealth?” - Stanley Funches
“Net worth is a function of your wealth.” - Stanley Funches
Resources Mentioned:
Ep #03: Wealth Creation Wisdom with William Taylor, Jr., CPA, CFP®
The Quest For Financial Independence by Stanley Funches
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