In this video, I share our real number net worth as of May 31, 2024. When we started this journey back in 2020, we had over $120,000 in student loans. Over the last two years, we have more than doubled our net worth by decreasing our liabilities and increasing our assets. I talk about how to calculate your net worth and how our net worth has changed over the last year. I also discuss our current financial goals and our progress towards our 2024 financial goals which include maxing out two Roth IRA's for 2024, saving for a basement remodel, saving additional money towards our emergency fund and saving for our kids college funds.
Knowing your net worth is a critical part of your financial picture. Many confuse income with net worth; however, they are very different. Your net worth is a calculation of your assets minus your liabilities. Assets can include cash in a savings account, 401(k), jewelry, or real estate investments. Liabilities can include any outstanding debts you might have, like student loans, credit card debt, or a mortgage.
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PLEASE NOTE: I am not a finance professional and just want to share my journey openly and honestly. This is only my experience and not intended to give financial or legal advice.
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1 окт 2024
