What is Your Net Worth?

Filling out a net worth document should be something you do at least once a year (twice if you are really into it).

You should also involve your spouse. It is simple to do, but may involve a little research at first. It is simply your assets and what you own minus what you owe. Having this written down also helps you track your accounts and allows you to see how you have done the past 12 months at paying down your loans, saving for retirement etc. Here is a nice example from Schwab.

Action Step for You: By the end of January, fill out your net worth worksheet.