Do You Know Your Net Worth?

If I were to sit down with you and ask you how much was in your retirement account, how long would it take to dig up this number?

If I were to ask you what were the estimated values of your assets, how long would it take to get these numbers?  Do you even know what the difference between an asset and liability is?

If I were to ask you the amounts of your various loans were, do you know these amounts?  Do you know your minimum payments, actual payments and various interest rates?  Do you know how much you owe on your mortgage?

Suppose you have calculated your net worth, do you know what it was a year ago.  Do you know if you are improving from year to year?  Are you letting time slip away like most Americans?  When is enough, enough.  Do something about it.  Now!

The fact that you are reading this means you are ahead of 90% of Americans.  If you could only take some action, you will start beating half of the remaining 10%.  Check out Paul and Donald's race to a million dollars at www.blogtoamillion.com.

This post was reposted from http://finlit.biz/business/do-you-know-your-net-worth/, originally written on January 29th, 2013.