First, a joke:

Why don’t scientists trust atoms?

.

.

.

Atoms make up eeeevvveerryyyttthhiiiinnnggg…

And now, a plea. How well do you understand the idea of having a “net worth” and is it something you track? Consider this (somewhat) recent piece from the folks at Credit Karma:

• More than half of Americans don’t know how to calculate their net worth (51%)
• Nearly one-third of Americans have a net worth of $0 or less (31%) 
• 30% of Gen Z care more about celebrities’ net worth than their own

The article goes on to paint a not-so-great picture about recent trends surrounding Americans’ grasp of the whole “net worth” idea.

It’s important to highlight that “net worth” is not just something for wealthy people to pay attention to (depending on how you define the ideas of “wealth” and “being wealthy,” anyway).

Here’s a more positive note from the authors, though:

“Knowing one’s net worth is often the first step in increasing their net worth.”

Adding to the positivity, the proverbial “they” also like to say that, “what gets measured gets improved.”

Maybe I’m biased, but I also believe it’s a good use of time to know where you stand in terms of your net worth. Arming yourself with this understanding is a great place to start if you want to focus on increasing assets and/or decreasing liabilities so you can improve your net worth.

Anyway, please feel welcome to share your thoughts by sending a brief note to hello@leewayplanning.com if you’d like!

Thanks for your time and may you have a swell rest of the day.

Sincerely,

Cody L. Ward