Net worth is the single clearest measure of your financial position: everything you own, minus everything you owe. Fill in your numbers to see where you stand right now.
Income tells you what flows in; net worth tells you what you've actually built. It's the total of everything you own minus everything you owe, captured in a single number. Two people with identical salaries can have wildly different net worth depending on how much they've saved and how much debt they carry. That's why net worth, not income, is the truer measure of financial progress.
On the asset side: cash and savings, taxable investments, retirement accounts, the market value of your home and vehicles, and other valuables. On the liability side: your mortgage, auto and student loans, credit card balances, and any other debt. Use current market values rather than purchase prices — what your home would sell for today, not what you paid.
A single net worth figure is a snapshot. Its real value comes from watching it over months and years. A steadily rising line means you're building wealth — paying down debt, investing, letting assets grow. Comparing yourself to others by age or income is far less useful than beating your own number last quarter. Calculate it regularly and the trend will tell you whether your plan is working.