My Net Worth Statement
A Net Worth Statement is an accounting of everything you own and everything you owe. It illustrates your finances at a specific moment in time. It's a spring board from which to make plans to better your financial situation. (We discuss how in the section below: Reviewing Your Net Worth Statement).
You can create a Net Worth Statement to provide a summarized financial snapshot in a few minutes. If desired, you can then make it more detailed over time.
If you've set financial goals, redo your net worth statement every six months to track your progress toward them.
If you would like to plan ahead to see what you would have to spend if you became disabled or go on retirement -- and how long your money could last -- see Financial Planning For Disability and How Long Will Your Money Last?
For information about a net worth statement, see: