Knowing your net worth can help you plan financial milestones to achieve your money goals, like purchasing a home or planning a family. But many folks confuse income with net worth. Your net worth is simply a calculation of your assets minus your liabilities. Assets can include cash in a savings account, 401(k), jewelry, or real estate investments. Liabilities can include any outstanding debts you might have, like student loans, credit card debt, or a mortgage.

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Why You Should Achieve $100K Net Worth Before 40