Personal net worth: Why it is important to know
Calculating the numbers -- Steve Sorensen net worth There comes a time in a person’s life when they reflect on how much they have accomplished in life, how much of it can be put into numbers, and what that number is. Calculating one’s personal net worth is easy – simply add the value of assets and subtract the value of liabilities. Depending on the value one ends up with, a person decides to make lifestyle changes. Here are four reasons why it is important to know one’s personal net worth. Steve Sorensen net worth . See debts clearer : By seeing all liabilities, one can get a grasp of where most of their money goes when they are paying debts. Having this knowledge allows them to make the adjustments in which loan to prioritize, how to pay them more efficiently, and to clearly see the results after making such changes. Steve Sorensen net worth. Preparation for retirement : Before one can retire, knowing their net worth can let them know if it’s possible to retire at an earlier age