# 62: Why You Should Be Tracking Your Net Worth

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    Why you should be tracking your net worth

    I have had several conversations with my colleagues about personal finance and retirement. During these conversations, it becomes clear that most people have no idea what they actually need to retire or whether they have enough cash flow for not following it.

    In this podcast, we’re going to talk about how to track your finances.

    Now let’s look at what we discussed in this episode:

    • How do you calculate your net worth?
    • What is an asset versus a liability?
    • Why should you track your net worth?
    • How to Track Your Net Worth

    Here’s a breakdown of how this episode played out …

    [5:11]

    A positive net worth means that your assets outweigh your liabilities. Growing net worth means you are doing a good job building assets and minimizing liabilities.

    [9:25]

    I would also recommend, in case you haven’t already, consider tracking your net worth. You will find out a lot about yourself, your expenses, where you put your money in relation to your investments, you will find out where you stand.

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