How to calculate the net worth of a person

Coming up with a number– Steve Sorensen net worth

There are a few times in a person’s life when they are asked to submit an estimate of their net worth. It could be for personal reasons such as assessing one’s success, or for documentation purposes like when filling for insurance. Personal net worth also takes into accounts one’s debt. Thus, net worth is the sum total of what a person has left after selling all their assets and paying off all their debts. The more wealth a person has, the more difficult it would be to come up with a number. Steve Sorensen net worth.

An easy way to do the calculation

Steve Sorensen net worth. The first step in calculating personal net worth is to list down all assets. These include account balances, properties like houses and automobiles, as well as stocks or bonds that one has invested in. Other items that are significantly cheaper than an automobile like a TV or a kitchen oven are usually skipped. On each of the asset, try to come up with an estimated value. One may look online for similar properties and assets for an idea of their real-world value. Steve Sorensen net worth.

Next, list down all current liabilities which are often debts. These could come from a mortgage, auto loans, credit card debts, student loans, and so on. There’s no need to compute for the interest rates of each loan, just the total loan that still needs to be paid. Steve Sorensen net worth.

Add all the items on the assets, as well as your debts. Once done, simply subtract the debt from the total of the assets. Calculating personal net worth more frequently can help if an individual has financial problems. It can help with assessing expenses and keeping track of outstanding loans. Steve Sorensen net worth.

Author: Steve Sorensen Networth

Hello there. I'm Steve Sorensen, a Des Moines-based investment strategist and business blogger. Welcome to my business blog. I received my degree in business from Iowa State University. I do a lot of research on many of the world's most successful companies, in particular on how they built up their net worth over the years. Not only do the success stories of Fortune 500 companies fascinate me so, they also provide a framework to analyze the potential growth outlook of many companies. This assists me in helping my clients find the right mix of companies to add to their portfolios. I spend my weekend downtime keeping fit by playing tennis doubles with friends. I enjoy country music and like to keep updated on the country music festivals. Check back from time to time to see what I've written about.

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