As I’ve written before, there are a number of different ways that people will define financial success – right or wrong. The best measurement that is a true indication of your financial success is net worth.
What is Net Worth?
Net worth is the metric that reflects your level of wealth and financial success, and it’s calculated by taking the total of all of your assets minus the total of all of your liabilities.
So, ASSETS – LIABILITIES = NET WORTH
What are “assets”?
Everything you own, including home(s), car(s), cash in the bank, retirement accounts, etc