NET WORTH

Your net worth is your assets minus your liabilities and is a key element to your financial plan. However, as stated repeatedly, it is the budget that controls your life more so than your net worth. Having a whole mess of money but with no comprehension of how long it will last invariably leads to financial problems later on. Unfortunately, it may be when you are 70 or 80 years of age when you run out of money and then it is almost always too late to do much about it.

ASSETS	..........................	LIABILITIES	...........................
CASH EQUIVALENTS		Charge accounts
Savings Account		Credit Care debt
Checking account		Personal loan
Money market bank account		Student/tuition loans
Money market fund account		Auto loans
Certificates of deposit		Home mortgage
Credit Union account		Home Equity Loan
U.S. Treasury Instruments		Other real estate loans
Savings Bonds		Business loans
Cash Value of Life Insurance		Alimony
		Child support
		Credit lines
INVESTMENTS		Income taxes
Individual stocks		Property taxes
Bonds		Other taxes
Mutual funds		Life insurance loans (if scheduled for repayment)
Closed End funds		Margin loan on securities
Partnerships		Other liabilities
Unit investment trusts		Other
Options
Futures
Commodities
Business interests		TOTAL ASSETS minus
Other		TOTAL LIABILITIES
		Equals NET WORTH
REAL ESTATE
Personal Residence
Second home/vacation home
Rental properties
Real estate partnerships not included above
Other
PERSONAL ASSETS
Collectibles
Art
Gold and silver
Jewelry
Antiques
Coins and stamps
Furnishings
Automobiles
Campers
Boats
Plane
Other
Other
Other
Other
TOTAL ASSETS