How to calculate your net worth (and why you should)
Trying to build wealth without knowing your net wealth is like steering a ship without a compass. You might not get very far, and you could even go backwards.
A few years ago a couple stepped into the office of financial adviser Jess Brady. Let’s call them Geoff and Stacey. Stacey was happy to be there; Geoff not so much. He thought that because he was on an exceptional income, he didn’t need guidance.
One of the first things Brady did was have Geoff and Stacey map out their net wealth position.
Lucy DeanWealth reporterLucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com
