Personal Finance 1st Edition by Jack R. Kapoor

Exercise 12

1 How can you calculate your net worth today and at retirement?

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2 What assets are considered marital assets?

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Step 1 of 2

1.

We can calculate our net worth today and at retirement by deducting liabilities from assets. Our assets include everything we own that has value: cash on hand and in checking and savings accounts; the current value of our stocks, bonds, and other investments; the current value of our house, car, jewelry, and furnishings; and the current value of our life insurance and pensions. Our liabilities are every-thing we owe: our mortgage, car payments, credit card balances, taxes due, and so forth.