Would you start a diet without knowing your weight? Of course not. So begin your financial planning by determining your net worth. It’s assets minus liabilities, or what you own minus what you owe. Simple enough, but fewer than half of Americans can even approximate their net worth, according to the Consumer Federation of America (CFA). So figure it out…even if the truth is harsh, you’ll be much for successful planning based on real numbers instead of a guess.
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