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November 6, 2004 08:18 AM

How Much Are You Really Worth?


Excerpt: If you're like most people, you've never figured out your net worth. Maybe you've eyeballed your assets; added up the house, the 401(k), the brokerage account and the cars, and then subtracted the mortgage, the car loan and a few other things and come up with a roundabout figure, but you need to do better than that.


Microsoft founder Bill Gates is worth about $48 billion, according to Forbes magazine. Donald Trump, about $2.6 billion. Oprah slides in at $1.3 billion. And Martha Stewart is no longer in the billionaires club, but she still has a hefty $335 million or so. What do these people have that you don't? Besides a lot more spending money, that is? They know their net worth.

If you're like most people, you've never figured out your net worth. Maybe you've eyeballed your assets; added up the house, the 401(k), the brokerage account and the cars, and then subtracted the mortgage, the car loan and a few other things and come up with a roundabout figure, but you need to do better than that.

David Marotta, of Marotta Asset Management in Charlottesville, Va., says computing a net worth statement is one of the first things he has prospective clients do.

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Read all 32 posts in the same category of Anything Else:

‘Tis The Season For Wall Street Bonuses - Dec 17, 2004
Coping With Rising Rates - Dec 14, 2004
Financial Resolutions - Dec 11, 2004
IBM Cash Balance Plan Ending - Dec 09, 2004
John Snow Staying On At Treasury - Dec 09, 2004
Topping Off the Biggest Gas Tank - Dec 07, 2004
What To Do With A Dud Gift - Dec 07, 2004
Putting Your Financial House In Online Order - Dec 07, 2004
Social Security Reform: A Guide - Dec 06, 2004
The Disparate Consensus on Health Care for All - Dec 06, 2004
Giving Children Funds As Gifts - Dec 05, 2004
Bank Machine Dispenses Fake Money - Dec 02, 2004
Account Aggregation: All-In-One Convenience - Dec 01, 2004
A Life Fulfilled - Nov 30, 2004
A Seal Of Good Giving - Nov 28, 2004
More Are Saying It With Plastic: Gift Cards The Holiday Present Of Choice - Nov 26, 2004
Use Open Enrollment To Review Health-Insurance Plan - Nov 25, 2004
The Pitfalls of VOIP - Nov 23, 2004
Business Airfares, Down 11%, Might Be Lowest Ever - Nov 22, 2004
International Lottery Scams - Nov 22, 2004
Work-at-Home Schemes - Nov 22, 2004
Medical Billing Opportunities: Worth a Second Opinion - Nov 22, 2004
The Lowdown on Chain Letters - Nov 22, 2004
The Bottom Line About Multilevel Marketing Plans - Nov 22, 2004
Get-Rich-Quick & Self-Employment Schemes - Nov 22, 2004
Could 'Biz Opp' Offers Be Out For Your Coffers? - Nov 22, 2004
Costly Coupon Scams - Nov 22, 2004
8 Lottery Winners Who Lost Their Millions - Nov 22, 2004
Ranks of U.S. Millionaires Surge - Nov 16, 2004
What Wal-Mart Knows About Customers' Habits - Nov 14, 2004
What the Bush Victory Means for Consumers - Nov 03, 2004