Do You Know Your Actual Net Worth? Salary Is Not Wealth
If someone asked me how much I am worth today, I should be able to answer with more than my monthly salary. Net worth is simply everything I own minus everything I owe. For example, someone with ₦150 million in assets and a ₦15 million loan has a net worth of ₦135 million. Assets can include land, a house, shares, cash and a business. Liabilities include loans and other debts. Income is not the same as wealth. A person earning ₦2 million monthly can still have little or no net worth if most of it is spent or tied to debt. Meanwhile, someone earning less may steadily build wealth by buying assets, investing and growing a business. I am building a tool because tracking investments alone does not show the full picture. This weekend, calculate your own number honestly: list your assets, subtract your debts and see where you stand.
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