How to Systematically Increase and Track Your Net Worth


The question is, "Do you use a special type of form or process to track your net worth? What metrics do you use?"

For my coaching clients, I have created a Net Worth Calculator in your Google Drive. This is a very simple calculator.


Manually enter the date and your assets (house, vehicles, jewelry, cash or cash equivalents, etc.) into the Net Worth Calculator. It also includes Investments such as retirement accounts, stocks, bonds, and more.

For my company, I'm conservative with the numbers. I could leave my real estate company in a pretty short amount of time, and there's some value there. I put one year's cash flow for that business. You'll have to make some estimate for the value of your business. These numbers will yield your total assets.


The other side of the calculator is a little more interesting. We carry a mortgage on our house and no other debt, and the goal is to pay off that mortgage. If you have any other loan balances you need to list them all, and the goal is to get rid of all your liabilities.

I carry some credit cards, but only revolving just to get points. It's not even a bright idea to do that, but I just pay it off automatically from my bank account. That's even a low balance.

Once you calculate your assets, less liabilities, you have your estimated net worth.

Make it Your Own

My coaching clients can make a copy of this document and make it their own. You can clear all the formatting and add dates with quarterly goals.

People don't talk about the importance of systematically tracking your net worth. So my goal is to have over $10 million net worth by the time I'm 50 years old. That doesn't include the value of my businesses; it's liquid net worth.

I want to eliminate all liabilities, that's my near-term goal.

If you are scared of what this looks like, you should confront it head on. You have to be real with this stuff even if it's negative. You must consciously make a decision to increase your net worth; it has to be a goal.

I have goals quarterly to save - to take money from my bank accounts and get it off the table.

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