034 | What is YOUR Net Worth & Why is it Important?

Save Like Dave Podcast

1984 was the year Dave first began to keep track of his finances with the help of a Net Worth Statement.

Every year since, Dave takes an hour or so on the first week in January and determines that number.

Now 35+ years later he has a simple 1-page record of what his net worth is. That first year it was just $50K.

In this episode, Dave is going to explain what a Net Worth Statement is and why it’s helpful to do it annually. He outlines a simple process so that you can complete it in (likely) less than an hour's time.

We really recommend you do this as it gives you a quick visual of where you are financially… and frankly it’s very encouraging to see your year-to-year growth!

Listen in to this week's episode as you will discover why completing a net worth statement is important and how you too can succeed at it with very little effort on your part.

Questions for Review:

• Do you know what your net worth is?
• Do you now feel comfortable with calculating your net worth statement?
• Add a 1-hour timeslot to your calendar, sometime this year, to calculate your net worth statement.

Verse of the Episode: "My Wealth Has Come From A Combination Of living in America, some lucky genes, and COMPOUND INTEREST." -Warren Buffett