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Reply to "What is net worth and why does it matter?"
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[quote=Anonymous]Agree with 15:21. When you are young-ish, it doesn't matter (or it matters to the extent you minimize how negative your NW is ... i.e. minimize your debts). But, when you get to the point that you have kids and can see retirement in the distant horizon, you need to know your net worth and work toward growing it. The goal is to have 12 times your final salary saved by the time you retire. Not everyone can make it there. Some people don't need to get to 12x if they have really high salaries now. But, if you have a pretty normal income (between $50K-200K), you should be working toward saving and investing so that it grows to 12 times your final income. knowing your NW allows you to measure where you are. (although you should not be counting your home in your calculations --- so technically, NW minus home value).[/quote]
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