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The term “net worth” refers to the value of all assets, both tangible and intangible, owned by an individual or entity, minus the total of all liabilities. It serves as a comprehensive indicator of financial health and accumulated wealth at a specific point in time. Assets can include real estate, investments, cash, intellectual property, and personal belongings, while liabilities encompass debts such as mortgages, loans, and other financial obligations. Calculating net worth provides a clear …