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Net worth represents the total value of an individual’s or entity’s assets minus their liabilities. It provides a comprehensive snapshot of financial health, indicating what would remain if all assets were converted to cash and all debts were paid off. Assets can include tangible items such as real estate, vehicles, and investments like stocks, bonds, and retirement accounts, as well as intangible assets such as intellectual property or brand value. Conversely, liabilities encompass all debts, …