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An individual’s net worth represents the total value of all their assets minus their total liabilities. Assets can include tangible items such as real estate, vehicles, and investments like stocks and bonds, as well as intangible assets such as intellectual property or business equity. Conversely, liabilities encompass all financial obligations, including mortgages, loans, and credit card debt. Calculating net worth provides a comprehensive snapshot of a person’s financial health at a specific point in time, …