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Net worth represents the total value of an individual’s or entity’s assets minus their liabilities. Assets can include tangible items like real estate, vehicles, and personal property, as well as financial holdings such as stocks, bonds, savings accounts, and intellectual property. Liabilities encompass debts like mortgages, loans, credit card balances, and other financial obligations. The calculation provides a snapshot of an individual’s financial health, indicating their overall wealth at a specific point in time. For …