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Net worth represents an individual’s or entity’s total assets minus their total liabilities. It serves as a fundamental indicator of financial health and solvency, reflecting the overall value accumulated over time. For living individuals, it includes tangible assets like real estate, vehicles, and investments, as well as intangible assets such as intellectual property, offset by debts like mortgages, loans, and credit card balances. Calculating this figure provides a clear snapshot of an economic position, crucial …