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The term “net worth” refers to the total value of an individual’s or company’s assets minus their liabilities. It provides a comprehensive snapshot of an entity’s financial health at a specific point in time, indicating what they own after all debts are accounted for. Assets can include real estate, investments, cash, and other valuable possessions, while liabilities encompass mortgages, loans, credit card debt, and other financial obligations. Calculating this figure is a fundamental practice in …