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Managing your investments has never been easier!
Do you know your net worth? It's a crucial aspect of financial planning that equals the sum of all your assets (that you own) minus all your liabilities (that you owe). You can't improve what you don't track, especially when it comes to wealth accumulation.
Net Worth is equal to the sum of all your assets (that you own) minus all your liabilities (that you owe).
On the asset side, you might have some of the following investments and exposures in your portfolio:
On the liabilities side of your portfolio, you might have various forms of debt:
Effectively maximize savings and investments through the power of compound interest. This can significantly boost your wealth accumulation over time, especially when you consistently invest in a diversified portfolio of stocks, bonds, and other assets.
You can't improve what you don't track. As with other goals, achieving financial freedom requires:
This is where effective financial planning comes into play.
You can add your historical net worth and savings progression to see the chart with your true portfolio performance historically (excluding the effect of savings). This can be compared to market benchmarks (e.g., S&P), allowing you to assess how well your investments are performing compared to standard market indices.
Build a simple forecast to understand what target portfolio returns and regular savings are required to achieve your financial goals. This can help you:
Financial freedom is accessible to everyone. To get started:
Whether you're focusing on paying off student loans, building your retirement accounts, or growing your investment portfolio, having a clear picture of your net worth is the first step towards achieving your financial dreams.
The 8FIGURES app enables you to track your net worth towards your financial goals. Once you link your accounts and add all other assets and liabilities into the app, your net worth will update automatically each time there are price/value movements in your portfolio. This includes changes in:
Managing your investments has never been easier!