Notable on Net Worth from the New York Times

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline – a third less!

What is net worth? It is your personal or family’s balance sheet.  In other words  – everything you own (assets)  minus everything you owe (debts – credit card, student loans, mortgages).

What can you do to raise your net worth?  I manage my net worth a couple of ways, but I’ll keep it simple.  I look for ways to increase my income (revenues) and decrease how much I spend (expenses).  By having a surplus, I am able to save and invest, thereby increasing my net worth.

Why?  Its simple, money buys choices.

It’s great having choices, don’t you think?