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Show What " ) I MB 1 u : 1 ADVERTISEMENT Ipeaking OF MONEY iWHAT'S YOUR NET iWORTH? By Ezra T. Clark efPresident of Davis County Bank One of the pleasant surprises in life is to PSscover that you're richer than you ink. Most people, I believe, have never jured their net worth because they nt know how.. .even roughly. Yet it's iportant to know where you stand financially finan-cially and you ought to do it at least once a ar. So I'm going to tell you exactly how. j First, take a blank ece of paper and aw a line down the , P ).,... mmm'"-m ige vertically i rough the center. 1 j Jjiow begin to tally i ur assets on the left - , 'jie of the paper. List - j e amount of all the s sh you now have on ind-savings and jiecking accounts. . Ji ti id the cash value of I - I J ur life insurance. jLJ fc f I uh value means the I EZRA T.CLARK Vaount you could ac-ally ac-ally borrow against e policy right now. Add the market value of any stocks or nds you have-the price you could get r them today. Do the 6ame with rtificates of deposit and government curities-not the maturity value, but the ! T'esent value. X' I Next, in the same asset column, list any 1 aounts you have invested in pension 9 l.ans or retirement programs. Add the m you'd get if you sold out your interest in-terest in any business partnership you're The final asset additions require alistic estimates. You may find them dif-cult dif-cult to make, but add the prices you jjjmld get for your house, lot, or any other (J, " al estate you own. You can get an -llfli1UJnate from a real estate broker. Add the market prices of any valuables you own, starting with your car, right down to your wristwatch or diamond ring. All household appliances, furniture, silver, rugs, and so forth should be included. in-cluded. Remember that they're used, so you must be conservative in your estimates. Put down not what you paid for them, but what you could get for them today. Checking the classified ads in your newspaper may help you estimate these values. Add up all of that. Now, on the right-hand side of the pa per, start the liability column-that's what you owe. Write down the amount owing on your house mortgage, your car, your furniture. Add the balance of ,any other personal loans or debts. Include taxes that have not been withheld from ! your income. Now total your debts. Finally, subtract your total liabilities from your total assets. The remaining figure is your net worth. What does that figure mean to you? Well, it instantly tells you your borrowing ability. It's something like a credit evaluation. It's an important yearly evaluation for your estate planning purposes. If you did the same thing last year and the figure is now larger, you know if you're getting anywhere financially. finan-cially. You know what you can afford to buy, or what you can't. 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