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Net worth is the value of all the non-financial and financial assets owned by an individual or institution minus the value of all its outstanding liabilities. [ 1] Financial assets minus outstanding liabilities equal net financial assets, so net worth can be expressed as the sum of non-financial assets and net financial assets.
A net (sometimes written nett) value is the resultant amount after accounting for the sum or difference of two or more variables. In economics, it is frequently used to imply the remaining value after accounting for a specific, commonly understood deduction. In these cases it is contrasted with the term gross, which refers to the pre-deduction ...
A person possessing a substantial net worth is known as wealthy. Net worth is defined as the current value of one's assets less liabilities (excluding the principal in trust accounts). [2] At the most general level, economists may define wealth as "the total of anything of value" that captures both the subjective nature of the idea and the idea ...
Alamy April is Financial Literacy Month, and our goal is to help you raise your money IQ. In this series, we'll tackle key economic concepts -- ones that affect your everyday finances and ...
A millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency. Depending on the currency, a certain level of prestige is associated with being a millionaire. [ 2] Many national currencies have, or have had at various times, a low unit value, in many cases due to past inflation.
As you assess your short- and long-term financial goals, it may be helpful to compare the value of your assets to that of your liabilities. That's where net worth comes in; this value can ...
Before: $14 million. After: $20 million. The Johnson family’s net worth was $14 million thanks to land, radio, and TV holdings, the New York Times reported in 1964. When President Lyndon Johnson ...
Jobsworth. A jobsworth is a person who uses the (typically small) authority of their job in a deliberately uncooperative way, or who seemingly delights in acting in an obstructive or unhelpful manner. It characterises one who upholds petty rules even at the expense of effectiveness or efficiency. Related concepts include malicious compliance ...