What should be included as part of assets in calculating net worth? Should you include your house which you are staying in? - Seedly
 

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Asked by Anonymous

Asked on 30 Mar 2019

What should be included as part of assets in calculating net worth? Should you include your house which you are staying in?

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Grace Cong
Grace Cong
Level 5. Genius
Answered on 06 Jun 2019

Net worth = assets - liabilities. The house is an asset, the mortgage (if any) is a liability. Both should form part of your net worth calculation.

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All Assets minus Liability.

Cash, CPF, Investments, Residence, Car - Loans, Debts, Mortgage.

So yes, this would include your residence. But as you can see, it'll reflect the paid up amounts only.

Here's a recent Seedly article for you: https://blog.seedly.sg/net-worth-singaporeans-most-important-number-in-personal-finance/

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