1) Figure out your net worth.
Before you start growing your wealth, it’s important to first understand exactly what you already have
“Most people have never visually seen their net worth on paper, and it’s usually an eye-opening exercise,” says Michael Pappis, financial planner.
Net worth is the combined value of your assets minus the value of your liabilities. To calculate this, simply add up your home’s value, any investments, bank account balances, and other remaining assets. Then, subtract any loans or debt you might have. Once you know your net worth, you can properly plan for what’s next.