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Tracking your net worth can show your progress towards financial independence from "summary" of Playing with FIRE (Financial Independence Retire Early) by Scott Rieckens
By tracking your net worth, you can gain a clear understanding of where you stand financially. This simple act of calculating your assets and liabilities can provide valuable insights into your overall financial health. Net worth is essentially a snapshot of your current financial situation, revealing how much you own versus how much you owe. It serves as a measuring stick for your progress towards achieving financial independence. As you track your net worth over time, you can see whether you are moving in the right direction. By consistently monitoring your assets and liabilities, you can identify trends and make informed decisions about your financial goals. Seeing your net worth increase can be a source of motivation and encouragement on your journey towards financial independence. Moreover...
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