How Do I Calculate My Net Worth?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Business, Investing

4.6 • 3.6K Ratings

🗓️ 3 August 2022

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, and George Kamel.

Transcript

Click on a timestamp to play from that location

0:00.0	You're listening to Ramsey everyday millionaires, where we talk retirement, building wealth,
0:10.5	and outrageous generosity.
0:14.1	Nancy's in Orlando to start off this hour.
0:16.1	Hi Nancy, how are you?
0:17.2	Hey there Dave and George fine, thank you and thank you my call.
0:21.3	Sure, what's up?
0:22.3	My husband and I are in baby steps seven and we want to set the goal of being baby step
0:28.1	millionaires, but I don't know how to establish our current net worth.
0:32.9	We primarily off of his post office pension, but since it's not a liquid lump sum I'm
0:38.8	guessing we can't include it.
0:41.1	I can't determine a per month investment goal because the RIQ process doesn't include
0:47.0	the pension or our paid for home.
0:49.1	I don't know where to start.
0:51.1	Very cool.
0:52.6	Well you're right, technically speaking a pension is not part of your net worth because
0:57.1	you can't sell it or you can't cash it out and use it.
1:00.4	It's just a stream of income that's promised to you.
1:03.4	In other words social security is not part of my net worth, but I'll be getting social
1:07.0	security some day.
1:08.8	It's the same thing because net worth is assets minus liabilities.
1:14.8	That's not really your issue.
1:17.2	It's fun for you to keep up with your net worth and when you have a baby steps when
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.