A liability is something that you’re responsible for. In the case of net worth, we’re talking about … See more

Start with what you own: cash, retirement accounts, investment accounts, cars, real estate and anything else that you could sell for cash. Then subtract what you owe: credit card … See more

You might notice that items like your house or car are both assets and liabilities. That’s because larger purchases take a while to pay off. The part you own is an asset, but the part yo… See more