Asset net worth
Asset net worth means current value of the assets minus what is owed on those assets.
- money in cash, savings, and checking accounts;
- investment farms; and
- other investments, such as real estate (other than the home in which you live), Uniform Gifts to Minors Act (UGMA) and Uniform Transfer to Minors Act (UTMA) accounts for which you are the owner, stocks, bonds, certificates of deposit, etc.
Assets don't include
- the home in which you live;
- UGMA and UTMA accounts for which you are the custodian, but not the owner;
- the value of life insurance;
- ABLE accounts; and
- retirement plans (401[k] plans, pension funds, annuities, non-education IRAs, Keogh plans, etc.)
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