If you want to build wealth, the first thing you need to do is what I call ‘get your mind right’. Stop thinking about your next paycheck or your 401K balance and figure out your Net Worth. Simply put, Net Worth is your assets minus liabilities. If you want to become financially independent and grow your wealth, the first thing you should do is figure out your Net Worth! I’m not going to reinvent the wheel, there are lot of helpful articles on how to do this:
My favorite tool to calculate and monitor your net worth in real time is Personal Capital. You simply connect your accounts (like Mint), and then anytime you log in online or on your phone app, it will give you your real-time net worth.