Net Worth Statement
Your Net Worth Statement lists your assets (what you own) and subtracts your liabilities (what you owe) and the difference is your net worth. Calculating your net worth is a provides you with an idea of your financial position at a point in time. Periodically updating your Net Worth Statement is a good way to track your financial progress over the years. Do not be alarmed if your net worth is negative by a fair amount early in your career. This is common, and most likely due to the sizable student loan balance many doctors have in training and the first few years afterwards.