Editing Net worth (section)

===Individuals===
For individuals, net worth or wealth refers to an individual's net economic position: the value of the individual's assets minus liabilities. Examples of assets that an individual would factor into their net worth are retirement accounts, other investments, home(s), and vehicles. Liabilities include both secured debt (such as a home mortgage) and unsecured debt (such as consumer debt or personal loans). Typically intangible assets such as educational degrees are not factored into net worth, even though such assets positively contribute to one's overall financial position.

For a deceased individual, net worth can be used for the value of their [[Estate (law)|estate]] when in [[probate]].

Individuals with considerable net worth are described in the financial services industry as [[high-net-worth individual]]s and [[ultra high-net-worth individual]]s.<ref name="HuttonTimes5nov2006">{{cite news|url=http://www.thesundaytimes.co.uk/sto/business/article40905.ece|archive-url=https://web.archive.org/web/20140222152116/http://www.thesundaytimes.co.uk/sto/business/article40905.ece|url-status=dead|archive-date=February 22, 2014|title=Rich spurn ultra-luxury cars|publisher=The Sunday Times|location=UK|date=5 November 2006|author=Ray Hutton|access-date=10 September 2013}}</ref>

In [[personal finance]], knowing an individual's net worth can be important to understand their current financial standing and give a reference point for measuring future financial progress.<ref name=":0">{{Cite web|url=https://www.schwabmoneywise.com/public/moneywise/essentials/personal_net_worth|title=Your Personal Net Worth|date=2020|website=schwabmoneywise.com|access-date=10 April 2020}}</ref>