liquid assets, net worth, HUH?? need help filling out retirement fund papers?
I am filling in a questionare from my retirement fund company. asking my Liquid assets (does that include my car, house, etc), also asking my net worth..what does that include??? Thanks!
- 1 decade agoFavorite Answer
Liquid assets are assets that are cash or near cash. Near cash is something, for example a certificate of deposit, that can be converted into cash in a short period of time.
Net worth is assets less liabilities. Assets is what you have and liabilites is what you owe.
You can lose a lot of sleep over this type of project. Here are a couple of rules of thumbs that might make it go easier. Be conservative on the value of assets. For example, don't think you house is worth 2 times the last sale in your neighborhood. Conversely, be liberal on your liabilities. Include that $ 100 you borrowed from your no-good-cousin- you-are-still-mad-at 20 years ago. If spend a few hours thinking about it and applying my rules of thumbs, yourretirement fund will be happy.
- lizzgeorgeLv 41 decade ago
Liquid assets include cash and marketable securities (stocks and bonds that trade in the marketplace). Cars, houses, boats, jewelry, art and furniture are not liquid assets (but they are assets that can be listed on a net worth statement).
Your net worth is all of your assets minus all of your debts. Add up all your bank acounts and investments, your car and house and any significant furniture/jewlry/art (put current value not what you paid for them) and then subtract your credit card debt, mortgage, and any other loans or debts. That's your net worth--it is possible for net worth to be negative by the way.Source(s): banker
- Anonymous5 years ago
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- 1 decade ago