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Moreover, knowing one’s net worth helps with retirement planning. A negative or low positive number means there’s work to do before retiring comfortably becomes feasible – either by increasing income (and therefore savings), reducing expenses so less income will be needed during retirement years; paying off debts faster which frees up more money for saving/investing; investing wisely so that returns increase overall wealth faster than inflation erodes purchasing power stoegerpublishing.com etcetera.
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