as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the term "net worth" as it relates to finances.
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net worth is a term that describes an individual's financial health and refers to the value of their assets minus their liabilities. it is an important factor in assessing one's financial stability and can be used to measure financial progress over time. assets include income, savings, investments, and real estate, while liabilities would include debt, loans, and other financial obligations.
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