The Net Worth Goal works differently from other goals in that it tracks progress towards a target Net Worth amount.
It uses Net Worth which includes:
- + Property
- + Liquid assets
- - Debts
See the Net Worth value in each year of the plan by viewing the Net Worth chart.
Some things to note:
- Net Worth doesn't include assets held in Trust (these are shown in Plan Worth chart and not Net Worth)
- If a joint plan and the partner is a non-legal partner the partner's solely owned assets do not appear in Net Worth (jointly owned assets are included). If a legal partner or spouse all assets are included regardless of ownership.
To use the Net Worth Goal go to the Dashboard + button bottom right and select Goals - Net Worth Goal.
Put in a Net Worth amount for the goal and select an Event on the Timeline.
In Dashboard and Timeline and also in the Financial Summary and Events & Goals reports you can track progress towards this goal and whether it is being met by the plan currently.
Go to a What If scenario to see if the goal is met after changes to the plan, for example contributing more to savings.
You may see a number greater than 100% which means the Net Worth goal is exceeded by that amount.
FAQ - Net worth does not show non legal spouse assets
FAQ - The Net Worth chart is not showing the full value of my clients' assets. Why?