Asset

Assets just refer to stuff you own that's worth something. You might have a lot of love, but, as the Beatles say, that can't be bought. Financial types are more interested in the value of your home, your retirement fund, your stocks, and anything you can sell to make a buck.

Tally up all the stuff you can sell, subtract your debts, and that's where your net worth. We hope it's as impressive as Marilyn.

Example: An orthodontist is married to a school teacher in Peoria, IL. Their assets consist of $253,432 in a Schwab One brokerage account, a home valued at $643,000 with a $300,000 mortgage (their equity in the home is $343,000), $20,000 in a B of A account, and $92,302 in a teacher's retirement pension account. Oh, and $12,000 worth of crap in their garage that really should be sold on eBay. Those are all assets.