---
title: How to Prepare a Net Worth Statement for HNWI
description: Many of our clients turn to Plumb Bill Pay because they have a complicated financial life and need help preparing their net worth statement.
---

[Plumb Family Office Accounting & Bill Pay Blog ](https://blog.plumbbillpay.com)

# [How to Prepare a Net Worth Statement for HNWI](https://blog.plumbbillpay.com/net-worth-statement)

 Written by [Anneke Stender](https://blog.plumbbillpay.com/author/anneke-stender) | Jul 28, 2021 7:00:00 AM

# How to Prepare a Net Worth Statement and Track Your Wealth

 Posted on July 28, 2021 at 9:08 am.

Written by [Anneke Stender](https://www.plumbbillpay.com/author/anneke-stender/)

## Track your Wealth with a Personal Net Worth Statement

Many of our clients turn to [Plumb Bill Pay](https://www.plumbbillpay.com/) because they have a complicated financial life and need help preparing their net worth statement. By having a clear picture of their wealth, including assets and liabilities, they can make better decisions with their investments and long-term financial goals.

### What is a Net Worth Statement?

**Net Worth = Assets – ****Liabilities**

Let’s start with the basics.  A net worth statement is a personal balance sheet.  It lists your assets and liabilities.  Assets are items listed that have cash value (or can be converted to cash).  These assets typically include any money that is in your bank account, retirement account, investment accounts, and major items such as real estate or automobiles and other valuable property.  Liabilities are the debts or expenses that you owe. These include: bills, loans, mortgages, etc.

**Need help with bill pay?** [Top 5 signs that you should hire a personal bill payer](http://www.teamtag.net/2018/09/13/personal-bill-payer/)

### How to Prepare a Net Worth Statement

There is technology available to help you track your net worth, or you can start with a simple spreadsheet.  For people who have a high net worth, it is beneficial for them to use a professional accounting firm to help them track their income and expenses.  To calculate your net worth, you subtract your liabilities from your assets.

### Need help with your personal accounting to better track your wealth?

With great wealth comes great responsibility. There is complexity that comes with wealth, including high volumes of bills and income and expenses to track. Setting up a net worth statement or bill pay schedule with the appropriate checks and balances is not an easy task.

At Plumb, we offer personal [CFO and bill pay services](https://www.plumbbillpay.com/outsource-bill-pay-experts/who-we-serve/) to ensure that our client’s finances are efficiently tracked and bills are paid, so they can focus their time on enjoying life and have financial peace of mind.

Article: [A Corporate Approach to High-Net-Worth Individuals ](https://www.pymnts.com/news/b2b-payments/2019/tag-high-net-worth-individuals-financial-management/)

### Back-Office Accounting Services for High-Net-Worth include:

For more information on Plumb Family Office Accounting – or to receive a quote for bill pay and reporting services:

Tags: [Bill Pay](https://www.plumbbillpay.com/tag/bill-pay/), [bill pay services](https://www.plumbbillpay.com/tag/bill-pay-services/), [Family Bill Pay](https://www.plumbbillpay.com/tag/family-bill-pay/), [high-net-worth](https://www.plumbbillpay.com/tag/high-net-worth/), [HNWI](https://www.plumbbillpay.com/tag/hnwi/), [Plumb Bill Pay](https://www.plumbbillpay.com/tag/tag-bill-pay/)

[View full post](https://blog.plumbbillpay.com/net-worth-statement)

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