To calculate your net worth, first tally up the value of your assets. That includes your checking, savings, brokerage and retirement accounts. It also includes your home(s) and any art, antiques or other collectibles that you plan to sell at some point.
Realistically, unless you need to value your assets for insurance, estate or liquidation purposes, you probably shouldn't count the family jewels. "Forget about your jewelry," Kaye said. "You're not going to sell it. You're going to give it to your daughter."
Likewise, what's the point of counting the couch in your den, unless you really plan to sell it and nap standing up for the rest of your life?
Lastly, you can count money owed to you but not yet paid so long as there's a high probability of collection, Kaye said. Include loan receivables, bonuses or deferred compensation.
On the liability side, count all your debts – such as your mortgage, student loan, car loan or home equity loans; plus any balances on credit cards or lines of credit.
-cnn