Net worth is your single best measure of financial position: total assets minus total debts. Tracked over time, it reveals whether you’re actually getting wealthier or just cycling money.
Liquid net worth
Liquid net worth excludes illiquid assets (primary home, registered accounts you can’t touch without penalty) to show what you could access in a short timeframe. For most Canadians this is substantially lower than total net worth, and a more realistic emergency indicator.