How a Couple in Their 40s Worth $1 Million Could Still Be Broke, According to Self-Made Millionaire Money Experts

Oct. 5, 2024 - New Trader U

A couple might boast a million-dollar net worth, but this figure often includes non-liquid assets like home equity, retirement accounts, and other investments. This scenario illustrates how net worth alone doesn’t paint a complete picture of financial well-being.

A lack of a structured approach to finances can lead to impulsive decisions and missed opportunities, regardless of net worth. However, it can also tie up a significant portion of net worth in an illiquid asset.

With careful planning and financial management, bridging the gap can bridge high net worth, and proper financial stability is possible...