Stephen Curry says he doesn't know his net worth—why that might be a good thing, financial pros say

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Golden State Warriors prima Stephen Curry has been the highest-paid NBA player for the past 8 years. Next season, he's acceptable to gain his biggest wage yet: $59.6 million, according to ESPN.

Curry besides earns an estimated $100 cardinal annually from endorsement deals with assorted companies, Forbes reports, including from his concern with Under Armour, wherever helium is president of the Curry Brand.

But erstwhile Curry was precocious asked to corroborate his existent nett worthy during an occurrence of the 360 With Speedy podcast with big Speedy Morman, the 37-year-old constituent defender said helium doesn't really know, and doesn't attraction to find out.

"[Net worth] is not thing I truly interest astir excessively much. I person idiosyncratic that takes attraction of that for me," Curry said.

Instead, "the thought of what I person going connected is astir creating a portfolio of worldly that is aspirational successful presumption of wealth," Curry said. "You privation to person thing you look backmost connected and are arrogant of, knowing we've been blessed with truthful galore opportunities and truthful galore resources and truthful galore relationships." 

Curry's absorption connected fiscal goals beyond his nett worthy is simply a "breath of caller air," says Ben Smith, a certified fiscal planner and laminitis of Cove Financial Planning successful Milwaukee, Wisconsin.

Too galore radical consciousness pressured to fixate connected gathering the highest nett worthy possible, Smith says, and it's refreshing that Curry prioritizes "pursuing what he's large at" and making investments he's arrogant of on the way. That strategy volition service him amended semipermanent due to the fact that it volition support "the engine" of his fiscal wellness going for longer.

Curry's presumption is undeniably unique. As a high-earning athlete, helium tin spend to delegate his wealth absorption to professionals without worrying astir his fiscal instauration eroding anytime soon.

Still, you don't request to gain millions to payment from mounting fiscal goals that don't revolve astir your nett worth, Smith says. In fact, obsessing implicit that fig whitethorn clasp you backmost from achieving fiscal milestones that mightiness consciousness much rewarding, similar yet taking a long-awaited household abrogation oregon paying disconnected your car indebtedness early, helium adds.

Here's what truly deserves your attraction if you privation to consciousness successful power of your money, and, amended yet, larn however to negociate it well, according to fiscal pros.

Understanding currency flow

While nett worthy tin beryllium "a utile barometer" for knowing your finances, currency travel is simply a overmuch much almighty indicator of your wide fiscal health, Smith says.

Rather than perpetually poring implicit your assets and liabilities, absorption connected what you tin way day-to-day: however overmuch you're earning, however overmuch you're spending connected fixed expenses and discretionary purchases and what's near over. That basal consciousness of what's coming successful and going retired volition alteration you to signifier a fiscal program that's much action-oriented than conscionable trying to accumulate wealth, Smith says.

Once you've got a grip connected your currency flow, you tin commencement targeting tangible idiosyncratic goals, similar building an exigency fund oregon paying disconnected pupil loans, helium says. Everyone should purpose to marque fiscal decisions that bring them pride, helium says, and those measurable accomplishments are usually easier to observe than hitting a nett worthy goal.

Those who absorption excessively overmuch connected their wide wealthiness often consciousness similar they ne'er person enough, Joy Slabaugh, a certified fiscal planner, licensed therapist and laminitis of Wealth Alignment Institute, previously told CNBC Make It.

No substance however ample a client's nett worthy really is, the desired magnitude is astir ever the same, she says: "a small much than what they really have."

Instead of focusing connected nett worthy alone, Slabaugh encourages her clients to bespeak connected however their fiscal decisions align with their personal values and semipermanent vision.

"[Net worthy is] conscionable 1 metric — and often a misleading one. I've seen clients fixated connected their nett worthy portion wholly disconnected from their fiscal reality," Slabaugh said. "Tracking nett worthy without tracking values oregon manner intentions is similar watching your pulse without knowing if your bosom is healthy."

Once you commencement utilizing your wealth intentionally, covering indispensable expenses, savings, investments and adjacent immoderate joy, you've already won fractional the battle, she said. The remainder is astir making definite your wealth supports a beingness you really privation to live, and you aren't simply striving toward a fiscal people that you volition lone summation with time.

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