For instance, if you have a house valued at ₹50 lakh, savings of ₹10 lakh, and  outstanding loans of ₹5 lakh, your total wealth is calculated to be ₹55 lakh.

How to Understand : 

Wealth represents your comprehensive financial strength, extending beyond just the  liquid cash available in your bank account .

Importance :

It serves as an indicator of long-term financial security and stability.

Wealth enables you to pursue future goals, such as purchasing a home or preparing for  retirement.

It acts as a safeguard against emergencies, providing a financial cushion.

Accumulating wealth is crucial for establishing generational financial stability and  prosperity.