What is net worth?
Your net worth is simply the value of everything you own minus the cost of what you owe.
[Things you own] - [Things you owe] = Net worth
Why is net worth important?
Net worth is a great way to gauge your financial health. In personal finance, things can become messy or confusing. Maybe you owe a couple of small loans or have some savings accounts from when you were a kid. Adding these up can be very helpful in reducing lots of this confusion.
To help you with this, check out the free “Net Worth” tool in the tool section of the website in my bio. It will make this important task even simpler. After that, swipe to the next slide and see how your net worth stacks up against the averages in the country.
If your net worth is negative... FEAR NOT! Mine was too and with intentional planning and execution it will quickly rise
Where do you stack ?
Age | Median Net Worth |
20 | $7,808 |
21 | $11,712 |
22 | $15,616 |
23 | $19,520 |
24 | $23,423 |
25 | $27,328 |
26 | $31,232 |
27 | $35,136 |
28 | $39,040 |
29 | $47,062 |
Age | Median Net Worth |
30 | $55,083 |
31 | $63,105 |
32 | $71,127 |
33 | $79,148 |
34 | $87,170 |
35 | $95,192 |
36 | $103,123 |
37 | $111,235 |
38 | $119,257 |
39 | $127,278 |
(Source:https://moneyguy.com/article/net-worth-by-age/ ;per Survey of Consumer Finances 2022)
Check out the "Net Worth" Tool on this website!
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