Find your true financial position in 5 minutes. Add all your assets (home, retirement, savings) and debts (mortgage, loans, credit cards). Includes age benchmarks and tips.
Net worth is what you own (assets) minus what you owe (debts). Assets include your home equity, retirement accounts, investment accounts, savings, cars, and any other valuables. Debts include mortgage, student loans, credit card balances, car loans, and any other liabilities. It's a snapshot of your financial health at a point in time.
A common rule: net worth should equal your age × gross annual income ÷ 10 by mid-career. Examples: Age 30 = $30K (if earning $100K), Age 40 = $200K, Age 50 = $500K, Age 60 = $1M+ (for top earners). The median US household net worth is $192K, but this includes home equity.
Calculate it monthly or quarterly. Monthly is best for tracking progress and staying motivated. The first time you calculate it will be a wake-up call. Within 6 months of tracking, you'll see a clear trend upward (if you're saving) or downward (if you're spending more than you earn).