What is your net worth?
Include:
Cash, savings, checking accounts
Investment accounts (including trusts for which you are sole beneficiary with the ability to spend principal)
Real estate (only the part that you own free and clear of mortgage)
Business (value you could sell it for – hard to estimate but take a shot at it)
Hard assets, such as jewelry, precious metals, art, etc. – what Antiques Roadshow would call “auction value,” not insurance value.
Subtract debts such as student, mortgage, credit card or other debt.
For reference…
Every three years, the Federal Reserve Board issues the Survey of Consumer Finances to share information about family net worth and income in the U.S.
The most recent report released in September 2020 (using data collected in 2019) shows the median U.S. household net worth is $121,700 — but it’s more than double that for people ages 65 to 74.
According to the Fed data, the median net worth for Americans in their late 60s and early 70s is $266,400.
https://www.federalreserve.gov/scf/scf.htm
Wendy
- < $0
- $0 - $100,000
- $100,000 - $1,000,000
- $1,000,000 - $10,000,000
-
$10,000,000