Calculate Your Net Worth | How Does It Compare?

Calculating your net worth is the first step to understanding your financial situation. In this video, we'll show you how to calculate your net worth and compare it to others in your age group.

Timecodes:

0:00 - Intro
0:39 - What Is Net Worth?
1:59 - How To Calculate Net Worth?
4:30 - So, How Do We Compare?
6:28 - How Do We Increase Our Net Worth?

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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.

[matthewkearney]

Thanks for the video! Really good content but there is an error. Paying off debt doesn’t “immediately increase your net worth.” Net worth doesn’t change when you pay off debt but it can help over time depending on the interest rate:)

[msheehandub]

Compounding is fantastic ONCE you have enough money in the bank. Unfortunately, similar to your penny analogy, most of the time you see very little returns (most of your life) It's not until the last 2 weeks (or towards the end of your life) you see some serious gains and by then you're already old and grey with arthritis and a bad shoulder.

[kylen]

Paying down debt doesn’t immediately increase net worth, as you are using cash, an asset, to lower debt. It can help with lowering interest payments and allow you to eventually save more of your income though.

[sarav]

Need a video on calculating Savings Rate

[xmochix]

A lot of people are asset rich cash poor. You need a good balance.

[MrTripleAgamer]

No take the one million then invest it well lol