Understanding net worth and why it's important

According to the Federal Reserve's Survey of Consumer Finances, the median family net worth in the United States is $192,000. But what exactly is net worth, and why does it play such a crucial role in understanding financial health?
Yahoo Finance reporter Molly Moorhead breaks down the concept, its implications, and how to calculate it.
#news #youtube #networth

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[ShawnWagner-shfi]

Currently, things appear to be odd. Inflation is reducing the value of the US dollar, but it is strengthening in comparison to other currencies and commodities like real estate and gold. People are switching to the dollar because they believe it is safer. I worry that the rising cost of living may cause the value of my retirement savings to decline. We could put our cash right now.

[DSLightning]

Understanding net worth is important, because most folks worry more about how much they MAKE rather than how much they KEEP. 😉

[sch]

“Talk to your financial advisor to help calculate your net worth.” Ha! I have talked to three different licensed advisors and the speech they gave me was, “bring me all your money and I’ll take care to the rest.”

[ReginaJune]

0:21 it’s a wonderful tool when considering life insurance limits, prenuptial agreements, retirement and Estate Planning!

[chkee]

Establish a routine to monitor your personal net worth

[Mta]

Time is a valuable thing, watch it fly by as the pendulum swings.🎵

[terrie]

Comment flood with bots commenting about nvdia and something random. Lol.

[kyungshim]

Should pension be part of assets when calculating net worth? What about life insurance benefits?

[mxweng]

Thanks to Nvidia, my net worth is currently 2X the median for now.

[cheezybred]

Yeah, but most fams have this in home equity. It’s not liquid that they can access.

[tjoybungisngis]

Ya i know my favorite subject is math..

[matt.stevick]

My net worth is filthy rich due to nVidia 💚🖤💰

[Seanpfree]

That number is no where near correct for 95% of us.

[MichaelHalsell]

Net worth in 2024. Are we having fun boys and girls?

[Seanpfree]

I am 💯 convinced these people have NO IDEA what's going on outside of their wealthy bubble. They'll figure it out with the coming social unrest.

[chrisphilips]

I believe the average net worth of Americans as well over 200 K. Over 40% of homes in the US are mortgage free. People are receiving large inheritances, and the economy is booming

[AKAAAK]

"Hopefully" your salary increases 🤣. We all know incomes have not kept up with costs/inflation for more than 30+ years

[deemiller]

Your home is not an asset. It cost money in taxes, insurance, and upkeep. Even if paid off. I think it should not be counted in your net worth.

[FrankGallagherr]

Whose life was better 4 years ago under Trump’s

[masquereseau]

Without a net worth, you become a nobody once you lose your job. Think about it.