How To Calculate Your Net Worth - Dave Ramsey Rant

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How To Calculate Your Net Worth - Dave Ramsey Rant

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I always use to think your net worth was what someone would pay for you if you were kidnapped 😂😂

hawkthatdown

Just hit $4.2M mark today in my 40's. It's just a number.. I'm going to cook now.

joekkl

Started my debt free journey at $82, 145 in June 2020, currently at $76, 250!

inea-fijourney

‘If you can make being a millionaire as your first financial goal’ I love dave’s sky’s the limit attitude. It’s refreshing, mostly it’s you can’t or it’s not possible, or I can’t do it. Your motivating, not pessimistic. That’s why you, and business deserve success.

AimHigherWindowCleaning

What you own minus what you owe. Once you tackle the latter part, you need to work on building up your assets!

MichaelJayValueInvesting

Buying a lot of house technically could increase your net worth, but the difficulty of liquidating takes away from the benefit.

NotShowingOff

I want my net worth to be 1 million 😅

Which is why I’m building more assets and getting rid of all my liabilities

InvestingHustler

I've always debated whether I should include my house and 401k when calculating net worth. Dave has given me an answer here. I still wonder what "my portfolio" means. For instance, when someone says to limit something to 5% of my portfolio. Is this the total of all my investments? Am I including/excluding my 401k, IRA, Bonds, Cash? I guess that one is for another day.

richard

I mean, your business is in your net worth if you OWN it.

emilyodermatt

CAN SOMEONE PLEASE HELP ME WITH THIS. Iv been asking this question for a long time and never get a str8 answer. So I joined the military in 2004 and will retire in 2024. I fall under the old school retirement system where as soon as I retire in 2024 at age 39, , ill immediately begin to collect about $3k/month for the rest of my life. If I die my wife will still collect that until she dies. If I do the math, the longer I live the more I collect. If I live to be 78 (average American male) that would be $1.4million collected. Not to mention all the medical benefits. How do you calculate something like that into a net worth???? Thanks!

andyhwell

Dave I have a 401k at job which is matched . I was wondering how do I find out inf. On each company to pick from??? That will give better return? ?

JorgiaDable

So, at 55 ... I currently make $90, 000.00 a year after taxes in retirement, the only debt I have is the mortgage $111, 800.00 this month .... How do I become a millionaire, or would I already be considered a millionaire?

steve

Math tells me that if I'm in debt, my net worth should be negative - if it were positive I'd not owe money. In other words, if I owe $50K on a house and OWN a $55K car - I need a $5K car. I have a negative net worth and it will continue as such until I'm debt free, I'm not buying stuff I don't need.

Scorpiomaj

I don't understand all the people out there, including some financial advisors, that don't include assets in their net worth calc because of various reasons. If it is something that is worth money and you can theoretically sell it then it is an asset. Dave said it quite clearly. So, your home is an asset. So is your 401K and all of your cars. I could sell my house tomorrow and go rent somewhere. I would have a bunch of cash from the sale. How it my home not an asset then? I just don't see what purpose it serves to leave items off your net worth statement.

delt