Visualizing your net worth — and how it compares to others
|
Posted By: How May I Help You NC on December 13, 2017 As you all know, I’m fond of financial scorecards. While admitting their limitations, I like numbers and tools that allow you to compare your financial progress with other people. I like credit scores, for instance, because they put a number on how you handle money — a number you can compare to Americans at large. And I like apps like Credit Sesame, which let you to monitor your credit score — much like a bathroom scale lets you monitor your weight. Perhaps my favorite number is net worth, the total value of everything you own. Calculating net worth is easy. It’s what you own minus what you owe. That’s it. Simple, right? Simple but powerful. Net worth tracks your financial health in the same way that weight measures your fitness. Neither number tells the whole story, but as a measure of change over time each is a handy tool. Want to calculate your own net worth? I’ve created this free net worth spreadsheet in Google Docs for you to download or copy. It’s still branded with Money Boss, but I’ll change that soon. Net worth is a great way to track your own financial progress as you age. But have you ever wished you could compare your net worth with the net worth of other Americans? I have. It’s possible, but it’s a complicated process that required digging through tables of government data. Well, Zach at Four Pillar Freedom — who must have too much free time — recently took info from the Federal Reserve’s 2016 Survey of Consumer Finances and created a couple of tools that let you visualize the net worth of Americans by age. These tools aren’t sophisticated. They perform simple tasks, but they perform them well. Here, for instance, is Zach’s tool for looking at net worth percentiles by age. Net worth percentiles My net worth of approximately $1.6 million puts me between the 95th and 96th percentile of Americans aged 45-49. Zach also whipped up a quick chart to show the number of people who have positive net worths versus those with negative net worths. Plus he has a quick tool that compares the median net worth for each age group to the net worth of the top 1% in each population. If you too are a money nerd who likes to compare yourself to others, then take a few minutes to explore Zach’s net worth visualizer! http://www.fourpillarfreedom.com/visualizi... http://www.getrichslowly.org/ If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
 |
How May I Help You NC
Management, See Moss Interactive Bellarmine University class of 2021 Member Since January 2011 |
Comments
More From This Author
Latest Graduate School Info
 |
Graduate Student Fellowship Opportunity!We, at www.stemuscenter.org, just completed our first two informational sessions on Research Fellowship opportunity for STEM and Social Science doctoral students.
The mission of our center is to te ...more
Manisha Maurya • 1,364 Views • October 23rd, 2024 |
 |
4 Habits for Success in Online SchoolOnline education has become an increasingly popular option for students over the years, especially due to the current global pandemic. However, succeeding in online school takes more than just a good ...more
Anica Oaks • 1,667 Views • February 1st, 2024 |
Popular Graduate School Info
 |
People Judge Your Intelligence Based on the Tone of Your Voice and How Fast You Speak
Do you want people to think you are intelligent? Has someone ever told you “You’re much smarter than you look.”?
No doubt it can sting to be perceived as less intelligent, particularly when you ...more
How May I Help You NC • 30,516 Views • June 12th, 2017 |
 |
How to Improve Your Reading Comprehension If youd like to improve your reading comprehension, try the SQ3R method. This is an acronym that means: Survey, Question, Read, Recite and Review.
Heres how it works:
Survey Your Text
Prior t ...more
How May I Help You NC • 24,071 Views • June 12th, 2017 |
 |
Never procrastinate and always free time…..One blog I read regularly is by Leo Babauta, called zen habits. Essentially, he writes all about simplifying your life. A while ago, Scott Young was a guest blogger for Babuata’s website and wrote a p ...more
How May I Help You NC • 13,810 Views • April 19th, 2018 |
 |
MVSU to host Graduate Expo March 1Why should you consider an advanced degree? How will you finance your graduate education? What program of study is the best fit for you?
For the answer to these questions and many more, attend Mis ...more
How May I Help You NC • 12,720 Views • February 27th, 2018 |
 |
How Academic Parents Can Find Time to ExerciseA question that often comes up when I do campus workshops on work/life balance is how and when busy academic parents can find time to exercise. As we get older, it becomes increasingly important for u ...more
How May I Help You NC • 12,393 Views • April 19th, 2018 |
