What Should Your Net Worth Be?

What Should Your Net Worth Be?


One of the fun parts of being a financial planner is getting to
discuss some of the money moves we’ve made in our household
knowing clients and readers are going through similar things. In
these Work Your Wealth episodes I'll be taking time to address
how we approached the different money situations and the results
of our decisions. Today I'm talking about how to track your net
worth and some tools and tips to move the needle for your net
worth in the right direction. 


HERE’S WHAT YOU’LL LEARN FROM THIS EPISODE:


One of the most common questions I get about finances

The best way to do a health check of your finances

How often you should be checking on your net worth

The thing your net worth can tell you over the years

The place to start when calculating your net worth

Assets and liabilities that you should factor in to your net
worth

Why you shouldn’t compare your net worth with other friends,
family, etc.

The average net worth for Americans in their mid 30s

A big reason the average net worth for a 35 year old is where
it is

Another way to evaluate your financial health (especially if
you are in your 30s)

The amount of savings you should have when you reach age 30

What your net worth should look like at age 40

A quick equation to analyze your ideal net worth

Understanding how much you need set aside for retirement

Things that negatively impact your net worth and how to
improve on it

If you haven’t started investing, here’s where to start

A few resources to help you get started towards savings

A few budget savings allocations that can help improve your
net worth

Two methods to paying off your debt

How we keep track of savings goals in our household

If you want to go big on growing your net worth, here are a
few tips



LINKS WE MENTIONED ON THE SHOW


Listen Money Matters

Financial Samurai

You Need A Budget Website

Mint

Abacus Wealth Partners

Mary Beth



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