Net worth-how do you stack up?

Based on your age and income there is a national median for net worth. In other words if you are age 65 the typical person that age has a net worth of $232,000

If your annual income is $70,000 the typical person with the same earnings has a net worth of $168,500

Calculate the net worth applicable to your situation HERE

Note: Net worth above includes the value of real estate. Considering that, it appears that Americans in general are not doing well at accumulating assets. With net worth numbers as illustrated above, there is hardly money for emergencies let alone retirement.

What Does Your Net Worth Really Mean?

By Trent Hamm Last updated August 25, 2014

One of the most useful calculations a person can make when it comes to their personal finances is to figure out their net worth.

The actual calculation of net worth is really simple. You just add up the value of all of the things that you own – the value of your home, the value of your cars, the value of your savings accounts and investment accounts and retirement accounts – and subtract from that the value of all of your debts. The resulting number is your net worth.

Theoretically, your net worth is what you would have in cash if you sold every significant possession and paid off all of your debts. If your net worth happens to be negative – which is the reality for many people freshly out of college – your net worth is how much debt you still owe if you sold every major possession you have, emptied out every account, and tossed all of it toward your debt. Source: thesimpledollar.com