Transcript:
Net worth is a way to help measure your financial health.
How to determine your net worth.
Net worth is calculated by adding up all the items of value you own, called assets…
…and subtracting all the debts you owe, called liabilities.
Have more in assets than liabilities? Then you have a positive net worth.
If you have more in liabilities than assets, you have a negative net worth.
By using net worth you might find you're in better financial health than others around you.
What is the median net worth?
In 2023, the median net worth, or the middle point of all people in the US, was $121,700*.
Saving and the right planning could help you achieve that net worth and more.
So that's net worth. Find more ways to know and grow your money at vividcrestonline.com.
READ MORE: Video - Money: Know It to Grow It - IRA