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Knowing your net worth can tell you a lot about the state of your personal finances. It lets you know where you stand and tracking the number over time can help you see if you’re making improvements in your financial situation or if you’re falling into debt.

This calculator will help you determine your net worth, showing you the total value of your assets minus the total value of your liabilities. The calculator also breaks the value of your assets and liabilities into summarized categories. Be sure to read the section below it for more information on how to figure out your net worth.

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Your Net Worth

Simply put, net worth is a number that indicates how much wealth you have amassed. If the number is positive, it means that you have more than you owe— a good position to be in. On the other hand, if the number is negative, you owe others more than you have. Having an idea of your net worth can help you understand whether you’re on the right track financially.

This number can also improve your plans to tackle debt, develop an overall financial plan, or plan your estate. Net worth is calculated by subtracting your liabilities from your asset.

Your Assets

In finances, an asset is anything that you own. It doesn’t necessarily have to be a tangible asset like a home or car— bank accounts and investments like stocks and bonds count too! Here are some of the biggest categories of assets to consider.

Real Estate

If you own a home, enter the current estimated value of your property. Keep in mind that this is different from the amount that you paid; it is the amount that it is currently worth. Real estate prices generally rise, so if you bought your house years ago, it is likely worth more now. To estimate this amount, consider your most recent appraisal or what similar homes in your area are currently going for on the market.

If you also own land, rental properties, or a vacation home, add those values in as well. Approach these items in the same way that you did your primary residence.

Personal Property

This is a pretty large category that encompasses all of your valuables. Think about including:

  • Any automobiles, motorcycles, and other vehicles that you own. Like the real estate areas, the amount you input here should be what the vehicles are currently worth, not what you initially paid for them. Automobiles depreciate quickly, so to get a better idea of what your car is worth, check out a website like Kelley Blue Book.
  • Household items/jewelry. Enter the estimated value of any jewelry and other household items of value, such as artwork, decor, or furniture.
  • Other assets. Think about other assets that you may own— tech gadgets, entertainment systems, boats, etc. Add up those values here.

Investments

Enter the total value of all investments that you own, including accounts like stock portfolios, bonds, options, annuities, and more. You should also include retirement accounts like:

  • Traditional and Roth IRAs
  • Traditional and Roth 401(k)s
  • Keoghs
  • SIMPLE IRA plans

Cash

Enter the amount that you have in your bank checking or savings accounts. Have a little bit of cash tucked away under your mattress? Don’t forget to include that! Make sure to also include any life insurance policies here.

Your Liabilities

Liabilities are the other category that we consider when calculating net worth. A liability is an obligation between one party and another that is not yet completely paid for. Here are the main categories used to compute this number.

Mortgage Balance

If you own a home, enter the outstanding principal balance of your home mortgage. This number shouldn’t include interest, just what is left of the amount you initially borrowed from the lender.

Similarly, if you own any other properties but still have outstanding mortgage payments, enter the amount you owe.

Loan Balances

This includes all other non-mortgage loans, like auto, student, or personal loans. This may also include medical debt, retail store financing, home equity loans, or home equity lines of credit.

Credit Card Debt

Have credit cards? Add up any outstanding balances you have on the accounts.

Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer Member FINRA/SIPC and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2021.

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