Net Worth
Your net worth is the value of all of your assets, minus the total of all of your liabilities. Put another way, it is what you own minus what you owe. If you owe more than you own, you have a negative net worth. If you own more than you owe you will have a positive net worth. This calculator helps you determine your net worth. It also estimates how your net worth could grow (or shrink!) over the next ten years.
| Definitions |
| Home |
Current
value of your home. This should be as close to the actual market value
of your home. If you have owned your home for a number of years, this
could be significantly higher than your original purchase price current
market value. |
| Other real-estate |
The value of any other
real-estate you may own. Include second homes, undeveloped land, rental
property or any commercial buildings you may have an interest in. As
with your home, use the actual market value of this real-estate. |
| Automobiles |
This is the total value
of all automobiles that you own. Do not include any leased vehicles. |
| Other vehicles |
If you own any other
vehicles, such as RVs, campers or collectibles, enter them here. |
| Jewelry |
The value of any
jewelry, gems or precious metals such as gold. If you have owned these
items for a number of years they may have appreciated in price,
remember to use the current market value. |
| Household items |
The value of your
household goods and items. This would include furnishing such as
furniture, home electronics, silverware, etc. |
| Checking and savings |
The current total
balance of your checking and savings accounts. |
| Retirement accounts |
The current total
balance of your retirement accounts. This should include IRAs, 401(k)
savings, SEP IRAs, variable annuities and any other retirement savings
you may have. |
| Savings bonds |
If you own any Savings
Bonds enter the total here. |
| Bonds |
If you own any
Treasury, municipal, or commercial bonds enter the total here. |
| Mutual
funds |
If you own any mutual
funds, enter the total here. Do not included any mutual funds that are
in your retirement accounts, they were already included in the
"Retirement accounts" line. |
| Stocks |
If you own any
individual stocks, enter the total here. Again, do not include any
stocks that are held in a retirement account. |
| Life
insurance |
Some life insurance has
a cash value. This is true for Whole Life and Universal Life polices.
Term Life policies, on the other hand, have no cash value. If you have
life insurance with a cash value, enter the total here. Remember, this
should be the cash value of the policy, not the amount paid out if you
were to collect on the policy. |
| Cash |
If you have any other
cash, enter the total here. |
| Other |
If you have any other
assets of value, you can enter the total here. |
| Home
mortgage principal |
This is the current
principal balance remaining on your mortgage. This is the amount that
you would have to pay to own your home free and clear. |
| Other
mortgage principal |
This is the current
principal balance for any other real-estate mortgages you may have.
This includes mortgages on rental property, undeveloped land,
commercial property or any other real-estate. |
| Auto
loans |
Total amount you
currently have outstanding on your auto loans. |
| Student
loans |
Total amount, if any,
that you currently owe in college or student loans. You should enter
the total outstanding even if these loans are currently in deferment. |
| Other
loans |
Total amount, if any,
of any other loans you may have. |
| Credit
card debt |
Your total credit card
debt. |
