Don’t get obsessed with accounting for every penny. Ballpark values will do, especially when it comes to tangible, illiquid items like collections. See below for definitions of terms in this calculator and read our guidance on how to establish more accurate values for your various assets.
Cash: what you have on hand, what’s in your checking accounts and what’s in your savings accounts. Include any savings bonds and certificates of deposit.
Retirement Savings: the value of your 401(k), IRA or other defined-contribution plans. Pensions can be tricky to value.
Other Investments/Brokerage Accounts: Draw from your most recent statements for stocks, bonds, mutual funds and other negotiable instruments.
Businesses You Own: While these could be potentially significant assets, they may be illiquid or have significant debt. You will know best how to value them for your personal circumstances.
Life Insurance or Annuities: Your premium payments on a whole-life insurance policy add to your net worth by increasing the policy’s cash value (the amount you’d get if you cashed it in). Also include the surrender value of any annuities you own.
Primary Residence: If you are a homeowner, this is likely to be your biggest asset. Online calculators can help you get an estimate, but also, check to find out what similar homes in your area are fetching. Same goes for a rental or vacation property you might own.
Property: While cars are relatively easy to value with online guides, other tangible items can be more difficult. Consult specialty guides (or look at online auction sale prices of comparables) and be conservative.
How Young People Can Own Their Financial Future Authentically
It starts with trusting the process. The good news is Gen Zers and younger Millennials are on their way, a new study says.
By Margaret Franklin, CFA • Published
Stock Market Today (09/30/22): Stocks Sell Off to Close a Disastrous September
The stock market's latest slide occurred as inflation data came in hotter than expected.
By Karee Venema • Published
investing Look up ticker symbols with this widget from Trading View
By Staff • Published