Surewhitey
Thinks s/he gets paid by the post
The Average Net Worth by Age and How to Build It article is easily spotted as inaccurate in calculation of Net Worth.
Not exactly surprised, I guess.
https://www.msn.com/en-us/money/per...by-age-and-how-to-build-it/ss-AANcqvw#image=2
What Is Net Worth?
Net worth is determined by subtracting everything you owe to creditors from everything you currently own. Or put another way, it’s the value of your assets after you’ve subtracted all your debts and liabilities.
Let’s consider John. He owns a home currently valued at $300,000. His current mortgage balance is $150,000, so John has $150,000 in home equity that counts toward his assets.
In addition, John has an investment portfolio worth $150,000 and outstanding debt of $180,000 in the form of credit card debt, a car loan and his mortgage.
To calculate John’s net worth, we’ll subtract his total liabilities (outstanding debt) from his total assets (home equity and investment portfolio). Not counting possessions like his car, furniture, electronics, jewelry, etc., John’s current net worth is $120,000.
$150,000 home equity + $150,000 investment portfolio — $180,000 outstanding debt = $120,000
Not exactly surprised, I guess.
https://www.msn.com/en-us/money/per...by-age-and-how-to-build-it/ss-AANcqvw#image=2
What Is Net Worth?
Net worth is determined by subtracting everything you owe to creditors from everything you currently own. Or put another way, it’s the value of your assets after you’ve subtracted all your debts and liabilities.
Let’s consider John. He owns a home currently valued at $300,000. His current mortgage balance is $150,000, so John has $150,000 in home equity that counts toward his assets.
In addition, John has an investment portfolio worth $150,000 and outstanding debt of $180,000 in the form of credit card debt, a car loan and his mortgage.
To calculate John’s net worth, we’ll subtract his total liabilities (outstanding debt) from his total assets (home equity and investment portfolio). Not counting possessions like his car, furniture, electronics, jewelry, etc., John’s current net worth is $120,000.
$150,000 home equity + $150,000 investment portfolio — $180,000 outstanding debt = $120,000
