Piggy Bank Logo. Free Personal Net Worth Calculator

Have you spent a lot of time online looking at the net worth of famous businessmen? And are you wondering what your own net worth is? This calculator can help you estimate your total net worth.

First enter all of your assets. This includes liquid assets like the balance of any checking or savings accounts. Then include information pertaining to any investment accounts, properties you may own, and so on. Then enter your total liabilities. Make sure to be as thorough as possible, or you won’t get a valid calculation. Press CALCULATE and you’ll see what you’re worth. Click “Printer Friendly Report” and a new browser window will open with a detailed report.

Your Name Enter date to display on report
Assets Liabilities
Liquid Assets Short-Term
Cash (checking & savings accounts) Credit Cards
Short-Term Investments Car Loan
Treasury Bills Construction Liens/Notes/Balances Due
Savings Certificates Loan on Life Insurance
Money Market Funds Installment Loans
Cash Value of Life Insurance Accrued Income Taxes
Other Other Debt
Total Liquid Assets Total Short-Term Liabilities
Investment Assets Long-Term
Notes Receivable Loans to Purchase Personal Assets
Marketable Securities Loan to Acquire Business
Securities Mortgage on Personal Residence(s)
Bonds Note to Business
Real Estate (investment) Other
Tax Incentive Investments Other
Retirement Funds Other
Total Investment Assets Total Long-Term Liabilities
Personal Assets Contingent Liabilities
Residence Endorser
Vacation Property Guarantor (SBA Loan)
Art, Antiques Damage Claims
Furnishings Taxes
Vehicles Other
Other Other
Total Personal Assets Total Contingent Liabilities
Total Assets Total Liabilities
Net Worth


Easy Steps to Figuring Your Net Worth

Robinhood is Broke.

It's not everyday that you sit down and figure out how much you are worth financially. However, there are times that it may be necessary for you to do so. If you have large financial plans for the future, such as buying a house, sending a child to college, or retiring, you may need to calculate where you stand financially. Although the thought of figuring out your net worth may be intimidating, it's not as difficult as it sounds. You'll just need some basic financial records, some paper, and a calculator.

The Basic Equation

The basic equation to figure out your net worth is simple. You add up all of your assets, or everything that you own of value, and all of your liabilities, or all of your debts. Subtracting all of your liabilities from your assets will give you your net worth.

Add Up Your Assets

Your assets consist of everything you own of value. The largest assets that most people have are homes and vehicles. You'll have to figure out the current assessed value of any homes that you own, even if you have mortgages. You'll also have to find the blue book value of any vehicles you own, including cars, boats, motorcycles, RVs, ATVs, etc., even if you have loans on them.

There are other assets that you also need to include. You need to get your most recent bank and investment statements and add up all of your cash, including paper, coins, silver, and gold, and funds in the bank, including checking and savings accounts, money market accounts, and certificates of deposit. Next, figure out the current value of any stocks, bonds, mutual funds, saving bonds, and retirement accounts that you may have.

Figure out the value of any personal items that you have, including jewelry, electronics, furniture, musical instruments, collectibles, etc. It's easiest to focus on items worth over $500. After personal items, figure out the cash value of any life insurance policies that you may have. Finally, add any money that you are owed that you are certain you will be paid.

Add up all of these things, as well as anything else that you have of value that may not be listed here, and you'll have the total value of your assets.

Add Up Your Liabilities

Your liabilities consist of everything that you owe to other people, in other words, all of your debts. The most common debts that people have are mortgages, home equity loans, vehicle loans, student loans, and credit card debt. Gather your recent loan statements and add up the totals that you owe for each loan and debt.

Consider any other debts that you may have. Some additional debts may include personal loans, income taxes, medical bills, payday loans, and cell phone or utility bills. If these debts apply to you, gather your most recent statements to find out exactly how much you owe.

Once you add up all of the money you owe, you'll have the total value of your liabilities.

Determine Your Net Worth

Once you subtract the total value of your liabilities from the total value of your assets, you'll be left with your net worth. But what does it mean?

Evaluate Your Net Worth

Your net worth will fluctuate throughout your life, depending on your circumstances. However, the goal is that over time, your net worth continues to increase.

If your net worth is currently negative, it means that you owe more money than you currently have. This doesn't mean that you're in an impossible financial position. A negative net worth is common in people that have just finished college due to high student loans. A negative net worth is also common for people during rough economic times when their mortgages are more than their houses are currently worth. A negative net worth lets you know that there are debts that you need to pay down as quickly as possible. It lets you know that maybe that $3000 TV isn't as important as paying off that $3000 credit card bill.

If your net worth is positive, it means that you have more money than you owe. This is a very good thing. It gives you more freedom to decide what to do with the money you have. For example, should you invest $5000 in a 5% CD? It may make more sense to use the $5000 to pay down a credit card debt at 12% interest. However, if your short-term debt is under control, it's always a good idea to invest extra money and make your money work for you.

Know What Your New Worth Should Be

Although everyone's new worth is going to vary, there is a basic equation that you can start with. That equation is:

Net Worth = (Your age - 25) x (Gross income / 5).

A 40 year-old that makes $60,000 a year should aim for a net worth of (40 - 25) x ($60,000 / 5) or 15 x $12,000 or $180,000. Understandably, your net worth may need to be higher or lower depending on your needs and lifestyle. But this gives you a place to start.

Use Your Net Worth to Your Advantage

Your net worth can be used to figure out your spending habits. Where exactly is your money going? Looking at your liabilities gives you a good idea of what you're spending most of your money on. Is your credit card debt disproportionately high? That may be a place that you can cut back spending and increase your net worth.

Calculating your net worth on a regular basis can also help you to determine your progress. Some people figure out their net worth every month, others once a year. Whatever schedule you choose, stick to it. Use it as a tool to see where you are and how you should spend your money. Doing so can help you to see your progress as you watch your net worth increase over time.