Net Worth Calculator: What Is My Net Worth?
Net worth is assets (everything you own) minus liabilities (all that you owe). We walk you through the steps to determine yours.
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Net worth is assets minus liabilities. Or, you can think of net worth as everything you own less all that you owe. Use our free calculator to find yours.
Net worth calculator
Examples of how to calculate net worth
To calculate your net worth, take inventory of what you own, as well as your outstanding debt. And when we say own, we include assets that you may still be paying for, such as a car or a house.
For example, if you have a mortgage on a house with a market value of $200,000 and the balance on your loan is $150,000, you can add $50,000 to your net worth.
Your income is not included in a net worth calculation. A person can bring home a big paycheck but have a low net worth if they spend most of their money.
On the other hand, even people with modest incomes can accumulate significant wealth and a high net worth if they buy appreciating assets and are prudent savers.
Assets and liabilities explained
If you’re not sure what constitutes an asset or a liability, here are some guidelines:
Assets: Assets include cash, such as in your checking, savings and retirement accounts. That includes all 401(k)s and IRAs. Investments that you could sell for cash, such as stocks and bonds, are also included. These are often referred to as liquid assets.
Some fixed assets can count toward your net worth calculation, too, provided you can or would sell them if needed. For example, your home would count toward your net worth if you’re willing to use it for a home equity line of credit or sell it should the need arise.
Liabilities: Any money you owe to another person or entity falls under this category. That includes revolving consumer debts — such as credit card balances — as well as personal, auto, payday and title loan balances. If you’re using your home as an asset, its mortgage counts as a liability as well.
Compare your net worth
The Federal Reserve releases its Survey of Consumer Finances every three years — the most recent report was issued in September 2023 with data from a survey fielded in 2022. Here’s how U.S. median net worth stacks up by income, race or ethnicity and education.
Net worth of U.S. families by income
Income tier | Median net worth |
|---|---|
Less than $20,000 | $14,000 |
$20,000 to $39,900 | $71,000 |
$40,000 to $59,900 | $159,300 |
$60,000 to $79,900 | $307,200 |
$80,000 to $89,900 | $747,000 |
$90,000 to $100,000 | $2,556,200 |
All families | $192,900 |
Net worth of U.S. families by race or ethnicity
Race or ethnicity | Median net worth |
|---|---|
White non-Hispanic | $285,000 |
Black or African American non-Hispanic | $44,900 |
Hispanic or Latino | $61,600 |
Other or multiple race | $132,900 |
All families | $192,900 |
Net worth of U.S. families by education
Education | Median net worth |
|---|---|
No high school diploma | $38,100 |
High school diploma | $106,800 |
Some college | $136,500 |
College degree | $464,600 |
All families | $192,900 |
» MORE: See the average and median American net worth by age