Are You Richer Than Other People Your Age?

Net worth is one of the best ways to measure your wealth. Net worth is assets (things you own) minus liabilities (obligations or things you owe). If you have a lot of assets and very little debt, you'll have a high net worth and, depending on just how high it is, you may be considered rich.Your net worth typically increases as you get older (unless you were born rich) since you usually acquire more assets and pay off debt as you earn money. So, it can be helpful to compare your net worth to others in your age range to get an idea of whether you're on track or if you need to rethink your savings plan.Here's what you need to do to make this comparison and get an idea of whether you're making the most of your income and building financial security.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool