Net Worth Update | The US Average Net Worth for Your Age, Race and State

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Hey Budget Buddies! Thanks for stopping by. This is my updated net worth. I was pleased to see that it jumped quite a bit but don't really care. In this video I'm also discussing the sad truth, all the reasons why these numbers don’t matter very much to me. The average net worth for the US household is really high, in my opinion. This could be discouraging for many, but I choose not to care what they say. Who decides what amount we should be worth by a certain age? Why do they get to decide our worth? They don't. We decide.
Leave a comment to let me know you were here, if you’d like. I'd love to hear from you. Let me know your thoughts. Where are you on the list: below, at or above average? I respond to all comments.
#averagenetworthbyage #networth #lowincome
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Опубликовано:

16 окт 2024

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Комментарии : 92

@crunchingwithcris 10 месяцев назад

I really hate this lists by the age. They don’t take account person life events single moms disabilies etc etc. I agree with you and take a more positive view on my life finances. 5 years ago I was in so much much debt I totally thought £30000 was an amount would be with me until I die. 2 years ago having a though and f having £500 in a saving account and was totally impossible last year though of having £2000 in saving account again was a dream. All I know is that every year I break the impossibles in my mind and I am happy with this, like you I want to have a life I be happy with and help others. You definitely my favourite on you tube as you so real and honest. I am super happy with your number and is inspiring how hard working you and your family area. 💗💙💗

@debt2none 10 месяцев назад

I hate it too. I’m not a fan of generalizations. There’s way too much to take into consideration. I’m so proud of you Cris, breaking through what you once thought was impossible is amazing. That’s what I aim for. I just want to make personal advancement no matter what others are doing at my age. Thank you my sweet dear friend. You are real treasure to me💗

@crunchingwithcris 10 месяцев назад

@@debt2none you are the best 💗💙💗

@FIRE_DrNinjaTurtle 10 месяцев назад

I started late in life and achieved financial freedom. Anyone can do it at anytime in their life. It is never too late.

@debt2none 10 месяцев назад

For sure, I agree

@shaneyg25 10 месяцев назад

Kim you are so transparent. That transparency will help ppl get more comfortable talking about money. I don’t care what “they” say, net worth holds some weight but it’s not the most important thing in life in my opinion

@debt2none 10 месяцев назад

Aww, thank you for saying that. 🥰 I totally agree. I like seeing my progress, but my net worth definitely isn’t the most important thing 💯

@FIRE_DrNinjaTurtle 10 месяцев назад

I started out homeless at the age of 25. I am now retired with a 1 million dollar Networth. They say the first million is the hardest, so on to 2 million. I love your channel because I have been through the struggle. I continue to struggle.

@debt2none 10 месяцев назад

Wow!! That’s amazing!!🤯🙌🏾👏🏾 Thank you for sharing. I’d love to hear more about your experience

@JustLiving2018 9 месяцев назад

Awesome Kim. I don't agree with the experts either. Life happens, and when your not taught at a young age many are at a disadvantage. Just keep striving to better every year.

@debt2none 9 месяцев назад

Yea it would have been nice to have been taught financial literacy in school. But better late than never I guess.

@vickiemendoza9252 10 месяцев назад

What a blessing, you look like you're in your 20s. ☺ I thought this was really interesting information! of course, I'm below my net worth but that's okay!! I'm doing just fine even if they don't think so, lol.

@debt2none 10 месяцев назад

Awww!! Thank you Vickie!! Yea, I’m with you. 🙌🏾 I’m doing just fine.

@greatwhitenorthtreasures3606 10 месяцев назад

Kim, I would say that WAY more important than net worth once you hit a certain age is working aggressively toward goals related to retirement and determining where and how you will have cash flow and minimize expenses like housing at that time in your life. Because time flies. I am seeing firsthand individuals in my own family who did not plan for their retirement in the US and now depend almost 100% on social security, which was never meant to be the sole, or even primary, provider of retirement income. The SSI amount is probably meant to be about 1/3 or 1/2 (for some) of income ppl will need in retirement, so I think those projected Social Security income numbers (since the whole caboodle of SS seems to be on the brink as time progresses) and then REGULAR INVESTING is very important going forward. (In our case, it's not actually Social Security since we are in Canada, but there is a government retirement program/s here that is/are similar but very stable financially unlike SS in the US.) I'm commenting from a similar age, as I'm 48. Heidi in Vancouver

@debt2none 10 месяцев назад

Oh for sure, preparing for retirement is important especially, for those up in years. My husband and I are working on cutting our expenses drastically right now, though they’re pretty low already. None of the state or federal programs here are able to cover the full cost of living. I agree with you, SSI is probably meant to be 1/3 or so.

@debratakagawa4764 10 месяцев назад

Those numbers are just a guide. It’s amazing how any of us can make our net worth look pretty good or kinda measly depending on the information source. I know when people start investing in retirement (401k, Roth, Ira or 403b accounts) the net worth will increase substantially. You didn’t mention retirement investments. So keep doing what is good for you.

@debt2none 10 месяцев назад

Yea, that’s what it is - a guide. It’s interesting to see what they say. My net worth looks pretty measly no matter the source 🤣 I haven’t begun funding my Roth yet, but I plan to soon. Either way, I know we will be just fine because we don’t need much to live on.

@hopn2budgetwithbunni532 9 месяцев назад

Hey, Kim Happy New Year's I know it's been a while girl since you've seen me over here but I'm here for the new year this video was very informative to me. And congratulations on all of the success on your channel I'm so happy for you❤❤❤❤❤

@debt2none 9 месяцев назад

Heeey Bunni!! Thank you so much my friend!! I really hope 2024 is a great year for you. 💗😘🤗💗

@KatieoftheHouse 10 месяцев назад

Great video, Kim! I always love your attitude. I love tacking net worth just to see how our debt payoff improves it, but you are so right that money is nowhere near the most important thing!! I definitely like seeing that median number rather than the average 😅😂

@debt2none 10 месяцев назад

Thanks Katie! I’m with you, I like tracking my net worth now. It’s a good barometer of my progress. And the median is more my speed😂🤣😂

@tyecooper4536 9 месяцев назад

Hi! New to the channel. Binge watching and love your content. You come so far in your journey, I'm so happy you cut those subscriptions lol. I was like, my goodness please get a Roku or fire stick lol. So sorry for you & your husbands. ❤

@debt2none 9 месяцев назад

Hi there!!! Aww, thank you so much. I really appreciate you being here. Oh my goodness, I blame the pandemic on all those subscriptions 😂 and would you believe that I had Roku the whole time? Yup🤦🏾‍♀️ Thank you for your sympathies 💗

@SweetPotata10 10 месяцев назад

I really think to truly measure a net worth that actually means something, you gotta be one excluding your primary property. Most people’s home represent 40-50%, which is way too high given it cannot easily generate income. Otherwise, it’s just a number.

@debt2none 10 месяцев назад

Ohhh okay.

@GillianBudgets20203 10 месяцев назад

Hey lovely lady.. Good to see you. Those figures were definitely interesting.. Thank you so much for sharing and giving your opinion ❤❤ I honestly don't follow them guidelines etc... As it forces me to compare myself and allow me to not be content. I like to set my own goals like you said and be the best version of me.. 😅..

@debt2none 10 месяцев назад

Hi Gillian😘 Comparing ourselves with others is such a trap. Contentment will elude us when we do that. I agree with you completely. And I recently realized that I don’t even need a large net worth to live well in retirement. My husband & I are getting ready to seriously simplify our life.

@trinawalker4007 10 месяцев назад

Good evening, so good to see you back.

@debt2none 10 месяцев назад

Thank you!

@moneywithjustliving5258 10 месяцев назад

Hi Kim, glad to see your video. This is a great topic and can be confusing.

@debt2none 10 месяцев назад

Heeey Paula! 🤗 Yea, it’s confusing. I don’t even think those numbers really matter as long as we have what we need in retirement, then we’re good.

@thequeensbudget 10 месяцев назад

Hi.. Im 55 and my net worth is $785,065 That includes my house value minus how much I owe which is $112,000 (already factored in) , high yield savings, 401K, personal stocks, IRA's etc... it doesnt include my checking and savings acounts that I use on a daily basis which has about 5 grand in it.. because I use that for bills and stuff... I feel I'm behind in my retirement savings...

@debt2none 10 месяцев назад

Oh wow! And I think you’re doing fantastic!! But I guess looking at what others have could make you feel like you’re behind. I say “Well done!!” 👏🏾🎉

@sarahschreffler5407 10 месяцев назад

I'm 50 and me too.

@BudgetStuffSaveRepeat 10 месяцев назад

Hi Kim!!! Exactly, only God can define us, not statistics!!! Net worth is nice to know (period) … but I don’t put a lot of weight on it. I hope you are doing well!!!

@debt2none 10 месяцев назад

I couldn’t agree more. It’s cool to know & see my progress. Thanks Melissa ❤️ Hope all is well with you and yours too!😘

@IDesireeWealth 10 месяцев назад

Hey Kim, glad to see you. Sending ❤ to you and your hubbz. Enjoyed the video.

@debt2none 10 месяцев назад

Hey Desiree❤️ Thank you sweet lady. I appreciate you my friend 🤗

@IDesireeWealth 10 месяцев назад

@@debt2none Your welcome

@michelleswanston5882 10 месяцев назад

I always imagined we were around the same age lol I'm 36, and my net worth is about 170k, most of which is due to the value of my home, then 50k retirement and 20k emergency fund which I focused on building this year. I'm single with no kids, and my mortgage is my only debt, but I'm pretty behind on retirement savings for my age, which concerns me as a single person. My goal for next year is to really beef that up. I'm trying to find the balance of enjoying the present and securing the future. Both are important, and I don't want to sacrifice one for the other and regret it later in life.

@debt2none 10 месяцев назад

Aww 🥰 Thank you. Yea, I hear you! I can understand why you’d be concerned about your retirement savings. I actually squandered everything that was set aside for my retirement in my 20s. Hanging around the wrong people who didn’t care about the future, I made bad decisions. Now, I regret it but I’ve come to realize that I don’t need much to live on & to be happy. However I’ll start putting money into retirement in 2024.

@negativetraction5721 10 месяцев назад

Don’t be worried! You’re doing much better than the people I know at that age. Being aware is the first step, and it seems like you’re more than capable when it comes to getting to where you want to be. Keep up the hard work and you will reap the benefits. "Go to the ant, O sluggard; consider her ways, and be wise. Without having any chief, officer, or ruler, she prepares her bread in summer and gathers her food in harvest.” "The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.”

@Frugalityislife 10 месяцев назад

Hi Kim! Great to see you ❤

@debt2none 10 месяцев назад

Thank you my friend 🤗❤️

@kristine_budgets_and_bujos 9 месяцев назад

Well this was depressing 😂 but also not unexpected. I definitely did NOT fit in any of those categories… 😅 Thanks for sharing though! 🙂 I really should calculate my net worth so I can track it as I go through my financial journey. I’m just afraid of what I’ll find!

@debt2none 9 месяцев назад

Oh my gosh, Kristine, that was me for the longest time. I dreaded seeing the negative number. But even watching a negative number get smaller over time is encouraging. So I figured what the heck, let’s do it. 😅

@keemiel4005 2 месяца назад

Millionaires do use the Empower app. The average net worth per state can be skewed higher by the millionaires that use the app.

@debt2none 2 месяца назад

Oh yea, for sure! That makes sense.

@alexmertens5269 10 месяцев назад

You're 45?!?! I thought late 20's at most!

@debt2none 10 месяцев назад

You just made my day!!! Seriously! Thank you 🥹🥰🥹🥰

@bird7464 10 месяцев назад

@@debt2none hahaha Kim, I thought you were 23. When I started watching you your motto was- debt-free at 23. I really thought you were referring to your age ( not the year 2023 hahaha ) I was even impressed by how smart you are at 23 and even jealaus a little why I was not that smart at 23...

@jorjapeach2068 3 месяца назад

Omg thank you for sharing 💗and that net worth list definitely does not account for race !!

@debt2none 3 месяца назад

Thank you for watching! 🤗🩷 Right??? There’s so many things to factor in when discussing net worth. It’s definitely not an equal playing field.

@luzloveslife 10 месяцев назад

Great video! Very interesting statistics 📊

@luzloveslife 10 месяцев назад

I was very surprised to see that I am above the median and below the average. I find this information encouraging. Sometimes I feel like I am way behind, but I am not doing too bad.

@debt2none 10 месяцев назад

@luzloveslife What a boost to see that things are better than you thought! And I feel pretty good about my situation too when I consider all the factors.

@luzloveslife 10 месяцев назад

The important thing is that we know where we stand and are working towards making progress 💪.

@niki9638 9 месяцев назад

I know it matters- but it doesn’t matter to me. I grew up not having wealth, I’ve spent my adult life without wealth. At least I don’t have to worry about someone stealing my identity! They’d be like- dang girl- here’s a gift card…!!!

@debt2none 9 месяцев назад

Yea, it matters to a whole lot of people but not to me either. I feel you. Wait a second, I’m dead. lol!!!!! Did you just say the identity thief would feel so bad for you that they’d give YOU a gift card? 😂🤣😂

@niki9638 9 месяцев назад

@@debt2none 😇

@JasonLee-pn8vu 9 месяцев назад

I’m 50 and only have net worth of 3 million so I’m really worried

@debt2none 9 месяцев назад

Oh yea…I’d be worried too

@MatthiasAI 8 месяцев назад

I was thinking 22k on hand cash is crazy but then remember you have to pay for your own healthcare at the counter in USA. even though medical care is abit slow in Canada because of so much shortages and USA stealing all our doctors on a monthly bases im happy for having health care come from my taxes so i never have to feel in danger of being in mortal debt because of something happening health wise.

@debt2none 8 месяцев назад

Oh yea, I hear ya. Healthcare is definitely an area where the US falls short in. It’s pretty sad.

@jaderoyale-brown 9 месяцев назад

#replaywatch 12/25/23 I don’t like being or feeling like I’m in a box. That lists sucks🥴

@debt2none 9 месяцев назад

lol! I hate boxes too 💯

@stuff4232 10 месяцев назад

idk if you can really add that value of home like that. I think for your net worth you have to add only the amount of equity you own for yourself, not that actual valuation.

@debt2none 10 месяцев назад

Oh, that’s interesting. That’s how the Empower app did my net worth valuation so I was just relaying their information. Either way works for me. But I guess if I didn’t add the entire home value, I wouldn’t add the remaining mortgage either.

@whothou 4 месяца назад

the equity would you own on the home would just be value of the house minus the current loan amount. So no they were correct in how they added it to their net worth

@faithbydesignXO 10 месяцев назад

💜💜💜 Kim!!

@debt2none 10 месяцев назад

Hi Imani!👋🏽❤️🤗

@faithbydesignXO 10 месяцев назад

@@debt2none Hi Kim! I was walking and listening earlier!! Very interesting info by demographic. I have been putting off calculating my net worth but I think I’m ready to face the numbers just to know. Glad to see and hear from you! Great video!! 💜🌻

@debt2none 10 месяцев назад

@faithbydesignXO Aw, thank you sweetheart. I need to get back walking regularly. Totally fell off my routine. Yea, check out those numbers. You may be pleasantly surprised. 😘