Understanding net worth and why it's important

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According to the Federal Reserve's Survey of Consumer Finances, the median family net worth in the United States is $192,000. But what exactly is net worth, and why does it play such a crucial role in understanding financial health?
Yahoo Finance reporter Molly Moorhead breaks down the concept, its implications, and how to calculate it.
#news #youtube #networth
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Опубликовано:

28 июн 2024

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Комментарии : 35

@ShawnWagner-sh8fi Месяц назад

Currently, things appear to be odd. Inflation is reducing the value of the US dollar, but it is strengthening in comparison to other currencies and commodities like real estate and gold. People are switching to the dollar because they believe it is safer. I worry that the rising cost of living may cause the value of my retirement savings to decline. We could put our cash right now.

@BeverlyTerry-zx4bt Месяц назад

Having a mentor is my personal recommendation. It seems like a good bet if you have limited market knowledge, but I'm not sure where you'll find an experienced one.

@JoshThompson671 Месяц назад

Having a mentor is my personal recommendation. It seems like a good bet if you have limited market knowledge, but I'm not sure where you'll find an experienced one.

@RobinPerez-we6fp Месяц назад

Please who's this advisor that guides you?

@JoshThompson671 Месяц назад

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with *KAREN* *MARIE* *GENDRON* for about five years now, and her performance has been consistently impressive.

@RobinPerez-we6fp Месяц назад

Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.

@DSLightning21 Месяц назад

Understanding net worth is important, because most folks worry more about how much they MAKE rather than how much they KEEP. 😉

@sch2344 Месяц назад

“Talk to your financial advisor to help calculate your net worth.” Ha! I have talked to three different licensed advisors and the speech they gave me was, “bring me all your money and I’ll take care to the rest.”

@Ascendsean35 Месяц назад

Sounds about right. But there’s also ZERO reason to need an expert to “calculate” your net worth.

@MatthewMS. Месяц назад

My net worth is filthy rich due to nVidia 💚🖤💰

@M3ta1 Месяц назад

Time is a valuable thing, watch it fly by as the pendulum swings.🎵

@reginafefifofina Месяц назад

<a href="#" class="seekto" data-time="21">0:21</a> it’s a wonderful tool when considering life insurance limits, prenuptial agreements, retirement and Estate Planning!

@kyungshim6483 Месяц назад

Should pension be part of assets when calculating net worth? What about life insurance benefits?

@terrie001 Месяц назад

Comment flood with bots commenting about nvdia and something random. Lol.

@mxweng Месяц назад

Thanks to Nvidia, my net worth is currently 2X the median for now.

@chkee17 Месяц назад

Establish a routine to monitor your personal net worth

@cheezybred Месяц назад

Yeah, but most fams have this in home equity. It’s not liquid that they can access.

@tjoybungisngis7832 Месяц назад

Ya i know my favorite subject is math..

@Seanpfree Месяц назад

That number is no where near correct for 95% of us.

@chrisphilips2768 Месяц назад

I believe the average net worth of Americans as well over 200 K. Over 40% of homes in the US are mortgage free. People are receiving large inheritances, and the economy is booming

@AKAAAK Месяц назад

"Hopefully" your salary increases 🤣. We all know incomes have not kept up with costs/inflation for more than 30+ years

@MichaelHalsell Месяц назад

Net worth in 2024. Are we having fun boys and girls?

@Seanpfree Месяц назад

I am 💯 convinced these people have NO IDEA what's going on outside of their wealthy bubble. They'll figure it out with the coming social unrest.

@Joseph-zw3sb Месяц назад

I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024

@Anthony-bh6dd Месяц назад

Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.

@MileyHumphrey-ql4jp Месяц назад

Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.

@Thomas-mh6ib Месяц назад

I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?

@MileyHumphrey-ql4jp Месяц назад

My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

@Thomas-mh6ib Месяц назад

I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you

@deemiller5024 Месяц назад

Your home is not an asset. It cost money in taxes, insurance, and upkeep. Even if paid off. I think it should not be counted in your net worth.

@glennz6686 Месяц назад

Since when is a home not an asset. Living in a paid house versus living in an apartment paying rent. Huge indicator where you are financially. Definitely should be counted as part of your net worth.

@johnalexander4946 Месяц назад

A home is real property and is considered by all financial standards to be an asset. There are expenses of course. But appreciation over time will more than offset that. Furthermore one’s primary residence is one the best true income tax shelters left in the US. A couple filing jointly can take up $500k in appreciation every two years tax free. An added benefit is that your housing costs are controlled and stable. You’re building equity rather than paying rent to a landlord. If you can afford it a home is truly one of the best investments you can make.