Reported 9 months ago
The median family net worth in the US is $192,000 according to the Federal Reserve. Net worth is calculated by subtracting what you owe from what you own, serving as a crucial indicator of financial health. Assets like bank and investment account balances and property values are considered, while debts such as student loans and mortgages are subtracted. Tracking net worth over time with the help of financial advisors or online tools like bank accounts or spreadsheets can be motivating and help monitor progress in reducing debt and increasing savings.
Source: YAHOO