I was looking at the balance in my (meager) 401K today, and I decided to see if I could calculate my net worth. On the positive side went my two 401K accounts, my savings account, and the market value of my car (I used the middle value at Edmunds.com). On the negative side went my debt, including my car loan. I did not include the value of any of my ordinary possessions like electronics, clothing, etc., since I don't own anything particularly valuable.
To my surprise, my net worth is positive! I am proud to report that, as of this moment, I am worth about
$3,130!
2 comments:
Yea, positive!
That's about how I calculate mine except I add the house value and (subtract) the mortgage debt.
Once you're positive, it's all easy from there.
Congrats! I'm still negative because of the student loans. Being a full time grad student for 6 years is expensive. The interest isn't a problem - I'm earning a higher return on my money market than I'm paying on the student loan, net of tax effects.
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