Welcome to my first video on personal finance! Today we’re discussing why net worth is a more complete picture of wealth versus income alone, how to calculate your net worth, and how to use data from the US Federal Reserve to determine our percentile net worth rank.
I created a Net Worth Calculator & Tracker for you to use, and we'll go through each line of it to ensure we're calculating correctly. Access the calculator here:
While we focus on the financial aspect of wealth, it’s important for me to mention that is only one dimension of an overall wealthy life. That said, the financial aspect in the piece that I’m best equipped to help with and I hope this series adds value to you.
A few other disclosures:
1. I’m not a financial advisor, and I’m not pretending to be one. Financial advisors are ultimately sales people, and while they have immense training, I’m not here to sell you anything. All investment decisions require due diligence and like anything, you should consider opinions of multiple professionals.
2. The views expressed in this video are my own and do not reflect the views of my employer or any of the clients that I work with.
3. Lastly, this video is dense and requires your full attention. I’m willing to continue making this content, but I need your help in choosing topics. How can I best help you in the next one?
Thanks,
Armand
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