How to calculate your net economic wealth:
- Think of all your assets and add up their value. Put this number in the assets field.
- Add up all of your debts and put this number in the debt field.
What does the number mean? You can get a qualitative feeling of your economic wealth based on the number. Below are some general categories:
- less than -1,000,000: way too much debt
- -1,000,000 to -100,000: too much debt
- 0 to -100,000: a lot of debt
- 0 to 10,000: good start on economic wealth accumulation
- 10,000 to 50,000: can start to feel confident about your economic situation
- 50,000 to 100,000: can feel pretty confident about your economic situation
- 100,000 to 500,000: can feel very confident about your economic situation
- 500,000 to 1,000,000: a very high level of economic wealth
- 1,000,000 to 2,000,000: getting close to a full level of economic wealth. Further wealth accumulation will only add incrementally to your actual total wealth.