Adding all assets, subtracting all debts, what would average worth be.
Mortagages should be into latter stages, retirement savings increasing, etc etc.
My guess is average working man or professional would have net worth of about $450k.
Sound about right?
2007-01-26 03:30:59 · 7 answers · asked by Kaboom 3 in Business & Finance ➔ Personal Finance
This article would suggest the median net worth of an individual age 40-49 is around $133,000.
2007-01-26 03:42:11 · answer #1 · answered by Anonymous · 2⤊ 0⤋
I read somewhere (Kiplinger's?) that a rule of thumb is to take your age times your annual income and then divide by ten.
Let is say you are forty years old and earn $50,000 per year. Your net worth should be roughly 40 x 50,000 / 10 = 200,000.
Of course this is one opinion and only a rule of thumb. I am unclear how this might apply to a married couple. After all, most people's single biggest asset is their home. Do you average the two spouses' ages and use combined income?
2007-01-26 05:51:46 · answer #2 · answered by Adoptive Father 6 · 0⤊ 0⤋
According to my calculate I would estimate the average net worth of a 40 year old man to be about $325,000!
2007-01-26 04:25:56 · answer #3 · answered by traderb550 3 · 0⤊ 0⤋
People can guess all they want. Too many American's spend money like there is no tomorrow. Vacations, new phones, cars and all the new gadgets. I've been a financial planner for 22 years. I can tell you the average net worth of a 40 year old household is about 40, 000 to 80, 000. Most of them still have 5k to 10k in credit card debt and most of the worth comes from 401k balances. It's a tough world and most people don't pay attention because they are doing a poor job. These are the facts.
2014-09-04 03:03:39 · answer #4 · answered by Douglas 1 · 0⤊ 0⤋
Should or really have?
I'm 41, and mine is slightly higher than that, but I'm the exception. Of all my friends, maybe 2 are in as good a shape as I am. Most of my friends my age, I would guess, are around $200k, and some of them are around $15k. For the record, most of my friends are college graduates, and mostly in tech related fields.
So it sounds like a high guess to me.
2007-01-26 03:42:51 · answer #5 · answered by Quixotic 3 · 0⤊ 0⤋
It sounds about right. At 50, they consider 500 grand, which is half a million. So you are on target.
2007-01-27 16:48:49 · answer #6 · answered by bobbie e 3 · 0⤊ 0⤋
Money, is that all you think about??? I am worth more than money, or assets. I am priceless.
2007-01-26 03:37:30 · answer #7 · answered by Anonymous · 0⤊ 2⤋