Is Your Net Worth Lower Than Your Peers'? Here Are 3 Tips to Boost It.
You've probably looked at your income in comparison to those around you, but have you ever wondered where your net worth stands? Net worth often flies under the radar, but it's the number that will tell you how close you are to being a millionaire. Think of it as your personal balance sheet, reflecting the total of all your assets, such as cash savings, certificates of deposit, and retirement accounts, minus your liabilities, such as credit card debt and student loans.
It's easy to confuse net income and net worth, but they aren't the same. A person can earn $200,000 a year and have a net worth of only $20,000 because debt is weighing the person down. To get a better idea of how your peers are really doing, we've gathered the net-worth numbers so you can see where you stand.
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Source Fool.com
