Short answer
Net worth is total assets minus total liabilities: what everything you own would sell for today, minus the full balance of every debt. In the example above, $583,100 minus $376,100 is $207,000. For reference, the median US family had $192,900 in 2022 and the median Canadian family $519,700 in 2023.
- What you get
- Net worth, two ratios, age median
- Inputs
- 12 lines, add your own
- Time
- About 5 minutes with statements at hand
- Price
- Free, no account
How the calculator works
- 01Net worth. Total assets − total liabilities. Assets are entered at what they would fetch today; debts at the full amount still owed, including a card you clear every month.
- 02Debt-to-asset ratio. Total liabilities ÷ total assets. It shows how much of what you own is financed by debt. With a new mortgage it is high; it falls as the mortgage shrinks and savings grow.
- 03Liquid net worth. Cash plus taxable investments, minus credit cards and lines of credit. Retirement accounts, the home and vehicles are left out, because you cannot reach them within days without selling or penalties. This is the figure that matters in an emergency.
What to count, and at what value
The subtraction is easy. The result depends on the value each line gets. These are the rules the calculator’s fields assume; the full method with a worked household is in how to calculate net worth.
| Line | Value to enter |
|---|---|
| Cash, chequing, savings | Balance on the same date as everything else |
| Investments, crypto | Quantity × today’s market price, never what you paid |
| RRSP, TFSA, pension, 401(k), IRA | Current balance; keep the same pre-tax or after-tax view every time |
| Home, property | A cautious resale estimate, changed rarely |
| Vehicles | Private-sale value today |
| Mortgage and loans | Full outstanding principal, never the monthly payment |
| Credit cards, lines of credit | Current balance, including cards paid in full each month |
How does your net worth compare?
Medians are the middle family: half have more, half have less. Averages run far higher because a few very wealthy families pull them up, so compare with the median.
| Age of main earner | US median, 2022 |
|---|---|
| Under 35 | $39,000 |
| 35 to 44 | $135,600 |
| 45 to 54 | $247,200 |
| 55 to 64 | $364,500 |
| 65 to 74 | $409,900 |
| 75 or older | $335,600 |
| All US families | $192,900 |
Source: Federal Reserve, Changes in U.S. Family Finances from 2019 to 2022 (Survey of Consumer Finances), table 2, 2022 dollars. The mean for all families was $1,063,700.
In Canada, Statistics Canada’s Survey of Financial Security puts the median net worth of Canadian families at $519,700 in 2023. Families whose main earner was under 35 had a median of $159,100, up 179% since 2019 (Statistics Canada, The Daily, 29 Oct 2024, 2023 dollars). The two surveys use different definitions and currencies, so read each against its own country.
Below the median is common, and a negative figure is normal with student loans or a recent car loan. The single number matters less than its direction from one month to the next; see tracking net worth over time.
From a one-off calculation to a net worth tracker
This calculator gives you today’s figure. To see it move, you need the same sum on the same day every month. A net worth app does the adding from balances it already has.
- 01Everything in one total. Finman adds up your accounts, investments (priced from Stooq quotes), savings goals and manual assets such as property, and subtracts debts at their remaining balance.
- 02Several currencies. Each account keeps its own currency and the total converts to your base currency.
- 03History. “Save snapshot” stores the result, and the snapshots build a chart showing which months pulled the number down and which pushed it up.
- 04Price. Free during the open beta, with no card. After the beta the net worth tracker stays on the Free plan.
Enter it once, update it in minutes
Import a statement file from your bank or type balances in, add your property and debts, and save the first snapshot. Next month’s figure is one click.
Get Started FreeFrequently asked questions
How do you calculate net worth?
Add up the current value of everything you own, add up the full balance of everything you owe, and subtract the second total from the first. Net worth = total assets minus total liabilities.
Should I include my home in my net worth?
Yes, at a cautious estimate of what it would sell for today, with the full mortgage balance on the liabilities side. Use the same valuation method every time so changes in the total reflect real progress.
Do retirement accounts count toward net worth?
Yes. RRSP, TFSA, workplace pensions, 401(k) and IRA balances count at their current value. They are left out of liquid net worth, which only counts money you could reach within days.
What is a good net worth for my age?
A reference point is the median. In the US Survey of Consumer Finances, median family net worth in 2022 was $39,000 under age 35, $135,600 at 35 to 44, $247,200 at 45 to 54 and $364,500 at 55 to 64. In Canada the median family net worth was $519,700 in 2023, and $159,100 where the main earner was under 35.
Can net worth be negative?
Yes. It is common early on with student loans or a new car loan, when debts are larger than what you own. The number to watch is the direction from one calculation to the next.
Is there a net worth calculator app that updates automatically?
Finman does this. It adds up your accounts, investments, savings goals and property, subtracts your debts, converts every amount to your base currency and saves snapshots for a history chart. The net worth tracker is free during the open beta and stays on the Free plan afterwards.
Are the numbers I enter saved or sent anywhere?
No. The calculation runs in your browser and the figures you type are not sent to Finman or stored. No account is needed.
A planning tool, not personal financial advice. Updated .
See the trend, not just today’s number
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