This Is The Average Net Worth (How Do You Stack Up?)

[@CDMaclintock]

I'm a "Renter", with NO debt, I have $250,000 in cash, possessions worth $20,000, and I'm saving $3,300 every month....

[@Netizen_101]

Cash? Why?

[@lombardo141]

Good job 👏

[@CDMaclintock]

@@Netizen_101 Actually, $200,000 of my "cash" is in physical Gold & Silver....

[@ScottUlmer]

That much cash seems bad. If you're risk adverse I get it, but cash simply loses value overtime. Unless that's somehow 6 months of expenses I would look to invest it.

[@jayocean4724]

250k in cash congrats! This person probably is a very high earner and this gives them 1-2 years of cash reserves. Everyone's situation is different. Most banks ensure you up to 250k and as long as it's in a HYSA and not a regular bank it should be ok for them.

[@HectorWhitney]

To attain upper-class wealth, a wise individual recognizes that building financial success requires smart investments, strategic tax planning, and informed decision-making. Although the stock market offers growth potential, effectively seizing these opportunities demands both skill and expertise.

[@JohnSmith060]

Stock investments can offer great potential, but it's essential to approach them with caution. I recommend consulting a financial advisor who can help you determine the optimal times to buy and sell.

[@ClarkeGriffiny7]

Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.

[@ScottKindle-bk3hx]

How can I reach this advisor of yours? because I'm seeking for a more effective investment approach on my savings

[@ClarkeGriffiny7]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Sophia Maurine Lanting for about 4 years now, and her performance has been consistently impressive.

[@ChristianKelv]

I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

[@richardross7219]

A house can be a good investment but, it has a lot of risks. As a town engineer, I've seen many houses become nightmares for people for many reasons. The stupidest was balloon payments and over extended on loans. The sadest were fraudulent titles to the land and very poorly built houses. Be careful when buying.

[@sanitary103]

Those risks you mention are a result of ignorance and stupidity along with dishonest money hungry banks, loan officers, realtors etc. for the most part, real estate can be a wonderful investment.

[@richardross7219]

@@sanitary103 There are many risks involving zoning laws, sanitary regulations, bad surveys, and poorly built houses. This includes badly built driveways. I have seen atleast 6 cases of people buying "lots" that they thought that they could build on. The lots were actually "unbuildable" for various reasons. With care and luck, real estate can be a good investment. I bought my land 38 years ago. It turned out to have problems so it took me 13 years to build the house myself. Buying to rent out, in my state, is very risky because the state is always against the owner and on the side of the renter. A bunch of friends got into that in the 1980s and ended up losing everything in the market crash of the late 1980s. Good Luck, Rick

[@sanitary103]

@ great points.

[@Andreavince-v]

I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024.,..

[@DanielleB.Wooten]

Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert

[@KarenJ.Mancia]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.

[@StephanieG.Augustus]

How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?

[@KarenJ.Mancia]

Stacy Lynn Staples is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@heatherj-o5j]

These are extremely useful rules for anyone looking to grow rich. Unfortunately, the majority of individuals that see this video will be unable to implement the ideas. We may not like to acknowledge it, but as Warren Buffett famously stated, investing is like any other profession: it takes a certain amount of knowledge. It's no surprise that some people are losing a lot of money during the bear market, while others are profiting by hundreds of thousands. I'm just not sure how they do it. I now have around $570k to invest in the market.

[@leonadams1053]

Yeah rents go up but so does the cost of ownership. Taxes, insurance and the cost of repairs go up every year. Try replacing a roof.

[@Financefunandfitness]

Roof cost me $8k for a complete tear down and install new including 2 skylights in 2016 on a 1400 square foot house, probably $12k now for same job

[@AlexA-xs1wj]

Exactly. People who talk about rent going up never account for why rent goes up. Those same costs will rise (albeit not at the same rate) when you own as well. The cost is just transferred to whoever is renting. There's also repairs and maintenance that can cost as much as 10% of the house at at time.

[@Netizen_101]

Roof is a once every 10-15 year expense though, spread that out in the timespam, that’s about $500-$600 a year.

[@Dave-sw2dm]

If you have to hire others to do everything around the house you may be better off renting but in my case I never had a mortgage payment over $680 a month including escrow for property taxes and home insurance. The rent on that house would be $2000 a month now. I can cash out $400,000 if I sold and moved into a smaller house in a lower cost area.

[@Netizen_101]

@ depends. If I can reallocate the time to make more money, then outsourcing isn’t an issue. OR if it’s worth more qualitatively, it’s worth it. At the end of the day, budget for it and either way it’s all gravy.

[@marlon82mc]

Thanks for reiterating that the value of your primary residence IS INCLUDED in the net worth calculation.

[@ChrisInvests]

@@marlon82mc absolutely

[@Netizen_101]

Including only the purchase price of my property, I’m lucky enough to be above the mean. I only care about my investment number, I can’t liquidate real estate without substituting another place to live. Besides, can’t live off that for FIRE.

[@KPad87]

37 with a net worth of 890k . Own 1 house and most of my other assets is in 401k and brokerage account .

[@ChrisInvests]

@@KPad87 great job 👍

[@cashflow68]

In California, majority of homeowners are millionaires if you include their primary residence as net worth.

[@Netizen_101]

Is it though? Only the equity is included, so you mean to tell me most have a paid off million dollar home?

[@Mrdeetorres83]

@@Netizen_101 @cashflow68 Only 18% in CA have paid off their home. It’s the equity that homeowners gain over time living in a house that makes the net worth so much higher because if you can sell the house, it’s money in your pocket minus somewhere to live. Some people say don’t count your primary house as your net worth b/c you may never move.

[@IrisP989]

@@Netizen_101 Why can't someone with a mortgage still include their home in their net worth calculation? There is still equity. Also, cash in the bank, retirements, investments, etc. are included too.

[@Dave-sw2dm]

@@Netizen_101, no, they bought the home 30 years ago when it was $100,000 and paid it off in those 30 years. It is now worth 1.2 million dollars.

[@Netizen_101]

@ I didn’t say don’t include equity. In fact, they should ONLY include equity. My point is, if houses in California cost a mill, unless everyone has a fully paid house, not majority of them are millionaires.

[@Stormy5533]

Owner of 2 Homes. $1.2M combined, but $600,000 mortgages combined. Net worth +$600,000. Renter pays me with + Cash Flow.

[@marlon82mc]

The median is not a type of _average;_ it is the *MIDDLE* number in the range.

[@ChrisInvests]

@@marlon82mc ok www.dummies.com/article/academics-the-arts/math/pre-algebra/the-three-types-of-average-median-mode-and-mean-168773/

[@FaintAura]

Homeowners have better financial habits than renters? Huh?

[@Netizen_101]

Psychologically I can see someone being more cognizant of their spending to not jeopardize their home ownership than renters. There’s more at stake in ownership and more often than none occupied by families with children.

[@albundy7794]

Negative $45k-ish here. It's a race to zero for me.

[@tbonafied1742]

Depends on age and income, I’m 45 and have just started to see somewhat impressive net worth, if you are young, this stat is essentially pointless, my wife and I were negative for a while early on, but spending below your means and time (years) make all the difference.

[@handleyobusiness]

That’s still better than a lot of people.

[@Erokk1988]

Great content!

[@ChrisInvests]

@@Erokk1988 thanks for watching!

[@chrisphilips2768]

This video shows that most Americans who work for living are well off financially and doing very well in life

[@IrisP989]

Is it valid for a household with one working spouse? Our net worth is 7 figures with 2 homes (2 mortgages), investments, retirement, etc.

[@TripSoul10]

Above the median by a few thousand currently. The mean number like to get to in 10-15 years with help from compounding interest and other factors.

[@ChrisInvests]

@@TripSoul10 you'll get there 👍

[@darbyohara]

There are NOT multiple forms of average. Mean is the average Median is not

[@ChrisInvests]

@@darbyohara ok www.dummies.com/article/academics-the-arts/math/pre-algebra/the-three-types-of-average-median-mode-and-mean-168773/

[@Aisha_babii]

Renter here with a six figure net worth and 780 credit score 😂 this video seems a lil biased

[@LilT2o00]

Mine is a negative figure. I'm worth more dead than alive

[@ryantsui2802]

But you can work and produce when you are alive, which is why you can get loans to go negative.

[@LilT2o00]

@@ryantsui2802 i don't qualify for loans anymore lol; uncle maxed out two of my credit cards to start a business then died before he could pay them off; both went into collections lol haven't been approved for anything since; I can only get w/ the cash i have on hand/in the bank

[@ScottUlmer]

Is there a bounty?

[@MrSpamfriedrice]

@@ryantsui2802 I’ve heard this a few times, jokingly. Many people have life insurance that can pay out hundreds of thousands if not millions.

[@albundy7794]

@@ScottUlmer This person has a negative net worth. Wth are they going to pay you in...IOU's?

[@pjabrony8280]

I have less than the mean but more than the median.

[@TheFirstRealChewy]

I'm worth less.😅

[@StanleyBeeMilitaryKnowledge]

I have saved 100000$

[@robedmund9948]

Many people complain that a mortgage payment is higher than a rent payment. But they fail to see that the difference can be made up easily by cutting the lattes, the dinners out, and other unnecessary items. But they would rather live the YOLO life and hope someone saves them when tomorrow comes. And yes! Tomorrow WILL come for the vast majority of us.

[@jayocean4724]

Home ownership is almost always higher than renting especially in higher cost of living areas. Depending on wages that could mean savings for decades for a loan. Some people aren't living above their means they are just trying to survive

[@jayocean4724]

Rent is the Most you will pay monthly where as a mortgage is usually the Least it doesn't account for maintenance, HOA fees, repairs, insurance and property taxes.

[@williesimmons4068]

eating out and lattes definitely impact my savings more than I'm ready to admit.

[@robedmund9948]

@@williesimmons4068 Most of us hate ad nit it. ;)

[@Netizen_101]

It’s actually quite true NOW - I read that renting is actually 45% cheaper on average, just because of the interest rate and home prices. If you secured it COVID or prior, you’re the exception.

[@daborahgermanstavolkmunte]

!!I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks or Crypto will be appreciated.

[@OdessaYeva]

As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

[@DivaHarrison]

I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.

[@OdessaYeva]

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.

[@DivaHarrison]

Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analysing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience..

[@daborahgermanstavolkmunte]

how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally.. What's your take on this approach? and How can i reach her, if you don't mind me asking??

[@lovingcareheatingandair6794]

MINE SHOULDN’T BE A CONCERN TO ANYONE, THANK YOU VERY MUCH.

[@13teens93]

Should be a concern to yourself 😎

[@AlexA-xs1wj]

You could've just not commented and it would've had the same effect.

[@lovingcareheatingandair6794]

@@AlexA-xs1wj - SAME, BUT THANKS ANYWAY.

[@billy2807]

I get what you're saying. I don't think anyone is looking for YOURS, specifically. I think the aggregate numbers and anonymous stats are designed to let each person know how they themselves are doing as compared to everyone else. Just as a gauge. But if you don't want to tell anyone, don't tell anyone! I don't.

[@Netizen_101]

Don’t really think anyone’s “concerned” about it.

[@jamesoakes4869]

Mine is 1.8 million.

[@mikesolomon2636]

Twinsies! Mines 1.8 thousand!

[@jamesoakes4869]

@ at least it’s not negative

[@maness2112]

That's all?

[@jamesoakes4869]

@@maness2112 I’m trying to get more. It’s tough. Once you hit one million, it speeds up.

[@jamesoakes4869]

I have five rental houses and two that I’m flipping. I already flipped one and made 81000 net profit. Will probably make about 70000 on the next one and about 40000 on the third one. My goal is to do two per year. With real estate sales, rentals, flipping and should be near 300k per year. No car payments, no credit cards, no student loans. I should be able to hit four million in a few years. I drive a 10 year old Camry and a twenty year old Lexus. House is a little 650 thousand which is nearly paid off.