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Net Worth Calculator: What Is My Net Worth?

Net worth is assets (what you own) minus liabilities (what you owe). Our free calculator can measure your net worth.

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Expertise

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Hal M. Bundrick is a former NerdWallet personal finance writer. He is a certified financial planner and former financial consultant and senior investment specialist for Wall Street firms. Hal advised families, business owners, nonprofits and trusts, and managed group employee retirement plans.

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Tina Orem is an editor and content strategist at NerdWallet. Prior to becoming an editor and content strategist, she covered small business and taxes at NerdWallet. She has a degree in finance, as well as a master's degree in journalism and an MBA. Previously, she was a financial analyst and director of finance at public and private companies. Tina's work has appeared in a variety of local and national media outlets.

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Pamela de la Fuente is a managing editor of NerdWallet's personal finance content. She leads budgeting, money-making, consumer credit and and debt coverage.

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Managing Editor

Pamela de la Fuente is a managing editor of NerdWallet's personal finance content. She leads budgeting, money-making, consumer credit and and debt coverage.

Ask her and her talented team about why credit scores matter, how to save money on your grocery bill, finding the right side hustle, how to protect your identity for free and more.

Previously, she led taxes and retirement coverage at NerdWallet.

Pamela joined NerdWallet after working at companies including Hallmark Cards, Sprint Corp. and The Kansas City Star. She has been a writer and editor for more than 20 years.

Pamela is a thought leader in content diversity, equity, inclusion and belonging, and finds ways to make every piece of content conversational and accessible to all.

She is a graduate of the Maynard Institute's Maynard 200 program, and the National Association of Black Journalists Executive Leadership Academy. She is a two-time winner of the Kansas City Association of Black Journalists' President's Award. She was also founding co-chair of NerdWallet's Nerds of Color employee resource group.

What is net worth?

Net worth is the value of all your assets (such as your home, if you own one, your car, and money in savings, checking or retirement accounts) minus your liabilities (such as a mortgage, student loans, car loans or credit card debt).

The formula for net worth is:

Net worth = Total assets - total liabilities

You can think of net worth as everything you own less all that you owe.

» MORE: See the average net worth in the U.S.

There's value in knowing your worth

If you didn't know your net worth before today, you're not alone. Plenty of people don't know their net worth, or don't understand what net worth even is.

"No one wants to admit they don’t know and we’re all afraid of asking the questions we think we’re supposed to know already," Valerie A. Rivera, a certified financial planner and founder of FirstGen Wealth, said in an email interview.

"So instead, everyone stays quiet, sitting in the dark together, thinking they’re the only one," she said.

Let's fix that.

» MORE: This quiz can help you see if it's time to get a financial advisor

NerdWallet Wealth Partners created a free calculator to estimate your financial independence number, see where you stand, and find out how much you might need to close the gap.

NWWP is an SEC-registered investment adviser. Registration does not imply skill or training. The calculator is provided for informational and educational purposes only.

Here's how to find your net worth

To calculate your net worth, take inventory of what you own, as well as your outstanding debt. And when we say "own," we include assets that you may still be paying for, such as a car or a house.

For example, if you have a mortgage on a house with a market value of $200,000 and the balance on your loan is $150,000, your house adds $50,000 to your net worth.

Your income is not part of your net worth

Net worth is a measure of wealth, not income.

"You don’t need a high income to have a positive net worth," Rivera said. "What matters more is spending less than you make, and investing the difference."

"I’ve seen couples earning $500,000 a year with negative net worth because they’re spending $525,000 and racking up credit card debt. Income doesn’t automatically translate to wealth."

On the other hand, even people with modest incomes can accumulate significant wealth and a high net worth if they buy appreciating assets and are prudent savers.

» MORE: Learn the financial independence retire early (FIRE) method

NerdWallet Wealth Partners created a free calculator to estimate your financial independence number, see where you stand, and find out how much you might need to close the gap.

NWWP is an SEC-registered investment adviser. Registration does not imply skill or training. The calculator is provided for informational and educational purposes only.

Assets and liabilities explained

If you’re not sure what constitutes an asset or a liability, here are some guidelines.

Assets:

Money in your checking, savings and retirement accounts. 

Money in 401(k)s and IRAs. 

Your home, if you own.

Investments that you could sell for cash, such as stocks and bonds.

Cars, boats, art, collections and other things you own. 

Land.

Liabilities:

Money you owe to another person or entity.

Mortgages.

Car loans.

Credit card balances.

Medical debt.

Student loans.

Business loans.

Personal loans.

Payday loans and title loans.

» MORE: Calculate how long your retirement savings might last

The bottom line

People don't walk around with their net worth statements in their hands, Rivera said. Because wealth isn’t about what you can show off.

That person you see driving a 12-year-old car? They could have a $4 million investment portfolio, she said.

If you want to grow your net worth, spending wisely and saving and investing regularly can have a big impact, she said. So she encourages people to avoid analysis paralysis and just get started.

"Some clients believe they need to understand everything perfectly before taking action," she said "But waiting too long to invest often delays the compounding that actually drives net worth over time."

» MORE: How to find a financial advisor who can help

Former NerdWallet writer Max Ramirez contributed to this report.