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July 2011 net worth

July 2011 Financial Security Index » Net Worth

Q:

Please think about your net worth, or your total assets including any real estate equity minus your debts. Compared to 12 months ago, is your net worth:

Age is an inverse predictor, with one-third of those under 30 saying their net worth is higher versus 12 percent of those 65 and older.
At 29 percent, those ages 50 to 64 were most likely to say their net worth was lower.
Among subcategories, respondents with household incomes of $75,000 and above were by far most likely to report higher net worth, at 39 percent.

Justin Krane

"Many people are now realizing that the growth in their net worth may have to come from their careers."

People who have investment portfolios should be feeling pretty good. If the only equity they have is in their homes, they are most likely concerned about their financial well-being. But many people have given up on investing in the stock market. The returns from the past 10 years have been relatively low. Additionally, home prices seem like they are still trying to find a bottom. Many people are now realizing that the growth in their net worth may have to come from their careers. That means people are taking a more active role to try and earn their way out of this.

- Justin Krane, president, Krane Financial Solutions, Los Angeles

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Posted: July 25, 2011

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