smart spending

24 percent say net worth is higher

January 2012 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:

Twenty-six percent of those 50 and older say their net worth is lower today than a year ago, compared to about 16 percent of those younger than 50.
Nearly 3 in 10 men (28 percent) say their net worth is higher, compared to 20 percent of women.
About 3 in 10 college grads and those with some college say their net worth is higher, but 18 percent of those with a high school diploma at most said the same.
Lisa Fox

"Last year in 2011, the market was basically flat."

I am not surprised by the results. It is in line with what I hear from clients during our discussions. Last year in 2011, the market was basically flat, so therefore, the majority of clients feel their net worth is about the same, not higher and not lower, than a year ago. In addition, real estate values are stable, not increasing by much in the last year. So, while clients may not feel totally secure about their financial future and the state of our economy, they also do not feel less secure than they did a year ago.

- Lisa Fox, CFP, director of financial planning at South Texas Money Management in Austin, Texas

advertisement

Show Bankrate's community sharing policy
          Connect with us
REFINANCE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed refi 3.96%  0.11 4.07%
15 year fixed refi 3.08%  0.09 3.17%
10 year fixed refi 3.09%  0.13 3.22%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.32%  0.03 4.29%
50K FICO-based HELOC 3.98%  0.02 3.96%
100K FICO-based HELOC 3.83%  0.02 3.81%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.75%  0.10 2.85%
48 month used car loan 2.99%  0.06 3.05%
60 month new car loan 3.19%  0.05 3.24%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.99%  0.01 0.98%
2 Year CD 1.22%  0.02 1.20%
5 Year CD 1.87% --0.00 1.87%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.76% --0.00 15.76%
Cash Back Cards 16.44% --0.00 16.44%
Low Interest Cards 11.04% --0.00 11.04%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us