What’s My Net Worth?

Have you ever Googled a celebrity’s net worth? 

Like just browsing the internet, or watching Real Housewives and wondering, “How much money do those people have?” 

I’ll admit I’m guilty of doing this occasionally, even though I know it is hilariously inaccurate. And, as a business owner and public figure who speaks on financial literacy topics, I imagine some people even Google my name and my net worth, so, I’m going to share what my net worth is here and now. 

My net worth is…


That’s right. It’s not a number, because everyone’s financial situation, mine included, changes ALL. THE. DAMN. TIME. 

Net worth is a fairly straight-forward calculation: 

Assets (like the money you have in the bank and the things you own)  Liabilities (like the amount left to pay on your mortgage, auto loan or other debts) = Net Worth 

So, if you are working everyday or having your money work for you, while not taking on liabilities, your net worth grows constantly! Or if something you have suddenly gains or loses value, guess what – your net worth just changed.

These changes can be drastic, especially when there’s a lot of eggs in one basket. For example, Amazon founder Jeff Bezos net worth grew more than $67 billion over the course of one year, because Amazon stock soared and as a major shareholder, his worth soared along with the company. 

But, this is a topic we need to cover because unfortunately the typical 40-year-old millennial has more debt and a lower net worth than their parents. A statistic that I think is incredibly important to address. Many of us are worried about how much money is in the bank, but truly wealthy people aren’t focused on the liquid dollars sitting in a bank, they are focused on growing their wealth, not bank account. 

For me, that often means re-investing the income that I generate into things that will keep the growth moving. For example, if I receive dividends from the shares that I own of Apple I could do one of two things:

1. Spend those dividends on something fleeting; like getting my nails done or the cutest baby clothes I can find. These purchases add absolutely nothing to my net worth. 

Are they nice-to-have things that sometimes deserve to be splurged on? Absolutely.

Should they be where all my income goes? Absolutely not.

2. Reinvest those dividends; like right back into the same performing investment that earned me the dividend in the first place. This decision buys me more shares, which is an asset that DOES increase my net worth. 

So, as often as possible I try to look at the money I earn through the lens of – will this go towards expenses, like the costs associated with just living (looking at you groceries), or will this go towards something that increases my assets. 

Grow Your Net Worth 

The path towards increasing your net worth is aligned with the formula to calculate it (assets – liabilities) so by focusing on increasing your assets while eliminating your liabilities (AKA DEBT!) you’ll be working towards growing your net worth constantly.

Increase your assets!

I know that increasing your assets is easier said than done. Some tips for increasing your assets include:

  • Start earning more money through a side hustle! Sometimes side hustles can even replace or double the income from a full-time job!
  • Find ways to detach your income from time, like hourly jobs. By making your money work for you, like investing, you don’t have to be physically working to be earning.
  • Take a free investing masterclass to learn to make money work for you! Head over to this link and take my most popular class for free, anytime. [need link to evergreen webinar here]
  • Don’t burn money on stupid stuff – those trips to Starbucks may not cause debt but they also don’t increase your net worth – compound and invest that money to see your financial worth skyrocket. 

Eliminate your debt! 

If you’ve ever experienced the rush of paying off a loan or credit card, you know that eliminating debt is a wonderful feeling. Not only does it feel good, but every dollar of debt you eliminate is another dollar not deducted from your assets to calculate your net worth. 

Some of my top tips for eliminating debt include: 

  • Get comfy with what you owe. Yes, it sucks to sit down and look at the cumulative amount you may owe to multiple creditors, from credit cards to loans for homes, cars, college and more. But, you have to look at everything together and focus on paying off the things with the highest interest rate first while maintaining minimums on the others.
  • Pay what you can, not the minimums. If you can afford to pay more than your minimums – DO IT! This prevents additional interest from compounding and helps you reach your goals faster.
  • Avoid taking on more debt. I get it – life happens and sometimes that means having to resort to paying living expenses with credit cards or taking out a line of credit to fix your roof. Sometimes, debt is unavoidable. But, so often it is completely avoidable. Don’t use these emergency moments as an excuse though. If you have to go into debt for something, first see if you can find another option, avoid the expense or find more affordable options. 

Always remember that net worth isn’t a number to obsess over, but you should have an understanding of what yours is at any moment. To learn more about net worth and the ways in which you can increase yours, join me on my next free, live investing masterclass!


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