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Net Worth Calculator
Your net worth is the value of all of your assets, minus the total
of all of your liabilities. Put another way, it is what you own
minus what you owe. If you owe more than you own, you have a negative
net worth. If you own more than you owe you will have a positive
net worth. This calculator helps you determine your net worth. It
also estimates how your net worth could grow (or shrink!) over the
next ten years.
Definitions
- Home
- Current value of your home. This should be as close
as possible to the actual market value of your home. If
you have owned your home for a number of years, the current
market value could be significantly higher than your original
purchase price.
- Other real-estate
- The value of any other real-estate you may own. Include
second homes, undeveloped land, rental property or any
commercial buildings you may have an interest in. As with
your home, use the actual market value of this real-estate.
- Automobiles
- This is the total value of all automobiles that you
own. Do not include any leased vehicles.
- Other vehicles
- If you own any other vehicles, such as RVs, campers
or collectibles, enter them here.
- Jewelry
- The value of any jewelry, gems or precious metals such
as gold. If you have owned these items for a number of
years they may have appreciated in price, remember to
use the current market value.
- Household items
- The value of your household goods and items. This would
include items such as furniture, home electronics, silverware,
etc.
- Chequing and savings
- The current total balance of your chequing and savings
accounts.
- Registered retirement accounts
- The current total balance of your registered retirement
accounts. This would include RRSPs (term deposits, mutual
funds), RRIFs, Employer Pension Plans, annuities and any
other registered retirement savings you may have.
- Savings bonds
- If you own any Savings Bonds enter the total here.
- Bonds
- If you own any Treasury, municipal, or commercial bonds
enter the total here.
- Mutual funds
- If you own any mutual funds, enter the total here. Do
not include any mutual funds that are in your registered
retirement accounts, they were already included in the
"Registered retirement accounts" line.
- Stocks
- If you own any individual stocks, enter the total here.
Again, do not include any stocks that are held in a registered
retirement account.
- Cash value of life insurance
- Some life insurance has a cash value. This is true for
Whole Life and Universal Life policies. Term Life policies,
on the other hand, have no cash value. If you have life
insurance with a cash value, enter the total here. Remember,
this should be the cash value of the policy, not the amount
paid out if you were to collect on the policy.
- Cash
- If you have any other cash, enter the total here.
- Other
- If you have any other assets of value, you can enter
the total here.
- Home mortgage principal
- This is the current principal balance remaining on your
mortgage. This is the amount that you would have to pay
to own your home free and clear.
- Other mortgage principal
- This is the current principal balance for any other
real-estate mortgages you may have. This includes mortgages
on rental property, undeveloped land, commercial property
or any other real-estate.
- Auto loans
- Total amount you currently have outstanding on your
auto loans.
- Student loans
- Total amount, if any, that you currently owe in student
loans. You should enter the total outstanding even if
these loans are currently in deferment.
- Other loans
- Total amount, if any, of any other loans you may have.
- Credit card debt
- Your total credit card debt.
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