On the first episode of MI$$ FINDEPENDENT, Gloria is joined by her sister and they talk about why she started this podcast, why you should know your net worth and how to calculate it, as well as some statistics on average Canadian and American net worths. Net worth is a snapshot of your financial security at a given point in time and it’s a really good launching pad to help you plan for and keep track of your financial goals.

Homework:
Task 1: Find out your net worth if you don’t know already or if you haven’t calculated it in a while
Task 2: Share this with someone who you think would benefit

Links:

Real property valuation estimates:
Car – Kelly Blue Book
Car – Canadian Black Book
Real estate – Zolo

Net worth statistics:
US Federal Reserve – Survey of Consumer Finance 2016
Statistics Canada – Survey of Financial Security 2016 – Total and median net worth by age and family type
Statistics Canada Survey of Financial Security – Interactive Table

Listen now: