As this article from CNN/Money points out, you can’t plan your trip without knowing where you are at the moment. That relates to your financial plan, as well. Every once in a while, take a look and estimate your net worth. That will help you figure out what you need to do to get to whatever your goals happen to be.
According to the first chart supplied by the article, I am doing well for my age group. My net worth is significantly higher than the average for my range.
However, the next table (not pictured here) paints a different picture by going by salary range. Theoretically, individuals in my salary range have been there for a while and have had time to build up their net worth to try to beat that average. Maybe a year or two would be all I need, but I hope to break into the next salary range soon.
Updated January 16, 2010 and originally published August 11, 2004. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.