Skip to content

What If You Had to Sell Everything You Own?


This would be a bit of a strange scenario, but think about it for a minute. If you were required to sell everything you own, how many dollars would you be left with in the end? You would sell your house, your car, your snow-blower, your diamond earrings, and even your exercise equipment. Yep, everything. After paying all of your debts on these assets (because very few of us own our homes and cars free and clear), how much cash do you truly have? Do you have $1,000? $10,000? Or 100,000?

With that number in your head, do you know what you just calculated? You calculated your net worth. Simple huh? If you take all of your assets and subtract your liabilities (in other words, your debt on these assets), then are left with your equity, or net worth. According to Forbes, here is the breakdown of the average family net worth:

  • Age 45 to 54: $117,900
  • Age 55 to 64: $179,400
  • Age 65 to 74: $206,700

Before you start grinning about how great you are doing in life, keep in mind that this is the average, and you certainly don’t want to be average in today’s instant-gratification-nobody-saves-any-money-for-the-future society. You should most certainly be set to have double, or probably even quadruple these average numbers.

Weekly Round-Up

Today is Sunday, which means I get to tell you about all of the other great articles out there. Here are some of the best articles of the week:

How to Overcome Being Tired of Paying Off Debt by Narrow Bridge Finance

Free Trustworthy Resources for Investors by 20’s Finances

How to Get Into the Stock Market by Prairie Eco Thrifter

Our Best and Worst Purchase of 2013 by KNS Financial

So You’re Thinking About Quitting Your Job and Travelling Around the World by Financial Samurai

It’s Time to Cut the Cable and Home Phone by i Heart Budgets

From Zero to Hero and Back Again, Twice! by Debt Round-Up

The Road to Saving Half – How to Define Savings by Frugal Portland

Four Easy Ways to Save Money During College – by A Young Pro

5 Ways to Save $50 Plus Per Month by Saving Money Today



My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.


  1. It’s a bit scary that the average net worth values are so low. The 65-to-74 bracket are mostly retired, and all they have in net worth is $200k. It is way better than nothing, but 4% annual withdrawals would only give them $8,000/year or $667/mo. Add that to the average Social Security payment of $1,247 plus $648 going to the spouse (from, and you have a total average monthly income of $2,562, or $30,744 per year. That’s barely above the poverty level in California of $29,420 for a family of two.

  2. Oh this is too good to pass by.
    If I sold the camper I live in with the hole in the floor by the back door. The kitchen sink that will cost me $300 to remove the holding tank to unclog it. The faucet that leaks. The propane fridge….the electric fridge is outside. My raggedy torn summer dresses. My crocs shoes…My air filter….nothing I have nothing….so I’d get nothing. I’d keep my laptop though, sorry.
    (no vehicle, I take the bus)

    • Hi Lisa. I’m sorry to hear about your current situation. Is there anything I can help with?

  3. With the kind of lifestyle I have right now, I am not really sure if my net worth would be that big. But I do hope to increase it in the next few year. My partner and I are working hard on it.

    • That’s ok Jeremy, as long as you’re on the right track moving forward. Just remember that some of the wealthiest people today are the ones that just never increased their lifestyle, even though their income increased severely. Follow that plan and you’ll be right there with them!

  4. I keep trying to get rid of stuff at good will, but I can never gather enough to fill a garbage bag. i guess I don’t have much and can happily pack everything I’d like in a suitcase.

    • Same here FS! It’s nice to not have a bunch of junk, especially if you have to move someday.

Comments are closed for this article!

Related posts