📊 Net Worth Calculator

Net worth = total assets − total liabilities. It's the single most important number in personal finance — it tells you where you actually stand financially, not just how much you earn. Tracking it monthly/annually shows whether you're building wealth or falling behind.

According to Statistics Canada, the median net worth of Canadians under 35 is about $48,000, rising to $234,000 for 35–44 year olds and $690,000 for 55–64 year olds. These are medians — 50% of Canadians are above, 50% below. More important than the number is your personal trajectory — is it growing?

Yes, but with context. Your home is an asset at its current market value, and your mortgage is a liability. The difference is your home equity. However, since you can't live in a liquid asset, many FIRE planners also calculate 'investable net worth' (excluding primary residence) to measure true financial independence progress.

Three levers: (1) Increase income, (2) Reduce expenses (especially debt interest), (3) Invest the difference in tax-advantaged accounts like TFSA and RRSP. Eliminating consumer debt (credit cards, car loans) often has the highest guaranteed 'return' since you're stopping 15–25% interest charges.

A budget tracker monitors monthly cash flow (income vs spending). A net worth calculator is a balance sheet snapshot — it measures total accumulated wealth across all accounts and debts. Both are complementary: budgeting improves cash flow, which then improves net worth over time.