How much money you need to earn to cover expenses and save for the future comes down to understanding your net worth and your goals, according to Paul Deer, a Boulder, Colorado-based certified financial planner and vice president of advisory service at Personal Capital.
Your net worth is essentially the sum of all of your assets — including cash, retirement accounts, college savings, house, cars, investment properties and valuables such as art and jewelry — minus any liabilities, or long-term debt, such as a mortgage, student loans, revolving credit card balances and any other personal loans.
"First and foremost, is your net worth growing or shrinking over time?" Deer said. If your net worth has been declining, it's important to work on saving more and spending less. From there, consider the milestones you want to achieve going forward, Deer said, whether that's retiring, buying a home or paying for your child or grandchild's education.Most people agree that they need to cut costs to build up their savings, and yet reports show consumers haven't pulled back on food, entertainment or travel.
You did it, Joe!
That’s why you should own visa stock right now
Biden’s fault
But . . . inflation is transitory! We built back better! No one is getting laid off! We have an oversupply of everything including diesel!
Thanks for voting!
With housing out of reach and mortgage rates high, they likely don't care about their credit scores anymore.
They are waiting for Biden to write everything off! Way to go Joe
Riden With Biden !!!!!Get on that Train ..
People will have to cut spending. But we are also seeing more monthly payments put on credit cards, phone, cable and utilities are all on cards now. One area that needs to see a big cut is self storage units. Those units are full of junk and the industry has seen big building
Homeowners are spending the equity in their homes, and will re-fi as soon as interest rates fall back.
TechCheck Why wouldn’t they run up their personal debt? Daddy Biden will bail them out.
You mean inflation wasn’t transitory?
Biden has destroyed America in just 20 Months 🧐🙄
All federal taxes should be made voluntary so Americans can choose which has more value, food, electricity and gas or corrupt federal agencies
I’ve seen this movie before but it involved houses
but the leftists claim there’s no recession…
Another Biden achievement.
Thank you Joe Biden! Please raise more rates way higher so people are forced to die!
Do you BIDEN see this at all! Does it even have a wake up call! Do you even know what impact its having on US. American PEOPLE!
Good job joebiden supporters
“Here’s the deal” it’s cornpop’s fault
Just like the Government deficit.
Millions sent to Ukraine every couple of weeks for more than a year! 😡😡😡😡
This is bullish.
People can't afford this Biden economy.
Wow…shocking news…just hearing it for the first time..
Biden - can you do us a solid and forgive my credit card debt? But please wait until I do my holiday shopping.
All because of POTUS and the money that was printed and fed into the economy.
When families can't afford to pay for groceries with cash, what did you expect to happen?
“We’re building back better, Jack!”
Vote blue no matter what. Lol
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