I haven't done an update on stories dealing with the topic of new worth for awhile, so I thought I'd cover several today. Here they are, each with a brief summary:
- Microlending offers hand up asset ladder -- New Fed data show some signs the wealth gap is growing: the median net worth (gross assets minus liabilities) of non-Hispanic white families rose 6% to $136,000 between 2001-2004 but was basically flat for African-Americans at $20,000. Research has shown that African-American and Hispanic families have lower rates of homeownership and hold fewer financial assets, such as stocks. At least 10 million people have no bank account, including many Hispanics.
- Losing Retirement by Degrees -- As we've seen, the difference between public and private school tuition is substantial. A similar difference also exists for tuition at in-state and out-of-state public schools. For students from high net-worth families and National Merit Scholarship winners, if a private or out-of-state public institution seems like the right match, go for it! Otherwise, families should think long and hard about the true benefit of that excess expenditure.
- Northern Trust Study Highlights Market Trends in 2006 -- A landmark new study of 1,014 U.S. high net worth households' attitudes toward the market by Northern Trust, one of the nation's largest private wealth managers, highlights the areas of concern, as well as glimmers of optimism among affluent investors.
- Welcome to the Bill Gates Net Worth Introductory Page -- This is the new introductory page for the Bill Gates Net Worth Page. You must go through this page to reach the main page.
- Donald Trump Sues for Defamation: Is His Net Worth a Fact, or a Matter of Opinion? -- Last week, Donald Trump filed a defamation suit, seeking a whopping $5 billion in damages ($2.5 billion in compensatory damages, and $2.5 billion in punitive damages). In particular, Trump challenges the book's claim that he is not really a billionaire - a claim that makes him out to be both a liar as to this particular fact (for Trump has claimed that he is a billionaire) and, more generally, less competent and truthful in his business than one might otherwise have thought.
- Lujan net worth rises with Cyfred affiliation -- But the year Lujan became an executive with Cyfred, his net worth jumped from about $12,200 to $2.04 million, according to financial documents on file with the Guam Election Commission. Cyfred is the developer of the troubled Gill Baza subdivision.
For those of you more interested in growing your net worth than reading about the net worths of others, here are some posts that you'll want to review:
I am very confused by various definitions of net worth. What is counted? I don't have a savings account and my pay goes into my checking where it is used up right away so I don't think that really counts. My house, however, is worth around $250,000. So is my net worth the value of my house?
Posted by: Jen | February 18, 2006 at 09:06 AM
Jen --
All your assets (everything you own -- including your house) less your liabilities (your mortgage, any other debts, etc.) equals your net worth.
Posted by: FMF | February 19, 2006 at 05:43 PM