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Money Guy Show

Average Net Worth By Age in 2023!

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 6 January 2023

⏱️ 36 minutes

🧾️ Download transcript

Summary

It’s time for one of our most anticipated shows of the year: our annual Net Worth By Age show! In this year’s edition, we’ll shared updated numbers and data for 2023 and discuss the most important things for you to focus on in each decade. Watch more exclusive content only on YouTube! Visit our website - Get our FREE financial resources - Check out our course, Know Your Number! - Sign up for our Financial Order of Operations course - Get easy to understand answers to your financial questions Follow us on social media! -Instagram -Twitter -Facebook -TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's your favorite annual tradition, net worth by age.

0:04.8

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:11.6

investing, taxes. You've got financial questions, he's got financial answers.

0:17.0

It's Brian Preston, the money guy.

0:20.4

Brian, I am so excited to talk about this. Because we love that we get to do this show every year.

0:27.1

Basically, we talk about, okay, where is the average net worth for someone in your

0:32.9

stratosphere? Then where should your net worth be? Then this year, we have a new something

0:39.7

very exciting. We're going to lay out that.

0:41.4

We're going to hit it hard this year and then we've got some metrics that you're not going to

0:45.5

miss if you're trying to compare and figure out where do you fit in your net worth versus

0:50.8

your peers out there. Here's the thing I like, though, money is a taboo subject.

0:56.1

You're not allowed to go to a fan where you're in or even go around your office and talk about,

1:01.6

hey, how's your net worth stacking up? Because it is the scoreboard of your financial life,

1:06.9

but you're just not allowed to share it that way.

1:08.8

It's the one thing that allows you to know, okay, based on where I'm today,

1:13.3

am I moving closer to my goals or am I ultimately moving further away from my goals?

1:19.2

Now, it is important that we don't focus solely on the scoreboard. Warren Buffett has this

1:24.0

fantastic quote that goes something like this. He says, games are one by folks who are focusing

1:29.2

on the playing field, not the ones that are focused on the scoreboard. So you have to be careful

1:34.0

that you don't get lost in only looking at your net worth statement, but it is important to

1:40.5

periodically check it to know, am I where I'm supposed to be? And am I moving in the direction

1:45.7

that I'm supposed to be moving into? And it's okay if you do it from time to time. And we're

...

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