Asset Management Tools

Track your net worth and create effective budget plans with our comprehensive asset management and financial planning tools.

Net Worth Tracker

Assets

Liabilities

Your Net Worth Statement

Enter your assets and liabilities to calculate your total net worth and understand your financial position.

Understanding Net Worth

Net worth is the difference between what you own (assets) and what you owe (liabilities). It's the most comprehensive measure of your financial health and progress toward financial goals.

Assets typically include:

  • Cash and Cash Equivalents: Checking, savings, money market accounts
  • Investments: Stocks, bonds, mutual funds, ETFs, retirement accounts
  • Real Estate: Primary residence, rental properties, land
  • Personal Property: Vehicles, jewelry, collectibles, furniture
  • Business Interests: Ownership stakes in businesses

Liabilities typically include:

  • Mortgage Debt: Home loans, home equity lines of credit
  • Consumer Debt: Credit cards, personal loans
  • Vehicle Loans: Auto loans, motorcycle loans
  • Student Loans: Educational debt
  • Other Debts: Medical debt, tax liens, business loans

Net Worth Benchmarks by Age

While everyone's situation is different, here are median net worth figures by age group (Federal Reserve data):

  • Under 35: $13,900
  • 35-44: $91,300
  • 45-54: $168,600
  • 55-64: $212,500
  • 65-74: $266,400

Budget Planning Guide

Creating an Effective Budget

A budget is a plan for how you'll spend your money each month. It helps ensure you're living within your means and working toward your financial goals.

The 50/30/20 Rule

This popular budgeting framework allocates your after-tax income as follows:

  • 50% for Needs: Housing, utilities, groceries, transportation, insurance, minimum debt payments
  • 30% for Wants: Dining out, entertainment, hobbies, subscriptions, shopping
  • 20% for Savings & Debt Repayment: Emergency fund, retirement, extra debt payments

Zero-Based Budgeting

With zero-based budgeting, you assign every dollar of income to a specific category until your income minus expenses equals zero. This method ensures every dollar has a purpose.

Essential Budget Categories

Fixed Expenses
  • • Rent/Mortgage
  • • Insurance
  • • Loan Payments
  • • Subscriptions
Variable Expenses
  • • Groceries
  • • Utilities
  • • Transportation
  • • Personal Care
Savings & Investments
  • • Emergency Fund
  • • Retirement (401k/IRA)
  • • Short-term Savings
  • • Investment Account
Discretionary Spending
  • • Entertainment
  • • Dining Out
  • • Hobbies
  • • Shopping

Budget Success Tips

  • Track everything for a month to understand your spending patterns
  • Use budgeting apps or spreadsheets to monitor progress
  • Review and adjust monthly based on actual spending
  • Build in flexibility with a miscellaneous category
  • Automate savings to pay yourself first
  • Start small and gradually optimize your budget

Asset Allocation Strategy

Diversifying Your Investment Portfolio

Asset allocation is how you divide your investments among different asset classes (stocks, bonds, cash) to balance risk and return based on your goals, risk tolerance, and time horizon.

Common Asset Allocation Models

Portfolio Type Stocks Bonds Cash Risk Level
Conservative 30% 60% 10% Low
Moderate 60% 35% 5% Medium
Aggressive 80% 15% 5% High
Very Aggressive 95% 5% 0% Very High

Age-Based Asset Allocation

A common rule of thumb is to subtract your age from 100 to determine your stock allocation percentage. For example, a 30-year-old might have 70% stocks and 30% bonds.

Rebalancing Your Portfolio

Over time, market movements will shift your asset allocation. Rebalancing involves selling some investments and buying others to return to your target allocation. Consider rebalancing:

  • Annually or when allocations drift more than 5% from targets
  • When making new contributions to investments
  • During major life changes or goal adjustments
  • In tax-advantaged accounts to minimize tax implications

Beyond Stocks and Bonds

Consider diversifying further with:

  • International Stocks: Developed and emerging market exposure
  • Real Estate (REITs): Real estate investment trusts
  • Commodities: Gold, oil, agricultural products
  • Alternative Investments: Private equity, hedge funds (for accredited investors)