Calculate Your Net Worth
Track your financial health by adding up all your assets and subtracting your liabilities
Assets A$0
Liabilities A$0
Average Net Worth by Age in Australia
Age Group | Median Net Worth | Average Net Worth |
---|---|---|
Under 35 | A$76,400 | A$241,300 |
35-44 | A$320,600 | A$568,000 |
45-54 | A$506,100 | A$944,900 |
55-64 | A$655,300 | A$1,234,700 |
65-74 | A$563,900 | A$1,272,000 |
75+ | A$503,300 | A$953,300 |
Source: Australian Bureau of Statistics (ABS) Household Income and Wealth Survey (most recent data)
Tips to Improve Your Net Worth
- Pay off high-interest debt first - Focus on credit cards and personal loans.
- Build an emergency fund - Aim for 3-6 months of expenses.
- Boost your super contributions - Consider salary sacrificing or making after-tax contributions.
- Invest consistently - Dollar cost average into diversified ETFs or managed funds.
- Review property options - Consider if property investment aligns with your financial goals.
- Optimize tax strategies - Understand negative gearing, capital gains, and super tax benefits.
Understanding Your Net Worth
What Is Net Worth?
Net worth is the difference between what you own (assets) and what you owe (liabilities). It's a snapshot of your financial position at a specific point in time.
About Assets
Assets are things you own that have monetary value. They include cash, investments, property, superannuation, and personal possessions that could be sold for cash.
About Liabilities
Liabilities are debts or obligations you owe to others. These include home loans, credit card debt, HELP/HECS debt, car loans, personal loans, and tax debt.
Why Track Net Worth?
Tracking your net worth over time helps you measure financial progress, identify areas for improvement, and make better decisions about saving, spending, and investing.