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The average American's net worth is approx. $37,000.
Net worth is:
All your assets (bank account balances, stocks, bonds, accounts receivable, cold hard cash, the value of your physical possessions, such as cars, houses, jewelry, expensive clothing, computers. etc.)
MINUS
All your debts and liabilities (this includes credit cards, mortgages, car loans, personal loans, torts you've committed against another person, etc.).
For example, if you have $50 in the bank, $20 in your pocket, no stocks, no bonds, no accounts receivable, and you have a house that is worth $100,000, and a car that is worth $20,000.
You have $60,000 in outstanding mortgages, $5,000 for your car loan, and $4,000 in credit card debts, and $11,000 in student loans,
Then, you net worth is $40,070.
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