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Net worth is important, but it may cause you to be more comfortable than you should be.
In a recent video on his YouTube channel,Kamel broke downthe typical Americans net worth by age.
He also explained one thing thats more important thannet worth.
What Is Net Worth?
Your net worth is the total of everything you have.
Knowing your net worth can be useful because it indicates where you are financially.
Net Worth and Age
In general, your net worth will grow as you age.
Age brings more work experience, income opportunities and time for gains to compound on your investments.
Kamel said you shouldnt obsess over whether youre above or below the median net worth for your age bracket.
Kamel suggested focusing on specific financial ideas.
According to Experian, totalcredit card debtsurpassed $1 trillion nationwide in 2023.
One thing that Kamel warned against is lifestyle creep.
Lifestyle creep is adjusting your spending to match your income.
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