Monday, October 5, 2015

Exploration 5- Jack Ryan


The article that I read was How Rich are You? Find your Net Worth, Spending, and Savings Rate.  The whole point of this article is to show people a rather simple way on how to calculate how much they make, how much they should save and their overall net worth, or how much a person is worth based on income and assets.  I felt that this article was very strong in conveying the purpose that it was going for.  It very easily shows you how to do all these calculations by first explaining them then showing them in a picture like this one. 

   Joe’s Net Worth
Ownership of the Condo: $580,000 – $460,000 = $120,000
Retirement accounts (401(k) + IRA): $50,000+27,300 = $77,300
Student loans, car loan, and credit cards: $-90,000 + $-43,000 + $-8,000 = $-141,000
Total Net Worth: $120k + $77.3k – $141k = $56,300
Where most people may get turned off by this however is simply having to do it.  It can be rather annoying having to go through and find every little thing that you spend money on.  But I firmly feel that it can be well worth it for anyone who wants to get ahead on their finances.

A website that I go to a lot for information is YouTube in particular there is a channel I watch called SmarterEveryDay.  The channel is run by a guy named Destin and what he does is takes things that we see everyday and explains the science  behind them for example he has a video that looks at why bugs are attracted to light.  What is really cool about his channel is that he takes what seems to be really complicated problems and explains them in a way that anyone can understand.  All of his videos are fun to watch and you will most learn something new by watching a few of them.

1 comment:

  1. I think the article you read is an interesting topic. I always catch myself watching tv or something and see a famous person and wonder how much money they're worth and google it in my phone. I think its cool that this offers the same with the more average joe.


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