The following benchmarking metrics allow you to compare your financial accomplishments and progress in a variety of areas with other members of the Family Inc. community. However, be aware that Family Inc. members do not fit the profile of average Americans –they are different in many important ways.
In summary, you are benchmarking yourself against a very competitive group of peers: an educated, accomplished, ambitious and knowledgeable group who value financial security and independence and are willing to invest time and effort to “win the financial game of life.” Benchmarking yourself and your family against this very accomplished group allows you to determine how you are performing financially; where you are excelling and where your financial plan can be improved relative to other smart, accomplished people. Welcome to Family Inc!
Labor is the largest asset for most Family Inc. members averaging over $3 million. This value is impacted not only by today’s earnings, but also expected future earnings, taxes and remaining work capacity.
Note the significant difference between the median and mean for investment assets. The mean in skewed by Family Inc. members who have accumulated significant financial assets. The more wealth a person has, the faster it generally grows given that both your financial and labor capital are generating significant income.
The Family Inc. community averages $212,000 in debt and is heavily weighted to tax deductible fixed rate mortgages used to purchase real estate. This is a prudent use of debt.
o Financial Net Worth: Note the significant difference between the median and mean. The mean in skewed by members who have accumulated significant wealth. The more wealth a person has, the faster it generally grows given that both your financial and labor capital are generating significant income.
o Family Business Net Worth: Mean and Median Family Business Net Worth are $4.1 million and $2.9 million respectively. This represents the most holistic measure of wealth and includes all of the assets (to include labor an social security) you have at your disposal to achieve financial security.
o Asset Composition: