Financial Health Calculator

Here’s a quick tool to do a health check of yourself financially.  Compare your finances to other households around the same age.

Annual Income : $
Monthly Expenses (Exclude Saving Contributions) : $
Networth : $
Cash (Checking, Savings Acts) : $
Retirement Savings : $
Debt: $

The numbers are based off of the results of the 2012 Consumer Expenditure Survey by the Bureau of Labor Statistics and the 2013 Survey of Consumer Finances by the Federal Reserve. This tool calculates the percentiles by using a +/-5 year range from the specified age and compares the inputs to other househoulds/consumer units who's primary person is within the +/- 5 year range.

4 thoughts on “Financial Health Calculator”

  1. This website is very interesting and easy to use. Thank you for building it. I wonder if the financial health tool has some bugs in it. While playing with it, I kept upping desirable financial health numbers and lowering age and it kept saying normal. For example, a 30 year old with $250k of income, $4k in monthly expenses, $2 million in net worth, $80k in cash, $850k in retirement and $20k in debt comes out with 309 out of 400 points, “about average financially.” That is certainly not me, and I am thinking that over 99% of 30 year olds would trade their financial situation for that scenario–shouldn’t the score and assessment reflect that?

  2. in calculating financial health, it states three categories: networth, cash and retirement savings. my cash and retirement savings are included in my networth how should I address each category?

  3. I believe this calculator compares your answers in each category to averages for your age. It then calculates a single number by assigning points to each answer. This is not very helpful since these numbers all interact. For instance, if you have $500,000 in cash and $100,000 in debt, you are in approximately the same situation as a person with $400,000 in cash and no debt, but the numbers will not be the same at all. So if you want to “optimize” your score, try trading some of your numbers around like this–and maybe you even ought to consider doing so in real life. After all, a person with no debt and $400,000 in cash is actually more secure than one with $500,000 in cash and $100,000 in debt because of uncertain futures. (But I think there are better calculators.)

  4. Quick clarification: does debt include traditional mortgages on the family home? What about stocks not in tax deferred acvoun? Does annual income include vested stock options from an employer?

Leave a Reply

Your email address will not be published. Required fields are marked *