Money Management

Net worth is a common measure of wealth. Find out how your net worth stacks up to your peers’. [[{“value”:”

Are you wealthy? That can be a hard question to answer since people have different ideas about what it means to be rich.

One way to determine where you stand in terms of wealth is to compare your net worth to that of your peers. Your net worth is the total value of what you own minus the total amount of debt you have. Simply add up all of your money and property, from investment accounts to homes and vehicles, to find out the total value of your assets. Then subtract all your debts, like your mortgage and car loan, and you’ll have your net worth.

Read on to learn your peers’ net worth and see where you stand compared to your fellow Americans.

This is how much Americans are worth

In the United states, the median net worth was $192,700 in 2022, according to research from The Motley Fool based on data from the Federal Reserve’s Survey of Consumer Finances.

However, there was substantial variation in net worth by age. In fact, Americans aged 65 to 74 are the group with the highest net worth. This demographic had a median net worth that was around 10 times as great as the net worth of Americans under age 35.

Net worth tends to increase as you get older. Over time, you can work on repaying debt and acquiring more assets. Here’s the difference in median net worth by age:

Under 35: $39,040Ages 35 to 44: $135,300Ages 45 to 54: $246,700Ages 55 to 64: $364,27065 to 74: $410,000.75 and up: $334,700

As you can see, once you start spending down your savings in retirement, your net worth starts to fall again. That’s why Americans aged 75 and up had a median net worth that was lower than their younger counterparts between the ages of 65 to 74.

How to increase your net worth

If your net worth is above the median of $192,700, then you are “richer” than the typical American. And if you beat the median in your age range, then you’re well on your way to building a secure future and enjoying financial independence.

If you have a net worth that is lower than the median, that may not be a big issue — especially if you have close to the typical amount of wealth for your specific age cohort. For instance, it’s normal to be young and broke. However, if your net worth is much lower than your peers’, this can suggest you have some catching up to do.

The best way to grow your net worth is to focus on buying assets that go up in value and avoid any debt that won’t help you grow your net worth in the long run. It might make sense to take out a business loan to start a company, or a mortgage to buy a home that you can comfortably afford. But going into high-interest credit card debt to take a vacation is a bad idea.

You should budget your income carefully to ensure you’re saving and investing at least 20% of what you earn. If you take this money and buy things like stocks and certificates of deposit (CDs), your money can work for you and grow faster.

The more of these types of assets you acquire over time, the higher your net worth will be, and the sooner you can get on the path to becoming as rich as — or richer than — your fellow Americans.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Swifties will love putting their loyalty points toward concert tickets. Keep reading to find out how. [[{“value”:”

Swifties, we don’t have to tell you that Taylor Swift’s Eras Tour is the hottest ticket of the year. Her concerts have been selling out in minutes, and if you’ve tried getting your hands on tickets to one, you know they’re going for thousands of dollars on resale sites. It’s enough to make any fan despair!

But here’s a little secret: you can bypass the frenzy and snag those coveted tickets without shelling out any cash or maxing out your credit card. How, you ask? By using your Marriott Bonvoy points. That’s right, Marriott is offering a way for you to turn your loyalty points into a night of unforgettable music and memories. No more stressing over inflated prices or missing out on tickets — just pure Swiftie bliss.

How to get Taylor Swift tickets with points

Starting June 12, you can grab four tickets to Taylor Swift’s Miami concert for 500,000 points. That’s the equivalent of about $4,200, which is pretty good considering single tickets are going for more than that. Imagine trading in those points for a night of singing along to “Love Story” and “Shake It Off” with your best friends. Pretty cool, right?

Not into Miami? After the Miami points packages launch, other cities will be made available with the same deal. You can buy a package for the New Orleans concert starting June 19 and Indianapolis on June 26.

But that’s not all! Marriott Bonvoy is also running a sweepstakes for an all-expenses-paid trip to see Taylor Swift in Indianapolis on Sunday, Nov. 3. The winner will get flights for two, two nights at a luxurious hotel, and, of course, tickets to the concert. To enter, all you have to do is book a stay at any U.S. Marriott location before Sept. 15 and check in using the Marriott Bonvoy app. It’s a simple way to potentially win a truly unforgettable experience.

Other experiences to book with Marriott Bonvoy points

Now, let’s talk about the bigger picture. Marriott Bonvoy Moments is revolutionizing how you can use loyalty points. Sure, redeeming points for free hotel stays is great, but why stop there? With Marriott Bonvoy Moments, you can turn your points into once-in-a-lifetime experiences.

Fancy a Michelin-starred meal? You can use your points for an exquisite dinner and kitchen tour at Per Se in New York City for around 87,000 points. Or perhaps you’re into sports — think VIP tickets to major events or even meet-and-greets with your favorite athletes. Art lovers aren’t left out either, with options for private museum tours and exclusive gallery events.

The offerings change regularly, so there’s always something new and exciting to explore. Marriott Bonvoy Moments lets you turn your points into memories that go far beyond just another hotel stay.

RELATED: Best Hotel Credit Cards

Use transfer partners to get 500,000 points

If you’re a bit short on Marriott Bonvoy points but still dreaming of those Taylor Swift tickets, don’t worry! You can easily transfer points from various airline partners to top up your balance. Many airlines allow you to convert miles into Marriott Bonvoy points, helping you reach that 500,000-point goal faster.

For instance, you can transfer miles from United MileagePlus or ANA Mileage Club at a 1:1 ratio, meaning every mile becomes a point. Japan Airlines JAL Mileage Bank offers a 4:3 conversion rate, while Cathay Pacific and Korean Air both offer 2:1.

Even Hawaiian Airlines and Singapore Airlines KrisFlyer miles can be converted at a 2:1 rate. Just complete the request with your preferred airline partner, and you’ll be one step closer to securing those coveted Taylor Swift tickets.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool recommends Marriott International. The Motley Fool has a disclosure policy.

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Are you considering booking a cruise, but are unsure which one is right for you? Review these tips so you book the ideal cruise for your next vacation. [[{“value”:”

Cruising is an excellent way to explore multiple destinations easily. For some travelers, booking a cruise may feel less intimidating than flying from place to place. Plus, cruise lines plan most aspects of your cruise so you can sit back and relax and have a good time.

Whether you’re new to cruising or are a veteran cruiser, choosing a cruise that fits your preferences and budget is essential. Otherwise, your vacation experience may be different from what you hoped. Here are a few tips to help you choose your ideal cruise.

1. Consider the vibe and your personal travel style

Not all cruises are created equal. Some are more adventure-packed and energetic, while others are more easy-going and cater to a more relaxed crowd. Some cruises are kid-friendly and are targeted toward families, while others are for adults only.

You want to choose a cruise that fits your personal travel style and needs so you won’t be disappointed. Reviewing marketing materials and looking at the cruise itinerary gives you a feel for what kind of cruise experience you’ll expect.

You can also read reviews from other travelers to see what they had to say about their experience before booking. If you struggle to find reviews, consider joining travel or cruise groups online to learn more about a particular cruise before you book.

2. Decide what amenities are most important to you

You should also check to see what amenities your cruise includes. Some cruises are amenity-packed, while others have some amenities, but others come at a premium cost. No matter the cruise you pick, you can expect baseline amenities like basic dining offerings, some entertainment, and access to fitness facilities.

However, if you want a more premium experience with plentiful offerings, look for a cruise that suits your liking. Cruise lines such as Oceania, Seabourn, and Viking are known for going above and beyond with their amenities. But expect to pay more for these cruises.

Seabourn cruises, for example, are all-inclusive. You can expect an ocean-front suite, complimentary wifi packages, and a free in-suite bar stocked with your favorites. You won’t get these additional amenities when sailing with cheaper cruise lines like Carnival Cruise Line.

3. Determine how long you want to set sail and explore

A variety of cruises are available with shorter and more lengthier itineraries. You’ll want to decide how long you hope to set sail to narrow your options. However, in addition to the length of the cruise, review the itinerary to see how much time is spent on board vs. at port.

If you will spend a significant amount of time on the ship, consider whether that may be an issue for you. If you’re new to cruising, sticking with a three or four-night cruise may be the perfect introduction to this travel experience. But, some travelers may prefer lengthier cruises, especially if there is a lot of time built into the itinerary to explore each port.

4. Keep your finances in mind

As you research cruise options, be sure to consider your budget. You don’t want to risk accumulating credit card debt because you committed to a cruise you can’t afford.

There are more affordable cruise lines with budget-friendly cruise options, like Royal Caribbean and Carnival Cruise Line.

In addition to booking with a more affordable cruise company, you can look for cruise deals. Even pricier cruise lines run promotions that can make cruising affordable. You can sign up for cruise line email newsletters to stay alert to deals that can make your trip cheaper.

But no matter what cruise you pick, consider all the costs involved. In addition to the advertised price, you should check to see if you’ll pay additional taxes and fees and whether you’ll need to budget for drinks, excursions, or premium activities aboard the ship. Avoid being caught off guard by reviewing the terms and conditions of all cruise offers.

Use a credit card that earns travel rewards

Consider using a credit card that earns rewards when paying for your cruise. You can earn valuable rewards and redeem them for free travel in the future, making an upcoming vacation more affordable. Check out our list of the best travel credit cards to learn more.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool recommends Carnival Corp. The Motley Fool has a disclosure policy.

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A security flaw has cost thousands of Hyundai and Kia owners their vehicles. Taking these three steps can help you protect yours. [[{“value”:”

Two Hyundai and four Kia models made the list of top 10 most stolen vehicles in 2023 with a combined 174,421 stolen, according to the National Insurance Crime Bureau. They’ve become popular targets over the last few years after viral social media videos showed thieves how they could exploit a security flaw with these vehicles’ ignitions to steal them more easily.

Some car insurance companies have even stopped insuring models with this security flaw, due to the high risk of theft. It’s a huge headache for owners of these vehicles. But taking the following three steps can reduce your risk of loss.

1. Contact a Hyundai or Kia dealer

Both Hyundai and Kia have released free security software updates to help eliminate the security flaw thieves have been exploiting. But drivers usually need to take their cars to a dealership to get the fix.

Look up the nearest dealership and reach out to see what you need to do to get this issue resolved, if you haven’t already. You may also want to get a steering wheel lock in the short term. This might not stop all thefts, but it could deter some looking for an easy score.

2. Review insurance coverage

Drivers of affected Hyundai and Kia models, including the Hyundai Elantra and Sonata and the Kia Optima, Soul, Forte, and Sportage, may wish to verify that they have adequate car insurance to protect them if their vehicle is stolen. Specifically, they should check to see if they have comprehensive coverage. This pays for vehicle repairs or replacement following theft, vandalism, natural disasters, and other non-collision losses.

Those who don’t have this coverage may want to purchase some, so they don’t have to pay to replace their vehicle out of pocket if it’s stolen. But finding an insurer willing to cover these models could be challenging.

Top car insurance companies, like State Farm and Progressive, temporarily stopped accepting applications from drivers of affected Hyundai and Kia models when thefts were especially rampant. This may have changed since the vehicle manufacturers released fixes for the issue.

To find out which company offers the most affordable car insurance coverage, it’s best to get quotes from three to five companies. Drivers who aren’t sure whether their vehicle make and model is insurable can either try obtaining a quote online or contacting the company by phone.

3. Make the vehicle a more difficult target

In addition to the steps above, drivers of the affected models should take steps to make their vehicles less appealing targets for thieves. This includes:

Locking the vehicle when leaving it unattendedParking it in a garage or off the street whenever possibleInstalling an anti-theft device on the vehicle

Some drivers may also want to put some sort of tracking device in their car, like an Apple AirTag, so they can track it if it is stolen. Hyundai and Kia owners who are especially worried may want to shop around for a new vehicle altogether, but this shouldn’t be necessary for most people.

There’s never a way to guarantee your vehicle won’t get stolen, but taking the above steps should reduce this risk pretty significantly. Just don’t put them off.

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This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Kailey Hagen has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends Progressive. The Motley Fool has a disclosure policy.

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