Household Net Worth

Determine your household net worth as follows:

Step 1.

Calculate the total value of your assets (and, if married, of your spouse), including:

  • Cash (such as checking and savings accounts, CDs, money-market funds)
  • Stocks, bonds, and mutual funds
  • Stock options
  • Closely-held business interests
  • Retirement accounts (such as a 401(k), IRA, or SEP)
  • Deferred compensation plans
  • Commercial annuities
  • Value of home and any vacation property
  • Automobiles
  • Art, collectibles, jewelry, furnishings

Step 2.

Calculate the total amount of any debts, including:

  • Mortgages
  • Home-equity loans
  • Credit card balances
  • Personal loans
  • Student loans
  • Auto loans

Step 3.

Subtract the total debt from the total assets to obtain your household net worth, which must be under $750,000 in order to be eligible for the program.