This will be a fair comparison of how good a wealth accumulator you are. Rather than comparing the dollar amount of your net worth, we will stack you up against others in terms of your net worth over income.
If a person makes $100k/year and has $500k in net worth, he’s definitely a much better wealth accumulator than another person who makes $500k/year but has only $1m in net assets (i.e. assets minus liabilities, which is the same thing as net worth).
The first person’s networth to income ratio is 5x, while that of the second person is a measly 2x.
So you have no more excuses. (Yes, you still have one – if you’re just starting out, you will need time to build up your wealth.)
What is your networth to your income ratio?
To calculate your net worth, you can use this net worth calculator. You can also treat you and your spouse as one entity, and combine both your net worth and both your incomes in the calculations.