Net worth calculator
Start with your balance sheet first. Use realistic resale values for homes, vehicles, and other assets.
SimpleKit Net Worth Calculator is a plain-English net worth calculator for Canada. Use it as a household net worth calculator, a personal balance-sheet check-in, or a quick way to connect today’s numbers to longer-term retirement planning.
Quick view
Building
Live snapshot
Current net worth
$0
Charts and breakdowns
Keep the visuals simple: what you own, what you owe, and where your trajectory may be headed.
Asset mix
Largest categories first.
Assets vs liabilities
Quick balance sheet comparison.
Future net worth projection
Projection assumptions are simple by design: growth on assets, yearly contributions, and annual debt paydown.
Projected outcome
Estimate only. Not financial advice.
Projected net worth in 10 years
$0
Change the assumptions above to test different savings, growth, and debt-paydown paths.
Educational estimate only. Property values, pension values, and future returns may differ from reality.
Projected net worth over time
Current year plus each projected year.
What counts toward net worth?
Keep it plain: assets are what you own, liabilities are what you owe, and your net worth is the difference.
Assets
Assets include cash, investments, pensions, real estate, vehicles, business value, and anything else with meaningful resale or financial value.
Liabilities
Liabilities include mortgages, HELOCs, lines of credit, student loans, car loans, credit cards, and other debts that reduce your balance sheet.
Why home equity matters
Your home can be one of your biggest assets. Equity is what is left after subtracting the mortgage and any related borrowing such as a HELOC.
Formula
Net Worth = Total Assets - Total Liabilities
Pensions can be estimated
Defined benefit pensions are not always easy to value, so an estimate is acceptable. If you have a statement with a commuted value or transfer value, that can help.
Vehicles can count, but be realistic
Cars can be included, but they are depreciating assets. Use realistic resale values instead of what you paid.
Common mistakes
- Forgetting debts that still reduce your balance sheet.
- Double counting the same money across multiple accounts.
- Ignoring home equity by listing property value without the mortgage.
- Overstating resale values for homes, vehicles, or collectibles.
- Leaving out employer pensions that materially affect your full picture.
Net worth questions Canadians often ask
Readable answers first, without turning the page into finance jargon.
What is net worth?
Net worth is a snapshot of your finances at a point in time. It helps you see whether your assets are growing faster than your debts and whether your household is building long-term financial strength.
How do you calculate net worth in Canada?
Add your cash, TFSA, RRSP, FHSA, non-registered investments, pensions, property, vehicles, and other assets. Then subtract mortgages, HELOCs, loans, credit cards, and other debts.
Should you include your house in net worth?
Usually yes. For many households, home equity is a large part of total net worth. The key is to include both the home value and the remaining mortgage balance.
Is pension included in net worth?
It can be, especially if you have a pension statement that gives you a commuted value or another estimate. If you are unsure, you can leave it out for now and add it later.
What is a good net worth by age?
There is no single number that fits everyone. Income, housing costs, pensions, family size, and when you started saving all matter. The more useful question is whether your net worth is moving in the right direction over time.
How does net worth connect to retirement planning?
Net worth shows the resources you may be able to draw on later, but retirement readiness also depends on income sources, spending needs, taxes, and timing decisions such as CPP or RRSP withdrawals.
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