Average net worth by age climbs steadily from a small or even negative number in your 20s to several hundred thousand dollars by retirement age — but the "average" you see quoted depends heavily on whether it's a mean or a median, and the two can differ by hundreds of thousands of dollars.
- Net worth by age comes from national surveys, most notably the Federal Reserve's 2022 Survey of Consumer Finances (the most recent, released in 2023), updated every three years.
- Mean (average) net worth is skewed upward by a small number of very wealthy households — it is not what a typical household has.
- Median net worth — the household exactly in the middle — is the more honest number for "what's typical."
- Net worth by age typically rises through the 50s and 60s, often peaking around retirement, then edges down as retirees spend savings.
- These are rounded, survey-based ranges, not precise or predictive figures for any individual household.
Mean vs. median: the distinction that changes everything
- The mean adds up every household's net worth and divides by the number of households.
- The median sorts every household from lowest to highest and takes the one in the exact middle.
Because wealth in the U.S. is concentrated at the top, a relatively small number of extremely high-net-worth households drag the mean far above what a typical household actually has. The median is not affected by those outliers the same way, which makes it the more useful number for "where do I stand compared to a typical household my age."
Key point
When a headline says "average net worth is $X," check whether it means mean or median — the difference is often two to four times larger for the mean.
Approximate net worth by age (survey-based ranges)
These figures are rounded ranges based on the Federal Reserve's 2022 Survey of Consumer Finances (the most recent, released in 2023) and should be read as directional, not exact — actual figures shift with each survey cycle, market conditions, and home values.
| Age group | Approx. median net worth | Approx. mean net worth |
|---|---|---|
| Under 35 | ~$35,000–$45,000 | ~$175,000–$195,000 |
| 35–44 | ~$130,000–$145,000 | ~$540,000–$570,000 |
| 45–54 | ~$235,000–$255,000 | ~$950,000–$1,000,000 |
| 55–64 | ~$355,000–$375,000 | ~$1,500,000–$1,600,000 |
| 65–74 | ~$400,000–$420,000 | ~$1,750,000–$1,800,000 |
| 75 and older | ~$320,000–$340,000 | ~$1,600,000–$1,650,000 |
A few patterns worth noticing:
- The mean-to-median gap widens with age — by the 65–74 group, the mean is roughly four times the median, reflecting how concentrated wealth becomes among older, wealthier households.
- Net worth tends to dip after 75 as retirees draw down savings and spend home equity rather than keep accumulating.
- Homeownership drives a lot of the jump between the under-35 group and everyone older — home equity is often the single largest asset on a household balance sheet.
Why these numbers vary so much by source
- Survey year — figures shift with market performance and home values between survey cycles.
- How "household" is defined — a single 28-year-old and a married couple in their 20s get counted very differently.
- What's included — some datasets include retirement accounts and home equity fully, others handle vehicles or business ownership differently.
- Regional cost of living — a household in a high-cost metro often needs a very different number to feel the same financial security as one in a lower-cost area.
Nuance: why comparing yourself to the average can mislead
- Career stage matters more than birthday. A 32-year-old three years into a high-paying career and a 32-year-old still finishing grad school aren't in the same starting position, even at the same age.
- Debt-heavy early years are normal. Student loans and a new mortgage can put 20-somethings and early 30-somethings below $0, which is why the under-35 median is so low relative to later decades.
- Two-income households compound faster. Averages don't separate single filers from dual-income households, which can meaningfully skew what "typical" looks like at a given age.
Watch out
Treat any age-based benchmark as a rough compass, not a report card. Health, region, family size, career path, and how recently you started earning all change what's realistic for you.
A worked example: reading the table correctly
Say a 40-year-old has a net worth of $95,000. Compared to the median for the 35–44 group (roughly $130,000–$145,000), that's below the midpoint of the range — but not alarmingly so, especially if that person started their career later, is paying down student loans, or lives in a high cost-of-living area where saving takes longer. The number is a data point to plan around, not a verdict on financial health.
FAQ
Why is average net worth so much higher than median net worth?
A small number of very wealthy households pull the average (mean) up dramatically. The median — the middle household — is a far more realistic picture of a typical person's finances.
What data do these figures come from?
Figures like these are drawn from national household surveys, most notably the Federal Reserve's Survey of Consumer Finances, which is conducted every three years.
Is it bad if my net worth is below the average for my age?
Not on its own. Averages don't account for your income, region, health, family size, or career stage. They're a reference point, not a target.
Does net worth by age include home equity?
Yes. National surveys typically count primary residence value as an asset, which is why net worth tends to jump for age groups with higher homeownership rates.
Why does net worth peak around retirement age and then drop?
Net worth for older households often peaks in the 65–74 range and edges down afterward as people draw down savings and spend down assets in retirement rather than keep building them.
Related reading
What is net worth, and how do you calculate it?
Net worth is what you own minus what you owe. Here's the exact formula, what counts as an asset or liability, and a worked example you can copy.
Net worth milestones: are you where you should be?
Rules of thumb like "1x your salary by 30" are popular, easy to remember, and often misleading when applied to a real, specific life. Here's how to use them without being ruled by them.
How to increase your net worth
Net worth grows two ways: build assets and shrink liabilities. Here are the actual levers that move the number, in the order they tend to matter most.
PiggySize is a planning tool, not a financial advisor. This article is educational — projections and examples are estimates, not financial, tax, or investment advice.