What Is the Average American Net Worth by Age?

Wondering how your net worth compares to others your age? Looking at average and median net worth by age group can give you a sense of where you stand—and what to aim for next.

These benchmarks aren’t about keeping up. They’re tools to help you set goals, track progress, and make smarter money moves over time. Whether you’re building savings, paying down debt, or planning for retirement, it’s all about moving forward.

What is net worth?

Net worth is the difference between all your assets (what you own) and liabilities (what you owe). In essence, it represents your overall financial worth.

Assets may include tangible assets, such as real estate, automobiles, and personal possessions, as well as intangible assets, like bank accounts, investments, and retirement accounts. Liabilities, on the other hand, include debts like mortgages, auto loans, credit card debt, student loan debt, and personal loans.

The table below highlights both average and median net worth across age groups in the United States, based on the Federal Reserve’s Survey of Consumer Finances (using the latest data from 2022):

Age Range	Average Net Worth	Median Net Worth
Under 35	$183,500	$39,000
35–44	$549,600	$135,600
45–54	$975,800	$247,200
55–64	$1,566,900	$364,500
65–74	$1,794,600	$409,900
75+	$1,624,100	$335,600

Source: Federal Reserve Survey of Consumer Finances, 2022 release

How to Interpret Net Worth Figures by Age

Net worth numbers can be helpful, but they don’t tell the full story. Career paths, living costs, lifestyle choices, and family situations all shape your financial picture. Two people earning the same income might have very different net worths depending on where they live and how they manage debt.

Even within the same age group, net worth can vary widely. Someone in their early 30s might still be paying off student loans, while someone else may have already built home equity or started investing. That’s why these benchmarks are better viewed as reference points—not hard targets.

Building wealth takes time. Use these numbers to track trends, but stay focused on your own progress and priorities. Sustainable growth comes from consistent actions that align with your goals.

The median net worth gives a clearer picture of where most Americans stand. It represents the middle point—half of households have more, half have less.

According to the latest Federal Reserve data, the median household net worth in the U.S. is $192,900. That’s much lower than the average, which is skewed by the ultra-wealthy.

If your net worth doesn’t match the average, you’re not alone. Focus on building steady progress, not chasing numbers inflated by a small percentage of high earners.

Why Net Worth Is Important

Net worth shows you where you stand financially. If your assets are greater than your debts, your net worth is positive. If your debts are higher than what you own, it’s negative—but that can improve over time.

Tracking net worth makes it easier to set goals, manage your debt, and make clear decisions about your future. It brings all your financial pieces together in one place so you can see what’s working and what needs to change.

• Financial Goals: Knowing your net worth helps you plan for things like buying a home, starting a business, or saving for retirement.
• Debt Management: A clear view of your net worth can help you manage your debt more effectively and decide when to focus on paying it down.
• Risk Management: A healthy net worth gives you a buffer in tough times, reducing the need to lean on credit cards or loans.
• Retirement Planning: It helps you see if you’re on track to retire comfortably—and where you might need to adjust.

How to Calculate Your Net Worth

Net worth is what you own minus what you owe. It’s a simple calculation that gives you a clear picture of your financial standing—and it’s easy to do with just a few steps.

1. List Your Assets

Start by adding up the value of everything you own. This includes:

• Bank accounts (checking, savings, money market)
• Retirement accounts (401(k), IRA, Roth IRA)
• Investments (stocks, bonds, mutual funds)
• Real estate
• Home equity
• Vehicles, jewelry, and other personal property
• Life insurance policies with cash value
• Business ownership or equity in private companies

2. List Your Liabilities

Next, total all of your outstanding debts. These may include:

• Mortgage balances
• Credit card debt
• Student loans
• Auto loans
• Personal loans
• Home equity lines of credit (HELOC)
• Other installment loans

3. Add Up Your Total Assets

Once you’ve listed your assets, calculate the combined value.

4. Add Up Your Total Liabilities

Do the same for your debts—add them all together to get your total liabilities.

5. Subtract Liabilities From Assets

Now subtract your total liabilities from your total assets. The result is your net worth.

Use a Calculator to Speed Things Up

If you’d rather not crunch the numbers manually, try a net worth calculator or personal finance app. Many tools can track your assets and debts automatically, giving you a real-time snapshot of your net worth.

Simple Ways to Increase Your Net Worth

Increasing your net worth involves a combination of growing your assets and reducing your liabilities. Here are some strategies to help you increase your net worth at any stage of your financial journey:

Increase Income and Savings

• Invest in Education: Pursue a college degree or additional certifications to increase your earning potential and open up new career opportunities.
• Negotiate Salary: Regularly negotiate your salary or seek promotions to ensure you are fairly compensated for your skills and experience.
• Side Hustles: Consider starting a side hustle or part-time job to supplement your income and funnel additional earnings into savings or investments.
• Automatic Savings: Set up automatic transfers from your paycheck to your savings or retirement account to ensure consistent savings growth.

Reduce Debt

• High-Interest Debt: Prioritize paying off debt with high interest rates, such as credit card debt, to reduce the overall cost of your debt.
• Debt Avalanche or Snowball Method: Use debt repayment strategies like the debt avalanche (paying off debts with the highest interest rates first) or debt snowball method (paying off debts with the smallest balances first) to stay organized and motivated throughout your debt payoff journey.
• Refinance or Consolidate Loans: Consider refinancing or consolidating high-interest loans, such as student loans or auto loans, to lower interest rates and reduce your monthly payments.

Grow Assets

• Investments: Contribute to your investment portfolio regularly and diversify your investments to minimize risk and maximize returns.
• Retirement Accounts: Maximize your contributions to retirement accounts, such as 401(k)s and IRAs, to take advantage of tax benefits and employer matching programs.
• Home Equity: Make extra mortgage payments or invest in home improvements to increase your home equity and overall net worth.
• Emergency Fund: Establish an emergency fund to cover unexpected expenses, reducing your reliance on credit cards or loans during difficult times.

Budgeting and Financial Planning

• Budgeting: Create a realistic budget and track your spending to identify areas where you can cut expenses and allocate more funds to savings or debt repayment.
• Financial Advisor: Consult with a financial advisor to develop a customized financial plan tailored to your unique needs and goals.
• Long-Term Financial Goals: Set clear, long-term goals and regularly review your progress to ensure you stay on track and make necessary adjustments as needed.

Final Thoughts

Your net worth is one of the clearest ways to measure financial progress. It shows where you stand today and helps you spot areas to improve—whether that means saving more, managing your debt, or investing for the future.

You don’t need to match the national averages to be on the right track. What matters most is that your net worth is moving in the right direction. Keep checking in, make small adjustments when needed, and stay focused on the goals that matter to you.

Frequently Asked Questions

How often should I calculate my net worth?

Calculate your net worth at least annually or when major financial changes occur, like a home purchase or debt repayment. Regular tracking helps you measure progress and make adjustments.

What’s the difference between net worth and income?

Net worth is the difference between your assets and liabilities, while income is what you earn. Income can contribute to net worth, but building net worth also involves managing debts and assets effectively.

How does inflation affect net worth?

Inflation decreases the purchasing power of cash, meaning that money held in cash-based assets can lose value over time. Consider investments like stocks or real estate to potentially outpace inflation.

How does home ownership impact net worth?

Owning a home can increase net worth through equity and appreciation, though costs like maintenance and mortgage interest should be factored into long-term financial planning.

What is the average net worth of the top 1%?

Based on recent data, the top 1% of U.S. earners typically have a net worth exceeding $10 million, largely due to diversified investments and accumulated wealth over time.