Average and Median Net Worth by Age: How Do You Compare?
The average net worth for U.S. families is about $1.06 million. The median — a more accurate measure — is $192,700. Net worth typically grows as you age, until you stop working.
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More than 12,000 people a month search “What is net worth?” Do you know yours? It's what you own minus what you owe.
“We always track our clients’ net worth from day one when they start, and then review it every year,” says Chelsea Ransom-Cooper, a certified financial planner and chief financial planning officer at ZenithWealth Partners.
You can calculate your net worth by subtracting the value of all your liabilities (such as credit card debt) from the value of all your assets (your home, if you own one, and any money in retirement accounts). You can also use our net worth calculator.
Now, let's see how you stack up against others in the U.S.
Average American net worth
The average net worth of U.S. households was about $1.06 million in 2022, according to the most recent data available from the Survey of Consumer Finances. That's up 23% from 2019 when the average U.S. net worth was $865,720.
That number might seem high, but that's because very rich households drive the average up. Looking at the median, or the midpoint value, is a more accurate representation of the everyday person.
Median American net worth
The median net worth of all U.S. households was $192,700 in 2022. That's an increase of 37% from 2019, when it was $141,140.
Median and average net worth by age
Net worth usually grows as a person ages. Savings, investments and assets add up over time. Then, once people get older and stop working, it starts to dip, likely due to living on a fixed income as new costs rise, including more medical expenses and housing transitions to assisted living.
Age of head of family | Median net worth | Average net worth |
|---|---|---|
Under 35 | $39,040. | $183,380. |
35-44 | $135,300. | $548,070. |
45-54 | $246,700. | $971,270. |
55-64 | $364,270. | $1,564,070. |
65-74 | $410,000. | $1,780,720. |
75+ | $334,700. | $1,620,100. |
This data is from the Survey of Consumer Finances. The Federal Reserve Board issues the survey every three years to share information about family incomes, net worth, retirement savings and more. The most recent report was released in October 2023.
Looking at your net worth is just one way to spot strengths and opportunities for growth.
Ransom-Cooper said many of her firm’s clients haven’t seen their net worth before and are surprised, she says.
Either it’s higher than they expected, because they haven’t considered investment or retirement accounts, such as 401(k)s. Or, net worth is lower than expected, because they haven’t taken all of their liabilities, such as graduate school debt, into account.
How to increase your net worth
There are many tactics you can use to build net worth if that's your goal. Start with a few basic steps:
Track your spending
“Figuring out where your money is actually going is the first step,” says Ransom-Cooper. “It doesn't matter how much you make, if your money isn't going to the right places, you can blow it.”
If you don't already have a budget, start tracking how much money comes in, and how much goes out, even if you have a high income.
Most budget frameworks will tell you to set aside a certain amount for needs, wants and savings/debt payoff.
Because net worth is what you own minus what you owe, cut down on what you owe. NerdWallet recommends paying down debts with the highest interest rates first. Another option you may consider is debt consolidation: rolling multiple debts into one payment.
Grow your money
“Immediately when that paycheck comes in, set up auto payments for all the things that are going to have a positive impact on your net worth,” Ransom-Cooper says.
Any level of saving will add up, whether it’s stashing $200 or $20 per month.
Make sure the money goes directly into savings accounts, not checking accounts where the money is easy for you to access and spend, Ransom-Cooper says.
“You’ll surprise yourself on how quickly you can build wealth,” she says.
If you have access to a 401(k) with an employer match, consider contributing at least enough of your paycheck to get the match. Your money, plus the match, will grow as you continue to work.
Increase your income
Sometimes it might feel like you don’t have enough left over to save and/or invest. If you want to get more cash flow, we have a list of money-making ideas, including different side hustles.
Be patient
Factors beyond your control can affect your net worth, such as stock market swings and sudden changes in income. The goal should always be to try to pivot as necessary to get your finances back on track.
Remember, these charts above shows that net worth can change with time.
Try to be as consistent as you can with your savings so that compound interest can do its job in helping your money grow over the long term.
"Building wealth is not supposed to be sexy," Ransom-Cooper says. "It’s supposed to be slow and mundane and boring ... it’s supposed to be consistent."
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