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Average net worth
According to the 2022 Federal Reserve Survey of Consumer Finances, the average net worth of U.S. households is $1.06 million and the median net worth is $192,900 . The median is a more accurate representation, because a few very rich households drive up the average.
What is net worth?
Your net worth is the value of all your assets (such as your home, if you own one, your car, and money in savings, checking or retirement accounts) minus your liabilities (such as a mortgage, student loans, car loans or credit card debt). Net worth is one measure of wealth.
» MORE: Use our net worth calculator
Net worth by age
Net worth usually grows as a person ages and savings, investments and assets add up over time. It often dips when people retire, likely due to living on Social Security and fixed incomes as while inflation increases costs, including more medical expenses and 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. |
| Source: Federal Reserve Board 2022 Survey of Consumer Finances. The Federal Reserve Board does the survey every three years. This most recent data was released in October 2023. | ||
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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.
1. Track your spending
“Figuring out where your money is actually going is the first step,” says Chelsea Ransom-Cooper, a certified financial planner and chief financial planning officer at ZenithWealth Partners. “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.
2. 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 can add up, whether it’s stashing $200 or $20 per month.
“You’ll surprise yourself on how quickly you can build wealth,” Ransom-Cooper 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.
3. 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.
4. 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.
The tables above show 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.
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How does your
net worth stack up?
See where you stand compared to households like yours, and get steps you could take to grow from here.
NWWP is an SEC-registered investment adviser. Registration does not imply skill or training. Calculator by NerdWallet, Inc., an affiliate, for informational purposes only.
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- 1. Federal Reserve Board. Survey of Consumer Finances (SCF) Net worth by all families. Accessed Sep 3, 2025.
