Net Worth by Age: How Do You Compare? (2024 Data)

One of the most common financial questions people ask is: "Am I on track?" Net worth by age data from the Federal Reserve's Survey of Consumer Finances (the most comprehensive such survey, conducted every three years) provides a useful benchmark — though one that should be used carefully.

Why Average vs. Median Matters

When reading any "average net worth" statistic, pay close attention to whether it reports the average (mean) or the median. The average is pulled sharply upward by the extreme wealth at the top of the distribution. The median — the 50th percentile, where half of households have more and half have less — is a far more useful benchmark for most people.

For example, households headed by someone aged 55–64 have a mean net worth of approximately $1.57 million but a median net worth of about $365,000. These are not contradictory — they reflect a highly skewed distribution where a relatively small number of very wealthy households push the average far above what a typical household holds.

Net Worth Benchmarks by Age Group

These figures are approximate medians drawn from Federal Reserve data (2022 Survey of Consumer Finances):

Ages 25–34: Median net worth approximately $39,000. Many in this group are still paying off student loans and have modest home equity if they own at all. Building retirement savings habits in this decade creates compounding that is extremely difficult to replicate later.

Ages 35–44: Median net worth approximately $135,000. Home equity starts to become a meaningful contributor. This is the decade when the gap between those who invested early and those who did not begins to widen significantly.

Ages 45–54: Median net worth approximately $247,000. Peak earning years for many, with growing retirement account balances. The "two-income household with college costs" crunch can derail savings progress in this group.

Ages 55–64: Median net worth approximately $365,000. The decade immediately before typical retirement age. Those at the 75th percentile have roughly $1M+ in investable assets; those at the 25th percentile have closer to $80,000–$100,000.

Ages 65–74: Median net worth approximately $409,000. The cohort that has recently retired or is retiring now. Social Security, Medicare, and RMDs from retirement accounts all begin shaping the financial picture.

How Home Equity Distorts the Picture

For Americans at the 25th to 50th percentile of net worth, home equity represents the majority of their total net worth — often 50–80%. This matters because home equity is largely illiquid: you cannot spend it without selling your home or taking on debt secured by it.

Investable net worth — total net worth excluding home equity — is often a more useful number for retirement planning purposes, since it more accurately reflects the assets you can actually draw income from.

What to Actually Do With This Information

Net worth comparison is most useful as a directional signal, not a definitive score. If you are significantly below the median for your age group, it is worth asking: what is driving the gap? Is it student debt that is now paid off? A late start on investing that you have corrected? Or are you spending more than you are saving consistently?

If you are above the median, resist the temptation to conclude you are "fine." The median is not the target — your target is whatever number, based on your planned retirement age and desired lifestyle, represents financial independence for you specifically.

A financial advisor can build a personalized model that tells you far more about whether you are on track than any population average.