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Average Net Worth By Age: Where Do You Stand?

A lot of us does not expect to have a net worth in the millions. But have you ever wondered what the average net worth by age is? If so, then you have come to the right place. Indeed, knowing how your net worth compares to others can be good information in that it can give you a sense of satisfaction or serve as a source of motivation for you.

So, take the time to see how your net worth stacks up against your peers to see if you’re headed in the right direction. And if you’re not, then it’s time to take action by making more money, reduce debt, and acquire assets. In the meantime, SmartAsset’s free tool can match you with a financial advisor who can help you grow your net worth.

What is the average net worth?

The Federal Reserve’s 2020 Survey of Consumer Finances shows that the average net worth for all American families is $748,800. That number, however, doesn’t tell the who story as the median is a much lower number of $121,700. The median is a more accurate representation of the average person.

Average net worth by age.

When it comes to your net worth, your age plays a major role. For instance, as you get older, you acquire more assets like a house. And at some point down the line, you get some equity in the home, thus increasing your net worth.

Here’s sample of American’s net worth by age:

AgeAverage Net Worth
Under age 35$76,300
75 and older$977,600

What is net worth and how it is calculated?

Your net worth is the assets you own minus your liabilities or debts. Assets include: 1) Your bank accounts, including your checking, savings, money market funds, investment accounts, etc; 2) CDs, municipal bonds, saving bonds, government bonds, health savings accounts. 3) Retirement accounts like 401k, 403bs, Roth or Traditional IRA; 4) Real estate, including residential homes; 5) Cars, motorcycles, boats, e.

Your net worth is important, because it tells where you are right now and where you need to go.

It is calculated by substracting your liabilities or debts from the value of your assets. Your liabilities and debts include your mortgages, credit card debt, loans including student loans, personal loans, auto loans, business loans.

If you want more advice on growing your net worth, use SmartAsset to connect with a financial advisor.

Average net worth (under age 35)

The average net worth for individuals age 35 and under is $76,300. The median is $13,900.

The reason the net worth in this age group is so low is because it’s comprised of younger folks in their 20s and who just graduated from college. They don’t have any money saved up and they have a lot of student loans.

Nonetheless, it’s crucial to save something every month no matter how little. Money saved up now can be used as a down payment on a house, which is an asset, thereby increasing your net worth. You should also consider opening a tax-free retirement account.

Here are the other average net worth by age:

  • Average net worth (age 35-44): $436,200. The median is $91,300.
  • Average net worth (age 45-54): $833,200. The median is $168,600.
  • Average net worth (age 55-64): $1,175,900. The median is $212,500.
  • Average net worth (age 65-74): $1,217,700. The median is $266,400. 
  • Average net worth  age 75 and older): $977,600. The median is $254,800.

How to grow your net worth.

There are several ways to increase your net worth. One is to buy a real estate property. It can be your own house to live in or a rental property.

Second is to open a retirement account. Retirement accounts, like a 401k, a Roth IRA or a traditional IRA, are in fact the best ways to build your net worth. Your money grows tax-free in these accounts.  If your job offers a 401k plan, you should definitely participate in it.

Third, start saving more.

Saving your money now is another important way to grow your net worth. You will need some type of upfront cash to obtain assets. If you’re buying a house, for example, you will need to come up with the down payment on the house.

If your current savings account is currently paying you a meager .01% interest, then it might be time to switch savings account to one that pay way more. A high interest savings account like CIT Bank Savings could help you earn 15 times more interest each month.


  1. 20 Questions to Tell If You’re Ready to Retire
  2. How to Retire at 50: 10 Easy Steps to Consider
  3. CIT Bank CD Rates: How Much Can You Earn

Speak with the Right Financial Advisor

You can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning to retire at 50, saving, etc). Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

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