Average and Median Net Worth by Age: How Do You Compare?

Do you know your net worth? It's what you own minus what you owe.

You can calculate yours by subtracting the value of all your liabilities (such as credit card debt and student loans) 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 Survey of Consumer Finances^[0]

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^[0]

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.

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. You might find that you have more assets than you realized, or that your debt is making it harder to build wealth.

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

If you don't already have a budget, start tracking how much money comes in, and how much goes out. 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. We recommend 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

Any level of saving will add up, whether it’s stashing $200 or $20 per month. Consider setting up automatic transfers to a high-yield savings account or other savings account.

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, that chart above shows that net worth can change with time.