Member-only story
What’s the Average Net Worth of Americans by Age?
In a world where names like Jeff Bezos and Oprah Winfrey dominate discussions about wealth, it’s easy to forget that net worth is a relevant metric for everyone, not just billionaires.
Calculating your net worth can provide valuable insights into your financial well-being. The Federal Reserve’s Survey of Consumer Finances, released in October, offers a detailed breakdown of the average net worth of Americans by age, enabling you to gauge your financial standing among your peers.
Defining Net Worth
At its core, net worth is a simple equation: assets minus liabilities. In other words, it represents everything you own versus everything you owe. Your assets may include your home, retirement investments, and other valuable possessions, while liabilities comprise debts like student loans and car payments. To determine your own net worth, you can use the FDIC’s online calculator.
Recent Trends in American Net Worth
The Federal Reserve conducts its Survey of Consumer Finances every three years. The latest report, primarily based on data collected in 2022, reveals some noteworthy trends. Between 2019 and 2022, the median net worth of U.S. households saw a substantial 37% increase, reaching $192,900. Meanwhile, the mean (or average)…
