Average Net Worth by Age (2025)
Based on Federal Reserve Survey of Consumer Finances (SCF) 2022 — the most comprehensive U.S. household wealth survey
Net worth = Total assets (home, investments, retirement accounts, cash) minus total liabilities (mortgage, student loans, car loans, credit card debt)
Median vs. Average: The average net worth is pulled up dramatically by the ultra-wealthy. For most families, the median is a far more meaningful benchmark. At ages 35-44, the average is $549,600 but the median is just $135,600 — a 4× difference.
U.S. Net Worth by Age — Fed SCF 2022
| Age Group | Average Net Worth | Median Net Worth |
|---|---|---|
| Under 35 | $184k | $39k |
| 35–44 | $550k | $136k |
| 45–54 | $976k | $247k |
| 55–64 | $1.57M | $365k |
| 65–74 | $1.79M | $410k |
| 75+ | $1.62M | $336k |
Source: Federal Reserve Survey of Consumer Finances (SCF) 2022. Blue column = median (recommended benchmark for most households).
Net Worth Rules of Thumb
The Millionaire Next Door Formula
Expected Net Worth = (Age × Pre-tax Annual Income) ÷ 10
From the classic book by Stanley and Danko. If you're earning $100k at age 40, your expected net worth target is $400,000. This is a useful rule of thumb, not an absolute.
The FIRE Calculation
FIRE Number = Annual Expenses × 25 (at 4% withdrawal rate)
To be financially independent, you need 25× your annual expenses invested. At $60,000/year in expenses, that's $1.5M. The 4% rule has historical support but is debated for early retirees with 40+ year horizons.
The Income Multiple Approach
1× salary at 30 → 3× at 40 → 6× at 50 → 10× at 65
Fidelity's retirement-focused benchmarks. Note these focus on retirement assets, not total net worth (which includes home equity).
What Drives Net Worth? Asset Composition
| Asset Category | Share of Total Assets |
|---|---|
| Primary Residence | 24% |
| Retirement Accounts | 21% |
| Financial Investments | 18% |
| Business Equity | 15% |
| Other Real Estate | 8% |
| Vehicles | 4% |
| Other Assets | 10% |
Key Insights
Wealth in America is highly concentrated. The top 10% of families hold about 67% of total household wealth. The bottom 50% hold less than 3%. This extreme skew explains why averages look so much higher than medians.
Homeownership is the #1 Wealth Builder
For most middle-class families, primary home equity is the largest component of net worth. This is why homeownership rates correlate strongly with generational wealth — forced savings through mortgage payments and appreciation over time.
The Racial Wealth Gap
The SCF shows persistent gaps: median white family net worth ($284,310) is roughly 8× that of Black families ($44,890) and 5× that of Hispanic families ($61,570). These gaps reflect decades of unequal access to homeownership, investment, and generational wealth transfer.
Related Tools & Data
Methodology & Sources
- • Primary source: Federal Reserve Board, "Survey of Consumer Finances (SCF) 2022" — conducted every 3 years, the most comprehensive U.S. household balance sheet survey
- • Sample: ~4,600 households, with oversampling of wealthy households for better estimates of top-end wealth
- • Net worth definition: Total assets minus total liabilities, where assets include financial and non-financial assets (real estate, vehicles, business equity) and liabilities include all debts
- • Top quartile: Approximate threshold at which households enter the top 25% of net worth within each age group, estimated from SCF percentile tables
- • Next update: SCF 2025 data expected to be released in late 2026