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Average Net Worth By Age
2023 Statistics and Thoughts
The average net worth by age in 2023 is a topic that is of great interest to many people, as they seek to understand their own financial position and plan for their future. Net worth is calculated by subtracting one’s total liabilities from their total assets, and can provide a snapshot of an individual’s overall financial health. Let’s take a closer look at the average net worth by age in 2023, and what it can tell us about financial trends and opportunities.
According to the Federal Reserve’s 2021 Survey of Consumer Finances, the average net worth by age varies widely, depending on factors such as education level, occupation, and geographic location. Here is a rough breakdown of average net worth by age every 10 years based on the survey:
- Age 25–34: $76,200
- Age 35–44: $436,200
- Age 45–54: $909,500
- Age 55–64: $1,485,600
- Age 65–74: $1,414,400
- Age 75 and older: $1,116,900
It’s important to note that these are only averages and there is a significant amount of variation among individuals within each age group. Additionally, these numbers reflect median net worth (the midpoint value when all net worth values are ordered from lowest to highest), which may…
