The Average Net Worth of Americans at Every Age

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Woman holding money
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How much money are you worth? If you are the average American, the answer is more than $1 million.

If your own assets are much smaller than $1,059,400 — the average American’s net worth, according to financial services company Empower — don’t panic: You have a lot more company than you might think.

The concept of “average” can be highly misleading, because people with a ton of money or large amounts of home equity skew the average much higher. If you are sitting alone with Elon Musk, someone could legitimately say the “average” net worth of the two people in the room is well over $100 billion.

By contrast, the median net worth — which is the middle value in a set of data — is far more accurate. And by that measure, a typical American is worth $260,223.

Of course, the median varies widely depending on age. Recently, Empower analyzed data on its Empower Personal Dashboard. Based on that analysis, Empower says this is how much Americans are worth in every decade from their 20s to their 70s.

20s

Man holding money and making OK sign
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This age group’s:

  • Average net worth: $90,529
  • Median net worth: $6,847

Even if you save only modest amounts, the money you put away in your 20s can have a profound impact on the quality of your retirement decades down the line.

For example, investing $5 a day might not sound like much to you. However, Money Talks News founder Stacy Johnson begs to differ:

“But invest $5 a day for 30 years and earn a 10% return on it, and you’ll end up with more than $300,000. That’s why learning to save a few bucks here and there and investing that money is so important.”

For more tips, check out “The 10 Commandments of Wealth and Happiness.”

30s

Newly married couple dancing at their wedding
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This age group’s:

  • Average net worth: $275,413
  • Median net worth: $37,831

Most workers in their 30s are well into their careers and are starting to make better money. This is the age when many people get serious about investing and building a nest egg. They may also own homes which can help add to a person’s net worth.

If you’re ready to start investing, Stacy offers some things to keep in mind in his podcast episode “5 Simple Tips to Make Money With Stocks.”

40s

happy woman in kitchen putting money in piggy bank
Alliance Images / Shutterstock.com

This age group’s:

  • Average net worth: $723,419
  • Median net worth: $137,656

Veteran workers in their 40s are moving into their prime earning years — and the jump in their net worth during this decade reflects that fact.

If you are in this age group, make sure you don’t overlook the “5 Critical Money Moves to Make Before Your 40s Are Over.”

50s

Wealthy couple
Darren Baker / Shutterstock.com

This age group’s:

  • Average net worth: $1,301,538
  • Median net worth: $307,691

Most workers in their 50s have built a decent-sized nest egg and are starting to think about their retirement plans. However, there’s a share of people in this age group who have fallen far behind in the race to retirement.

If you are lagging in your efforts to save, don’t worry. Instead, explore your options for catching up in “28 Keys to Building Wealth — Even in Your 50s.”

60s

Smiling senior driver in a car on the highway driving for Uber or carrying a passenger
aslysun / Shutterstock.com

This age group’s:

  • Average net worth: $1,635,471
  • Median net worth: $478,274

Although seniors are more likely to work today than they were in the recent past, the majority of Americans still retire in their 60s. Even if they are no longer saving for retirement, a paid-off home might help boost a person’s net worth at this stage of life.

If you are in this age group, be sure to check out the “11 Essential Money Moves to Make in Your 60s — and Beyond.”

70s

Ruslan Huzau / Shutterstock.com

This age group’s:

  • Average net worth: $1,636,000
  • Median net worth: $402,266

This is the time of life where net worth starts to decline after decades of growing. Most people in their 70s are well into retirement and that means they are drawing down the money they have saved over a working lifetime.

If you are living on a fixed income in retirement, you might benefit from reading “9 Forgotten Frugal Strategies — and How to Resurrect Them.”

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