The Federal Reserve's Survey of Consumer Finances (SCF) publishes net worth data every three years. The most recent data (2022) shows average household net worth of $1,063,700. That sounds like Americans are wealthy. Then you look at the median: $192,700. The top 1% pulling the average up so dramatically tells you everything about wealth distribution in the US.
Net Worth Benchmarks by Age Group (2022 Federal Reserve Data)
- •Under 35: Average $183,500 · Median $39,000
- •Ages 35–44: Average $549,600 · Median $135,600
- •Ages 45–54: Average $975,800 · Median $247,200
- •Ages 55–64: Average $1,566,900 · Median $364,500
- •Ages 65–74: Average $1,794,600 · Median $409,900
- •Ages 75+: Average $1,624,100 · Median $335,600
The median is the number to pay attention to. Half of Americans have more than this, half have less — it's not distorted by billionaires. If you're under 35 with $39,000 in net worth, you're at the median. If you have $100,000, you're beating most of your peers.
Calculate Your Net Worth
A Better Benchmark Than Age: Income Multiple
The "Millionaire Next Door" formula suggests your net worth should be roughly: age × gross annual income ÷ 10. If you're 35 earning $80,000: target = 35 × 80,000 ÷ 10 = $280,000. This adjusts for income — a teacher and a software engineer have different accumulation expectations at the same age. Below this line is under-accumulating; above it is prodigious accumulation.
Primary residence equity counts in net worth, but it's illiquid. For retirement planning purposes, track your investable net worth (financial assets minus all debts) separately from total net worth. The investable number is what generates retirement income.
The Wealth Gap Is Bigger Than These Numbers Suggest
The top 10% of households hold 67% of all wealth in the US. The bottom 50% hold 2.5%. These statistics don't invalidate personal finance — they make it more urgent. The wealth gap means that people who build smart financial habits pull further and further ahead over time, while those living paycheck-to-paycheck fall further behind. Compound interest works in both directions.
Don't optimize for beating the average. Optimize for your own number: the investable net worth you need to fund the retirement income you want. That's the only benchmark that actually matters for you.