How do you compare your net worth to the average for your age?


Quick Answer

First, calculate your net worth by adding up all of your assets, including investment accounts, real estate and vehicles, and then subtracting all of your debts. Next, look at the Net Worth and Asset Ownership of Households report on the U.S. Census Bureau's website, Census.gov, under the Wealth and Asset Ownership category. As of 2015, the latest available report was released in 2011. This report breaks down the median household net worth by age and in quintiles.

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Full Answer

Reported findings from the Federal Reserve state that people ages 55 to 64, right before the traditional age of retirement, hold the largest average net worth among all American age groups. The age group with the lowest average net worth is people under age 35, likely due to the costs of school, entry level jobs, debts and lack of savings. A major decline in the average American’s net worth begins between the ages of 65 and 74, which may be evidence that average Americans struggle to make their retirement savings last throughout the remainder of their lives. Inclusion of the wealthiest people in net worth reports can skew the data, so for a realistic comparison, look at the median net worth rather than the average.

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