The average American in their 50s is worth $1.5 million, but most have far less
Average net worth for Americans in their 50s is $1.5 million, but median wealth is far lower.
New US federal data reveals a stark gap between average and median wealth. The average American in their 50s is now worth $1.5 million, while those in their 60s average $1.96 million.
Statistics show these numbers are misleading. The median American household has a net worth of just $216,100, a figure pulled down by millions who own very little.
The disconnect happens because the super-wealthy pull the average way up. Rising home and stock values since 2019 have turbocharged older and richer Americans' wealth, especially during the pandemic boom years.
Americans in their 20s and 30s, by contrast, are getting poorer in real terms. Average net worth fell for those in their 20s and 30s as student debt and soaring house prices eat their savings.
The median first-time home buyer is now 40, the oldest on record.
- $1.5 million
- Average net worth, 50s
- $216,100
- Median household net worth
- 37%
- Median net worth growth 2019-2022
- 40 years
- Median first-time home buyer age
Why it mattersThese figures show how average wealth is a misleading measure, the super-rich distort it upwards, while most people hold far less than headlines suggest. It matters to anyone saving or investing.
AustraliaNo direct Australian effect, but it highlights how wealth inequality works and why median figures matter more than averages when planning a financial future.
✓ Claims checked against the source and corrected before publish. checked 56 min ago
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