| Age of head of household | Median | Mean (avg.) |
|---|---|---|
| Under 35 | $39,000 | $183,500 |
| 35–44 | $135,300 | $549,600 |
| 45–54 | $246,700 | $975,800 |
| 55–64 | $364,500 | $1,566,900 |
| 65–74 | $410,000 | $1,794,600 |
| 75 or more | $334,700 | $1,624,100 |
Source: Federal Reserve Board, 2022 Survey of Consumer Finances (released October 2023). Figures in nominal U.S. dollars.
Why median, not average
Notice that mean (average) net worth is roughly 4× to 5× the median in every age bracket. That gap is not statistical noise — it's wealth concentration. A small number of very high-net-worth households drag the average upward, making it a poor representation of what a "typical" household looks like.
Median is the household exactly in the middle. Half are below it, half are above. If you want to know whether you're keeping pace, the median is the number you compare yourself to.
Mean is the arithmetic average. It tells you roughly how much wealth exists per household, but says little about any individual household. When someone says "the average American is worth $X," they're usually quoting a number that fewer than 25% of households actually achieve.
What this number tells you (and what it doesn't)
It tells you: are you on pace
If your net worth materially exceeds the median for your age, you're ahead of the pack. If it's well below, you have ground to make up — but the gap is closeable with savings rate and time.
It doesn't tell you: when you can retire
Retirement readiness depends on your spending, your projected returns, your tax situation, and where your wealth is held (taxable vs. tax-advantaged). Two households with identical net worth can have very different FI ages.
It doesn't tell you: where you should be
The median is a description of how Americans actually do, not a prescription for how you should do. Plenty of "median" households are not on track for the retirement they want. Comparison to a forward-looking projection matters more than comparison to a backward-looking population stat.
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