**The U.S. median net worth is $228,833 for 60-64 year olds and $271,805 for 65-69 year olds. So, the median net worth by age 70 is over $272,000. **

This article shows the American median net worth by percentiles for people in their 60s.

Contents

## What is net worth?

Net worth is an important measure of personal wealth. Net worth is the value of assets minus all debts. It is what you own less what you owe.

The formula for net worth is: **net worth = total assets – total liabilities.**

To calculate your net worth, see Net Worth Calculator: What’s Your Net Worth?

## What is the average U.S. net worth?

The U.S. average net worth is $748,800. However, a better comparison is median net worth of $121,700.

For people in their 60s, the median net worth is $228,833 for 60-64 year olds and $193,549 for 65-69 year olds.

Age | Median Net Worth | Average Net Worth |
---|---|---|

Ages 60-64 | $228,833 | $1,187,730 |

Ages 65-69 | $271,805 | $1,250,679 |

The median is a better number to compare than the average. The median is the 50th percentile. Half of the families are above and half are below. The average is increased by large net worths in the top 1%.

For example, the average net worth of $1,250,679 for ages 65-69 is in the 83rd percentile. 83% of households are below and only 17% are higher.

It’s not what you make, it’s what you save.

Net worth usually grows with age, so it’s a good comparison for individuals. Younger people have less wealth, so it is important to compare net worth by age.

The U.S. net worth by age data comes from two sources:

- Federal Reserve Board’s Survey of Consumer Finances with income and net worth numbers from 2019. This is the latest information available from the Federal Reserve.
- Net Worth by Age Calculator for the United States from the excellent financial site DQYDJ.

## Net worth by age

The following graph shows the 2019 U.S. household median net worth by age. The Federal Reserve publishes this report every three years. The next report will be released in 2023.

## Net worth by age 70

Americans in their 60s have a higher net worth than the median.

Tips for people in their 60s include:

- pay off credit card debt
- decide when to start receiving Social Security payments
- work to be debt free
- make a budget to plan for funds needed in retirement
- invest in low-cost index funds
- decide the appropriate stock and bond portfolio allocation

People in their 60s usually have more earnings and assets than younger people. However, a few people in their 60s have a negative net worth.

According to the DQYDJ Net Worth by Age Calculator about 5% of people in their 60s have a negative net worth.

### Average net worth by age 65

The following table shows net worth by age 65 sorted by percentiles.

Here is how to understand the percentiles for 60-64 year olds:

- 25th percentile of $18,987 means that 25% are below and 75% above this net worth.
- 50th percentile of $228,833 is the median. Half are above and half are below this net worth.
- 90th percentile of $1,995,238 is in the top 10% of net worth. 90% of households are below this net worth.

Net Worth Percentile | Ages 60-64 |
---|---|

10 | $1,294 |

20 | $18,987 |

25 | $48,565 |

30 | $75,737 |

40 | $131,797 |

50 | $228,833 |

60 | $357,323 |

70 | $557,761 |

75 | $735,348 |

80 | $967,534 |

90 | $1,995,238 |

The 99th percentile, or top 1%, for 60-64 years olds is estimated at $14.6 million.

Here is the graph for net worth for ages 60-64 in percentiles.

### What is a good net worth by age 65?

Here are net worth goals for 60-64 year olds. This table is helpful to compare your net worth with your age group.

Net Worth Goals | Ages 60-64 |
---|---|

Below Average | Below $228,833 |

Average | Above $228,833 |

Good | Above $735,348 |

Great | Above $1,995,238 |

For a good net worth by age 65, aim for the 75th percentile of $735,348 and above.

### Average net worth by age 70

The following table shows net worth by age 70 sorted by percentiles.

Here is how to understand the percentiles for 65-69 year olds:

- 30th percentile of $74,900 means that 30% are below and 70% are above.
- 50th percentile of $271,805 is the median. Half are above this net worth. The other half is below.
- 90th percentile of $1,939,467 is in the top 10% of net worth by their age group. 90% of households are below this net worth.

Net Worth Percentile | Ages 65-69 |
---|---|

10 | $2,667 |

20 | $16,120 |

25 | $44,125 |

30 | $74,900 |

40 | $144,527 |

50 | $271,805 |

60 | $388,686 |

70 | $656.204 |

75 | $808,183 |

80 | $993,184 |

90 | $1,939,467 |

The 99th percentile, or top 1%, for 65-69 year olds is estimated to be $16.4 million.

Here is the graph for net worth for ages 65-69 in percentiles.

### What is a good net worth by age 70?

Here are net worth goals for 65-69 year olds. This table is helpful to compare your net worth with your age group.

Net Worth Goals | Ages 65-69 |
---|---|

Below Average | Below $271,805 |

Average | Above $271,805 |

Good | Above $808,183 |

Great | Above $1,939,467 |

For a good net worth by age 60, aim for the 75th percentile of $808,183.

## Tips to increase your net worth

Here are 15 tips to increase your net worth:

Remember, net worth is assets minus debts. So, you need to increase assets and decrease debt.

- Make savings a habit.
- Pay off credit cards fast. Avoid credit card debt if you can.
- Pay off all your debts, especially any non mortgage loans.
- Invest in stocks using low-cost index funds
- Investments are better than savings. (Use total stock market index funds like VTSAX or SWTSX.)
- Let your investments grow using compound interest. Remember the Rule of 72.
- You need a plan, so make and follow a budget.
- Invest in a retirement plan at work, like a 401(k) or a Roth IRA.
- When you increase your income, increase your investments.
- Control spending so you can save and invest more.
- Track your net worth and update it annually.
- Compare your net worth to your age.
- Increase your skills to improve your income. Learn to earn.
- Owning a home is an investment. Homeowners typically have higher net worth
- Be patient because net worth grows with age and income.

## More net worth articles

Here are more net worth articles on Finally Learn:

What is Net Worth and Why Does it Matter?

How to Build Wealth: 10 Tips for Financial Freedom

Jeff Mankin teaches financial literacy and Excel. He is the founder of Finally Learn.