What Is the Average Net Worth at Retirement?
The average net worth at retirement in the United States is around $1.2 million, according to the Federal Reserve's Survey of Consumer Finances. Median net worth is much lower, typically below $300,000, because a small number of households hold a large share of total wealth.
How Does Net Worth Change with Retirement Age?
Net worth generally rises with age as people save and pay down debt. By the time households reach the 65–74 age bracket, median net worth is higher than for younger groups. After age 75, net worth often declines as retirees draw down savings for living expenses.
What Factors Influence Retirement Net Worth?
Key factors include income history, homeownership, retirement account balances, and debt levels. Access to employer-sponsored plans and consistent contributions over a long career help build wealth. Unexpected costs, such as health care or long-term care, can reduce net worth in retirement.
For more detailed data, see the Federal Reserve's Survey of Consumer Finances at https://www.federalreserve.gov/econres/scf.htm.
