Most Americans' Median Net Worth Isn't Over $100k Until They Reach This Age Range

As the wealth gap in America continues to grow, and the middle class continues to vanish, more and more people might wonder how their net worth stacks up against others. This can be especially true when attempting to social reference with those around you. While it's natural to want to compare yourself to others, it can also be a double edged sword if you find that your financial situation isn't as rosy as, say, your neighbor. However, there is also something to be said for only comparing your financial situation with those in your same age group who might have had the same amount of time to accumulate wealth as you — provided you aren't adversely affected by the country's ongoing racial wealth gap.

While $100,000 in today's inflationary economy might not go as far as it once did, it can still serve as a milestone for many Americans, especially when it comes to net worth. Net worth is, at its simplest, your assets minus your debts. This can include everything from your savings accounts to your investments to your properties, minus any credit card, student loan, or mortgage debt you might owe. While this can certainly be helped by your annual income, it is a wholly different financial metric than salary alone and can provide a fuller picture of a household's overall financial picture. For those seeking the tipping point of when their net worth might surpass $100,000, most Americans don't reach the milestone until they are at least 35 years old, according to the Federal Reserve.

According to the Federal Reserve's Survey of Consumer Finances, as of 2022 (the latest available year of data due to the fact the survey occurs every three years), the average net worth of U.S. households was $1.06 million. Interestingly, this was a noticeable increase over the previous survey data in 2019, which showed U.S. household net worth around $866,000. However, it's important to realize that the average net worth of most Americans is in stark contrast to the median net worth due to the fact that ultra wealthy households drive up the average in a considerable way. When looking at the median net worth of U.S. households –- or the middle point of all net worth amounts -– in 2022, the total drops down to around $193,000.

Dividing up American household net worth by age paints a more specific picture of how, and when, wealth accumulation typically happens in the U.S. For starters, the median net worth of those under the age of 35 was around just $39,000, and peaked between 65-74 at $410,000. After 75, the median net worth of households dips back down due to the lack of work income for most retirees. Americans should expect their net worth to surpass $100,000 between the ages of 35-44, with the median net worth of this age group coming in at around $135,000, according to the Fed's 2022 data. That number steadily rises, reaching almost $247,000 for those aged 45-54, and about $364,000 for those aged 55-64.

It's important to realize that overall median net worth numbers are only part of the larger picture of how Americans have, or don't have, wealth. In fact, many U.S. households are largely left out of the country's more traditional wealth accumulation schedule. For starters, the median net worth of all Black households in the U.S. in 2022 was just $44,000. This is in stark contrast to white households who had a median net worth of over $284,000. Similarly, Hispanic households had an average net worth of just $62,000.

Another important consideration for net worth is the makeup of each individual household, and how different members can affect overall totals. For instance, dual income no kids -– also known as DINKs –- had the highest net worth of all family groups, with a median of almost $399,000. In comparison, single individuals under the age of 55 without children had a median net worth of just $20,000. Meanwhile single parents with children had a median of just $50,000 compared to a couple with children boasting a median net worth of over $250,000.

Perhaps unsurprisingly, U.S. households with college degrees boasted considerably higher median net worth numbers than those without. In fact, the median net worth of those with a college degree was over $464,000 compared to $107,000 for those with a high school diploma. Those who did not complete high school were left even further behind, with a median net worth of just $38,000.