Worried about your financial future? You’re not alone. We’ve compiled data from the latest Federal Reserve Survey and broken it down into easy-to-read graphs and charts.
You may be surprised that most people don’t reach their peak net worth until they hit their late 60s! But don’t worry – there are plenty of things you can do to increase your net worth today.
First, it’s essential to understand that the answer to your net worth by age may vary dramatically, depending on whether you are trying to answer this question using the average or median.
From a mathematical perspective, the term “average net worth” refers to the total sum of every individual net worth divided by the total number of individuals. Average is also defined as mean or arithmetic mean
– Value in your bank accounts, savings accounts, and emergency fund, including interest-bearing accounts like I-Bonds.– The total value of brokerage accounts used for investing in stocks.