average net worth based on age

[retireby55]

According to CNN Money 2014, the average net worth for the following ages are: $9,000 for ages 25-34, $52,000 for ages 35-44, $100,000 for ages 45-54, $180,000 for ages 55-64, and $232,000+ for 65+. I find that very low. What do you think?

Does anyone mind sharing sharing their age and net worth, and how long it took to accumulate your current net worth, just for comparison?

[Nutria]

According to CNN Money 2014, the average net worth for the following ages are: $9,000 for ages 25-34, $52,000 for ages 35-44, $100,000 for ages 45-54, $180,000 for ages 55-64, and $232,000+ for 65+. I find that very low. What do you think?

Does anyone mind sharing sharing their age and net worth, and how long it took to accumulate your current net worth, just for comparison?

Remember that there are lies, darned lies and statistics.

The 100M people on some sort of government assistance can't have very many assets, so they drive down the national average.

Then there's all of the single mothers struggling to make ends meet. Their net worths are pretty low, too.

And all of the working middle to lower-middle income couples: kids, a mortgage, medical bills, home repair, auto, etc, etc really eat into a couple's income, and thus their ability to accumulate assets without also accumulating debt.

And then there's the huge industry who's sole purpose is to make you spend, spend, spend on $4 lattes and mani pedis that you deserve because you work hard, while convincing you that you only need to make the minimum payment every month.

And then there's that trillion dollars in student loan debt.

What would be better is to see those age ranges broken into quintiles based on economic status.

[QuarterMillionMan]

I'll play, 49 and just over $400,000 in net worth. I got a late start so it's only been my last decade when I seriously started saving but it's better late than never.

[Nutria]

I'll play, 49 and just over $400,000 in net worth. I got a late start so it's only been my last decade when I seriously started saving but it's better late than never.

Eliminated your high-interest consumer debt? When that's done and the kids are out of the house is when you can (hypothetically) really kick the savings into gear.

[rennigade]

Im 32, wife is 31. Our net worth is more than it was a month ago.

[Nutria]

Im 32, wife is 31. Our net worth is more than it was a month ago.

Good for you. I sure as heck had no actual desire to pay more than lip service back then.

[feh]

Does anyone mind sharing sharing their age and net worth, and how long it took to accumulate your current net worth, just for comparison?

Not sure how this would be useful - such a small sample set.

There's a large annual survey over on bogleheads.org about net worth. Of course, the folks that respond to that survey (hundreds of people) are not representative of the public in general. Lots of high earners and good savers over there.

Another thing to consider - medians are probably more useful than averages. At any rate, I don't know why you wouldn't trust the numbers in the CNN article.

[bjl584]

According to CNN Money 2014, the average net worth for the following ages are: $9,000 for ages 25-34, $52,000 for ages 35-44, $100,000 for ages 45-54, $180,000 for ages 55-64, and $232,000+ for 65+. I find that very low. What do you think?

Does anyone mind sharing sharing their age and net worth, and how long it took to accumulate your current net worth, just for comparison?

just turned 37 and right around $300,000.

[MonkeyMama]

Our net worth was 50x larger than average.

This doesn't surprise me. Most people just don't save. Period. I would call us efficient and savings focused, but I wouldn't even call us mega savers. We've cut back income and savings significantly to raise our children. We were probably mega savers age 16-25, but you know, our income was also squat in that time. But we did avoid debt and saved most our income in those early years.

[phantom]

I'll bite. My husband and I are 36 and almost 33. Our net worth is about 380k (including our house and cars). When we got married and bought a house 6 years ago, my husband's net worth was around 0 with retirement accounts and student loans pretty much canceling each other out, and my net worth was around 50k with a nice downpayment for a house and a small IRA offset by student loans. Our salaries are up about 50% since we got married, and that's been responsible for our increased net worth more than anything else.

I don't think the given numbers sound all that low. There are so many factors that go into net worth that it's hard to know what to expect the averages to be. Everyone starts from a different number, cost of living and salaries vary greatly, and different people have different goals.

[disneysteve]

Any idea how they are calculating net worth? What are they including in that number?

[disneysteve]

I'm at work so don't have exact numbers handy but roughly:

I'm 50. DW is 51.

Our basic net worth is about $825,000.

[retireby55]

Got that information at:
financialsamurai.com/the-average-net-worth-for-the-above-average-person/

[Eagle]

We're 32 and 31 respectively. We probably have a net worth of about 260k including house, cars, emergency fund, and investments.

[bjl584]

I'm at work so don't have exact numbers handy but roughly:

I'm 50. DW is 51.

Our basic net worth is about $825,000.

The million dollar mark isn't far off. Year and change maybe? Quite a milestone to reach.