Average Net Worth by Age | How Do You Compare?

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#networth #investments #savings

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DISCLAIMER: I am not an expert or a financial advisor. I simply love talking about finances and want to share my journey to financial freedom and help others along the way!

[LeeBason]

4 months short of 70. No debt. Net Worth with home = 9, 489, 124. Without home = 8, 116, 324. Thoroughly enjoying your channel and hoping that many younger folks will follow your example.

[carolinew]

I hope everyone who watches this video sticks around for the end. Such good and grounded advice. I’m 23, so near the beginning of the 20s bracket (and only one year post-grad). I get caught up in comparing myself to “averages” when in reality, I should be comparing my future self to my current self and my current self to my past self. Thanks!

[darlenem]

I will be turning 62 in less than a week; I have just over 2.5 m net worth with my only debt of 38, 000 on farm land that I inherited from my dad as I had to buy out other family members who did not want to keep the land. That is the balance that I owe, as originally I owed 125, 000 so I have paid off a lot of that loan in the last 10 years using only the funds I make from the farm land itself (I cash rent the land) and not from my personal income. I recently retired at then end of December 2023, however, I am a widow so I was able to receive my husband's Social Security Funds early. I am considering paying off the 38, 000, but I want to discuss with my tax attorney to see what is the best option.

[KatieoftheHouse]

Great video, Leila!
We’re in our mid 30s, and had a NEGATIVE net worth of almost 200K the first time I tracked it, nearly 10 years ago. Now we are right around a positive 500K, so a decade can certainly make a HUGE difference. We do count our house value though, and that has played a big part in the growth, especially since we were lucky and bought at the beginning of 2020.

[singleparentfire]

I track my netwoth every month because I’m a nerd but my current net worth at 40 years old is approx. 670K. I’m also a single mom of a special needs child.

[ventureswithvee]

i’m in my early 20s with negative net worth because of student loans. thank you for including median numbers! looking at just average net worths can definitely be misleading

[rubyrocks]

As someone in my late 30s who didn’t reach a positive net worth until 2022 (mostly due to car and student loans), I love watching these kinds of videos to stay accountable and make sure I’m on track. Thanks for including the median amounts too! It’s crazy how large the gap is between average and median numbers. Based on the people I know, I feel like the median numbers are more common. My husband and I are both 37 and our NW is currently 170k (not including cars). We don’t own a house. Thanks for the video!

[BaseballCardPhanatic]

Thank you for another great video! I’ve know I’ve told you before but I really enjoy your videos and always look forward to them😊. It’s easy to play the comparison game but only you can know what your spending habits are and what you’ll need in retirement. The big keys are to have no mortgage and no consumer debt. That’s a game changer and you’ll be able to live on much less. Also, you need to have a plan for your health insurance if you’re retiring before 65.

[Alliebrad]

25 and a little over $46k!! My mom taught me young to have good money habits so I’ve never had debt or student loans, but I’ll start applying to CAA schools next year and that will be around $140k of student debt 😅 I’ve watched channels that are PAs and CAAs who’ve paid off their high student loans in about 3 years so I won’t be to worried about it (yet)

[tross]

Started with a negative net worth at 22…now 34 with a wife and two kids and at $1.2m… all from hard work, investing and living below our means! So easy a caveman can do it

[ehderguyyashootadeerorno]

Great info. When I got my first job out of college I started a spreadsheet. Track my income over the years, how much i put into each type of account (401k, IRA, brokerage etc). Also kept track of what percentage i saved each year, and total dollars I saved. I also keep notes on the side. I've always said a lot of those people who have all the fancy things at a young age will be the same people at 60 that say how can anyone afford to retire. My wife and I are 38 with a net worth of almost $800k which includes a brand new house, 80 wooded acres and investments/retirement.

[ytsejam]

Just turned 50 with 1.3m. Track it quarterly, started paying off debt and paying attention to finances about 13 yrs ago. Should have the mortgage paid off next month! 😊

[LaTonyas_Library]

I was at -($45.5k) at 24yrs old mostly due to student loans. Reached $71.5k at 29 with a pretty average salary. I would have been happy to reach $100k by 30.

But after receiving an inheritance following the death of a loved one, and a jump in salary, I have $218k and will be turning 30 next month.

[hay]

45 years old Approx net worth is 780 to 800 k with a mixture of home value and various accts sf etc. house is paid off and no debt. 529 accounts 401k Roth 401k Roth IRA and traditional IRA. Brokerage acct, HSA and ESPP through work

[ReggieBryant]

Hey Leila! Great video! My NW is 134K as of last month, age 29 😃

[mybdayis]

Age 29 here NW 213k, not including car or valuables items

[mgmwinz]

Where are these averages coming from. That’s like the top 5 percents net worth at those ages

[lberhold]

Median is quite arbitrary... If everyone is poor, and you're slightly less poor, that's not beneficial. Determine what you should have to provide you financial independence, then keep track of the future value as time goes on, i.e. if inflation is 3% and the value at determination was $1M, then the next year would be $1.03M. Remember to compound that number every uear with inflation to determine needs. Net worth is also arbitrary, since IRR, or ROE/ROI are what really matters. A 10% return on 500K is greater than a 2% return on $1M.

[The_Fancave]

Hey Leila, great video by the way! I wish I had your level of financial understanding when I was your age. I'm 40, with a net worth of $140K, ($155K or so with my car, but as you had alluded to; I left that out since it's a depreciating asset that I need, and plan to keep forever, as are my bikes). I have an Excel spreadsheet with my finances that I update on a weekly basis, yes, I'm extremely OCD. I printed out the sheet from 2017, when I was 33, still had student loans, had just financed a new car, and had a negative net worth of -51K. I keep that in the back of my clipboard as a reminder and inspiration that there's always a light at the end of the tunnel. My assets include a combination of a brokerage account with index/mutual funds, hand picked stocks, a 401K, an IRA, company stock, and $10K in a high interest savings account as an emergency fund. I currently have zero debt, and hope to keep it that way.

[gabrieliacoboni]

750 K net worth with debt being mortgage and two small car payments. Wife is 38 and i am 37. She has a pension coming, we havs IRAs and a 401k and also a taxable brokerage account. We are blessed to know we have sizeable inheritances coming and we live simple and frugal lives.

I track my net worth monthly. Some would call it compulsive. I call it prudent.