Average Net Worth by Age: How Do You Measure Up?

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Average Net Worth by Age: How Do You Measure Up?

//business-finance.news-articles.net/content/202 .. rage-net-worth-by-age-how-do-you-measure-up.html

Published in Business and Finance on Tuesday, December 3rd 2024 at 7:00 GMT by Bill Williamson
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Have you surpassed the average net worth of your peers? Get tips from financial advisers on how to grow you wealth over time.

The article from Kiplinger discusses the average net worth by age in the United States, providing insights into how individuals' financial standings compare across different life stages. It highlights data from the Federal Reserve's Survey of Consumer Finances, showing that net worth generally increases with age, peaking in the late 60s to early 70s. Key points include the median net worth for various age groups, with younger adults (under 35) having a median net worth of about $13,900, while those aged 65-74 have a median of $266,000. The article also touches on factors influencing net worth such as income, debt, homeownership, and retirement savings. It emphasizes the importance of understanding these benchmarks not as goals but as context for personal financial planning, encouraging readers to consider their own financial strategies in light of these averages.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/retirement/average-net-worth-by-age-how-do-you-measure-up ]

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