Here is the average net worth by age, according to the Federal Reserve Consumer Finance Survey. Enjoy! Add me on Instagram: GPStephan | GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: http://grahamstephan.com/newsletter
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AVERAGE NET WORTH BY AGE IN 2023:
From Ages 18 to 24:
Median Net Worth: $8,216.04
Average Net Worth: $28,707.13
Top 1% Net Worth: $435,076
My Thoughts:
First, go and get yourself a credit card with no annual fee.
Second, make sure you also open up a Roth IRA or contribute to a 401k.
Third, try to have 2-6 months worth of expenses saved up in cash.
From Ages 25-29:
Median Net Worth: $7,511.60
Average Net Worth: $49,387.83
Top 1% Net Worth: $606,188.36
My Thoughts: For most people, your priority should really be about finding a long term career, building to your strengths, and working as much as you can to maximize your income.
From Ages 30-34:
Median Net Worth: $35,111.76
Average Net Worth: $122,699.69
Top 1% Net Worth: $956,944.74
From Ages 35-39:
Median Net Worth: $55,519.42
Average Net Worth: $274,112.44
Top 1% Net Worth: $4,034,486.45
My Thoughts:
First, aim to COMPLETELY get rid of any bad debt, credit card debt, or high interest loans.
Second, you should try to save AT LEAST 20% of your income.
Third, your net worth should be 4x your annual expenses, or 2x your annual income.
From Ages 40-49:
Median Net Worth: $164,196.96
Average Net Worth: $761,560.21
Top 1% Net Worth: $10,494,100.10
First: You should consider buying a home.
Second: You should, if possible, max out your retirement accounts.
And Third: If possible, aim to have AT LEAST 5-7x your annual spending invested.
From Ages 50-59:
Median Net Worth: $171,320.07
Average Net Worth: $1,165,476.62
Top 1% Net Worth: $17,545,848.60
First, you’ll need to closely track your expenses.
This will give you the best understanding in terms of how much you’ll need in retirement, and how much more you’ll need to save to get there.
Second, depending on your situation, you should be about halfway through paying off the mortgage on your primary residence.
From Ages 60-69:
Median Net Worth: $271,805.38
Average Net Worth: $1,250,768.99
Top 1% Net Worth: $16,439,046.11
First: You’ll most likely have already paid off your mortgage.
Second: Spending begins to DECLINE after the age of 65.
Even though it might sound depressing, research suggests that “worsening health associated with aging reduces the need or desire for some types of spending such as trips and vacations” – so at least the bright side is that you can save a little more, if you haven’t done that already.
Third: Now is the time where you can begin withdrawing from your retirement accounts without any penalties.
All of this is meant to get you to realize that, at the end of the day – even though net worth is something to consider – a much more reliable indicator of “financial independence” is simply: How much you have invested, relative to how much you spend.
It’s all about starting this as soon as you can, even if you’re behind, and then working within your means to understand what you need to do to reach your future goals.
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Hey everyone! This year, all videos will have a link containing the source material for each piece of research that’s cited. I do my best to make my videos as accurate as i can, and the additional resources should help for anyone who wants to look into them further – enjoy! https://docs.google.com/spreadsheets/d/1Fhgk5AlXn1l7VKYLmrjMGU84knQIROf7VBlLS_-i9q0/edit?usp=sharing
Is this per household or per individual??
Wen collab
Great video Graham! Thank you
I’m definitely saving this. Will probably end up becoming a financial expert soon.
I read articles about how most people retire with a net worth of $1 million dollars or $1.5. Million dollars and have live off on interest of earning $40k a year plus interest from bond’s they make $46,700.00 a year and also realestate bond’s of making $60k a year so they don’t touch the principal net worth of their own money they only touch the money they earned through these three things only what do you think about that.
We are all slaves to this out dated monarchy==capitalism
If we ALL STOPPED working for these lords==CEO then this feudal system ends
Slave ship, some of us might not make it but none of our oppressor will see tomorrow
This advice, the whole shebang, will trap you in the rat race, forever. Avoid credit cards and personal loans, don’t bet the house on the stock market because you can’t control volatility of markets and it won’t make any difference unless you invest a significant amount monthly. Also, if you get a mortgage you’re done, specially now, and you will carry this debt for 15-30 years. Get a job but you should create a business without losing control and using leverage. Have some savings for rainy days, and bootstrap as much as you can your business. Getting Angel and VC money is a tricky endeavor. But hey, this is just my opinion, you go ahead and build credit with credit cards… it’s a trap. Being there done that.
You have to consider heritage in these statistics.
The old people got all the houses when they were cheap. That is why their net worth is so high. Nobody under 35 can afford a house anymore. Rigged system. Will be renters forever.
people over 35 can’t afford a house anymore
Absolutely 100% correct – in what is the most important = “Difference between your expenses and what you have coming in for retirement”. My wife asked a good friend we had years ago? What is it like to be a Billionaire? He answered – well anyone and everyone can have that same feeling. “Just live below your means = spend less than you have coming in”. Terrific advice from 25 years ago and still true today.
When we talk about net worth for someone who is married, doesn’t it mean half of the shared net worth?
Excellent. Forwarding to my adult children. Thank you!
Click bait thumbnail 👎
Go ahead and by a Lambo. Lol. Well seriously,why not?? Why do many feel obligated to save it for adult kids that will abuse free money anyways? 😊
If these stats are true glad to see I’m above average , lol . Not rich but I moved out at 18 not 25 like you thought was a problem in that age group
Very house and land rich and cash poor at 62′ house and land $825k Cash savings under $5k can’t afford to retire
Wow, people are really poor
12:07 Those dang Millennials!! HAAA! 😃😃😃
“Every hundredth 65 yr old has a net worth of $16M” is a startling statistic.
Your telling me every hundredth 65 year old has a net worth of $16M? Thats a huge takeaway!
It’s definitely all about what you spend. I have three family members that are in the top 10% of earners nationwide. Two have been bankrupt and the other would’ve been without some help all while making that money.
31 years old and my net worth is probably 0 😂. I owe 52k in student loans (not paying because no interest but will pay off as much as I can once it starts). I own a Toyota Corolla so estimate.. 20k maybe? No home. 700-800$ in a 401k. And about 20-30k in the bank. Not currently working so of course it’s decreasing. In nov everything was the same but bank had around 60k so I May have had about 30k net worth.
start an Onlyfans
Im 32 making 85k a year and my networth is 310k. I think I’m average.
Yeah I don’t believe these statistics for a second.
This was encouraging. Im 32 with a net worth of 430k. Looks like I’m on the right track!
what do you do?
Love these videos, and truly appreciate your citations.
❤
You shouldn’t count your car as an asset if you’re not factoring in depreciation.
Please check the spelling of “calculate” on your video!
Money means nothing. It’s time that is far more important.
money means you can buy the things you need to live
If your house is valued at $400,000 and you owe $200,000 in your loan, then you have a $200,000 asset, not liability.
Every time I come across a video like this its never really clear on if we’re talking about an individual or a household. So here, I’m assuming your talking about an individual so an typical household net worth at say age 60 would be 2x what you present here.
This video just shows me that I’m on the right track, good thing I started investing at 19
This video makes me feel good.
Did you know time is the only stable universal and accurate currency known to Humans you don’t have to kiss 💋 anybody else’s PRIVATE CURRENCY Assets to produce and TRADE ourselves ?
Slow Ed CO-Nomics. Squirrels don’t pay rent and the experts are baffled. I own your time, I own you. How much is enslavement worth ?
If you went to college your gonna need time to think for yourself.
I’m 28 and I have a net worth of -$14,000 🫠
It seems extremely unlikely that most people in their mid 20s to mid/late 30s aren’t in a negative net worth if you’re subtracting mortgages to calculate net worth.
25-29 less median than 18-24 wow.
35-39 how is net worth so low. Where are we getting these people
What 😯 s the point of having a net worth? I never plan to pay off my home before I die, but it is cheaper than an apartment? As long as I have enough money to pay my bills in the long run I’m ok.
Why not just give us an average net worth by income?? I only make $60k so how would I even stand up to people over $100k a year??
I think its great you showed median and mean. Because lot of news sources obscure the reality of the financial crisis in this country- by using that ‘average’
Current Consumption matters as well as net worth. Not everything has to be deferred!!
This is basically bog-standard advice, nothing original. And it’s actually wrong. A consumed dollar in your 20s has much more potential and impact typically than a consumed dollar in your 70s.
I have a negative net worth in my 30s but I did everything in my 20s 😂. Still single, no kids, thank God. Let’s gooooo.
These numbers are not achievable for a lot of people 😆😆
I’d like to see more videos on personal finance for people who have a limited income. I make $25,000/yr from part time work + disability. I bought a condo last year with $17k down (and a free $6,500 grant as well as some other government downpayment assistance), I have some money saved in a roth IRA, and I don’t have any debt but I still feel like there’s no way for me to really get ahead financially. I do manage to save at least $200 each month but that’s not much.
Your hand movements are annoying and distracting. You don’t need wild hand gestures to engage your audience. It’s financial literacy. They don’t give Academy Awards for that category.
Well, being 25 with a net worth of 120k I feel a lot better
No your not lol
yeah but what if you invested in FTXUS? would that make your net worth go down?
A super depression will happen this year. It will make the great depression looks like child’s play. It will mostly happen in the western world.
Does this still apply for a family with only one income earner? If so, then we are doing much better than the average in our age bracket (35-39). Our net worth is more than 4x spend.
I am not average.
I turned 27 this month and am officially at a net worth of 0$.
5k bad debt, 25k state student loans, 28k equity in house, and 2k cash.
Running against the grain, my best years was when I was poor and struggling. I had much better heath than I have today. The more wealth I have, the more I concern myself with it.
💯 I couldn’t agree more
I wasn’t born into a financially savvy family and was never a high wage earner. I wasn’t able to save a lot at a young age and did not really start saving through my jobs 401K until I was 38 years old. I am now 60 years old and my net worth is about $400,000.00 and I am debt free. I am not where I need to be, but thankful that I was able to save this amount for getting such a late start. I wish I knew then, what I know now about finances!
I love this! Someone please make the canadian version lol
I want to get into stocks what I have nooo clue about stocks. I’m 42 years 🤦🏽♀️
When you retire you should have two budgets. The first is what you have to spend. This is for if things hit the fan and you need to cut back to just taking care of the bare minimum to survive. The second budget is during the good times and you can afford to spend far more freely. This does not mean you can go crazy you still need to stay within the budget.
I am not retired yet but consider my self semi retired. I’m not old enough to retire as I am only in my mid 50s and my benefit package at work is just way to good to leave. The company pays like 95% of my health insurance and I am maxing out my ROTH 401K and ROTH IRA. I dont make all that much so the retirment accounts are a major drain on my paycheck as such I am being forced to draw down my taxable investment account every month. My low end budget is $3,500 im still paying on my morgage, and my high end budget is $6,000. So during the good times I do have a really good amount of fun money I can spend if I wish to but if the market crashes I can really drop my spending massively.
25 here, no college degree. You don’t need college. You need to be determined and work hard.
Sweet so I’ll be dead before I can pull my money out 😂
Why is the thumbnail a picture of bill bellicheck
Something about watching a wealthy young dude giving tips about how to save over a lifetime, what he made last year, leaves a bad taste in my mouth. And his hands move too much, maybe trying to air-dry all the sweat.
I subbed, then unsubbed after noticing the Andrew Tate-like car and watch. There’s plenty of smart content out there from people without values problems.
People are living pay check to paycheck. Imagine them saving $416 a month for 45 years straight for retirement. That isn’t happening and isn’t going to happen. Life is way to expensive for most people.
Old Graham clickbait! Ha ha ha!
Graham we appreciate the quality content you always post! Keep crushing it, knowledge is power 🙌🏻
I thought George W. Bush was given investment advice.😂
Great Video!!
I am skareeeeeewed
The Mr. Money mustache chart is not accurate.
im 37 and have a net worth of 280 dollars with 0 debt.
I’m a 24 year old with a $200k net worth way to make me feel good about myself Graham!
35-39 top 1% 4 million？ can 1.5 million jump in top 10% ?😂
Americans are rich.
For the 40-49 ranged, when you refer to saving 5-7x expenses, did you mean annual expenses?
I owe my dad for setting me up. He let me live in his basement suite into my 30s. However, he also encouraged me to buy a rental property at 26 years old. It was a nightmare for several years. I wasn’t making much money then and when all my friends were having fun, I was buying a new refrigerator or dealing with a vacancy. But now all these years later, I have a lot of equity and a job with much higher income. I am currently living paycheque to paycheque making nearly $200,000 per year but build a portfolio of five rental properties over the years. I’m 46 years old now and still have the rental properties without ever touching a dime. I think that made a significant difference because I considered those investment properties, my retirement income. I wasn’t willing to take money from my older self. Now I’m married with four kids and have a good life plus the security of those investment properties to fall back on when it becomes time to retire which could be earlier than most. My suggestion is buy and hold investment real estate long-term and never touch the equity unless it’s to invest in something else
Nothing is as sweet as financial freedom. True dat!
Is this INformation Household OR INDIVIDUAL
Mortgage , car loan, CC debt? All bad ideas. Never had a mortgage or a car loan, tried the CC thing for a few years and didn’t like it. My biggest nut to crack right now are my 7,000 plus property taxes. Over 500 a month to live in a place that I paid for in cash at settlement
must be nice
So then I’m at negative net worth then… okay lol
You might have paid $30,000 for a car,but that is not neccessarily what you would get for it second hand….if its a “fire sale” even less,the same applies to the property,you get what someone is willing to pay, quite why anyone would have $10,000 in cash in the bank with inflation eating into it is beyond me…..not so much net wealth as “NOT WEALTH”…..😂😂😂😂
Systems rigged
Distinguishing between money management and wealth accumulation is crucial, and the absence of comprehensive investment education in educational institutions could contribute to the challenges individuals face in sustaining their financial progress. The instances you highlighted are indeed pertinent, and I have personally found value in navigating market downturns, appreciating their potential as opportunities. It’s worth noting that my advisor shares this perspective as well, albeit in a lighthearted manner.
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
The adviser I’m in touch with is ‘Margaret Johnson Arndt’ He works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me his strategy works hence my result. He provides entry and exit point for the securities I focus on.
Ill be a billionaire one day. I guarantee it.😊
Use spell check “calculate”
Inflation and economic collapse is going to be such a RUDE AWAKENING for all of you, especially you Graham.
If you wanna be successful, you must take responsibility for your emotions, not place the blame on others. In addition to making you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There’s always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life…
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional
@@MarkFreeman-xi3rk I’ll recommend Expert Mrs. Margaret Johnson Arndt to you. She’s the best I’ve seen. She trades my fx account and makes me good profits weekly.
I’ve been in touch with a financial advisor ever since I started my business. Knowing today’s culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
I trade as a side hustle while keeping my job. I’m tired of trading in losses myself. I’ve blown my account twice and it’s frustrating. I see people making a living out of trading and I want to do the same. Please can you recommend me a reliable Advisor?
Cost of housing, health care and education is killing 70%.
30k at 16
Not moving out or paying your own phone bill at 18 is wack
😂😂😂😂😂
Dave Ramsey would be really angry at the Credit Card part. 😅
😢 Still holding 9 k in dodge coin😢
Me. 62. Retired.
High school dropout
Laborer all my life
Paid for home
$4100. Take home pension
No debt at all. Large bank.
Never done drugs.
Travel the world.
Life is good
Watch Caleb hammer and you so know why people are pay check to paycheck
51 years old. I have $295,588.25 in my Fidelity retirement account. I cranked my contributions up to 35% and I do all the investing on my own. Fidelity just holds my ETFs/stocks. I made that change earlier this year. I’m hoping to end the rat race by 60 but it’s looking more like 63-ish. I want to have $1.5M and bring in about $60k in dividends each year. Pedal to the floor!
Investors should exercise prudence when managing their exposure and evaluating fresh investment opportunities, particularly in times of inflation. It’s wise to seek counsel from a seasoned professional or a trusted advisor to steer through economic downturns and potentially attain robust returns.
I agree, having a portfolio-advisor for investing is genius! Not long ago amidst the pandemic crash in March 2020, I was really having investing nightmare prior touching base with a license portfolio-advisor. In a nutshell, i’ve accrued over $550k with the help of my advisor from an initial $120k investment thus far.
@@spacecadet6 Wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio
I’m guided by “Camille Alicia Garcia” an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.
This reference seems valid.. Just looked up her full name on my browser and found her webpage without sweat, over 15 years of experience is certainly striking! very much appreciate this.
Oh how this has aged well with outrageous mortgage rates
“get rid of bad debt – aka over 6%+ debt”
60! Is when you retired
Painful
All about the spending. 100%
Hi! I’m excited to be here in your channel and I’m interested in learning more about investing and saving up for my retirement but am a little confused about the whole process. Any advice or tips to get me started up would be greatly appreciated.
i think to say that your net-worth has “nothing” to do with how much money you make is obviously false
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I’m worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market’s volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
Consider investing in stocks especially during a recession . While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you’re cautious. Just remember, this is not financial advice, but it’s a good time to think about buying stocks since having cash on hand isn’t always the best option.
Indeed! With the help of a skilled coach, my investments transformed from $321k to over $750k, largely through stocks, ETFs, and bonds. I expect housing prices to remain steady until more homes become available.
@@emmaarmandothis is definitely considerable! think you could suggest any professional i can get on the phone with? i’m in dire need of proper portfolio allocation
I’m guided by “Camille Alicia Garcia” an experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing…