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Fed data shows how Americans nearing retirement are positioned on savings, debt, and overall net worth.
Americans ages 55–64 have a median net worth of $364,270, placing them near the top of the wealth curve heading into retirement.
At this stage, wealth is often tied up in home equity and retirement savings, even as many households continue to carry debt.
Nearly 78% of Americans ages 55–64 own a home, but only about 57% have a retirement account, leaving many reliant on housing-related wealth.
Americans ages 55–64 are nearing what many consider their peak earning and saving years, making this a natural moment to take stock of how their wealth compares with other age groups. According to the Federal Reserve’s latest Survey of Consumer Finances, the median net worth for households in this age range is $364,270, placing them among the wealthiest cohorts in the U.S.
Median net worth reflects the midpoint, meaning half of households have more and half have less. It’s used instead of the mean (what most people call the “average”) because a small number of extremely wealthy households can skew the average upward.
As the chart shows, net worth generally rises through midlife as incomes peak, home equity builds, and retirement accounts grow. Households ages 55–64 sit just below those ages 65–74, who report the highest median net worth overall, before balances tend to decline in later years as people stop working and begin drawing down from savings.
Still, the median figure masks wide variation within the age group itself. While some Americans in their late 50s and early 60s have built substantial wealth, others approach retirement with far less, underscoring why looking beyond a single net worth number matters.
If you’re in your late 50s or early 60s, knowing how your wealth compares—and what it’s made of—can help you gauge how flexible your finances really are as retirement approaches and which trade-offs may matter most.
A single net worth figure can hide a lot. Here’s how wealth for Americans ages 55–64 typically breaks down across major assets and liabilities, based on Federal Reserve data. All median balances shown reflect only households that hold that specific asset or liability.
Assets:
Retirement accounts: Held by 57% of households, with a median balance of $185,000
Primary residence: Nearly 78% own a home, with a median value of $350,000
Vehicles: Almost 90% own at least one vehicle, with a median value of $32,000
Additional residential real estate: About 19% own a second property, such as a vacation home, with a median value of $250,000