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Here's the net worth of the average American family

CNBC logo CNBC 5/27/2019 Kathleen Elkins
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Americans say it takes an average net worth of $2.27 million to be considered "wealthy." Here's how much money U.S. families actually have at every age.

Americans say, on average, that it takes a net worth of $2.27 million to be considered "wealthy," according to a 2019 survey from Charles Schwab. Net worth means assets minus liabilities, so this is a picture of your total savings, including the value of your home, 401(k) and any other assets you may have, minus any debt.

How does that compare with the net worth of the typical American family?

The average net worth of all U.S. families is $692,100, according to The Federal Reserve's Survey of Consumer Finances. If you look at the median, or those at the 50th percentile, the amount is significantly lower: $97,300 — and that may be a better gauge, since the super rich can pull up the average.

The Federal Reserve also looked at the mean and median net worth of U.S. families at different ages and found that "median and mean family net worth generally increase with age, with a plateau or modest decreases for the oldest age groups relative to the near-retirement age groups."

Here's the mean net worth of U.S. families based on the age of the head of household:

  • Age 35 or younger: $76,200
  • Age 35-44: $288,700
  • Age 45-54: $727,500
  • Age 55-64: $1.17 million
  • Age 65-74: $1.07 million
  • Age 75 or older: $1.07 million

And here's the median net worth of U.S. families based on the age of the head of household:

  • Age 35 or younger: $11,100
  • Age 35-44: $59,800
  • Age 45-54: $124,200
  • Age 55-64: $187,300
  • Age 65-74: $224,100
  • Age 75 or older: $264,800

Don't miss: How much money Americans think you need to be considered 'wealthy'

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