I took a quick look at the CNN net worth calculator and pulled out some examples of the median net worth of various ages. I’ll list the averages for a couple different scenarios but you can certainly go use the tool and see how your specific numbers stack up. I’m going to use some pretty standard age ranges for this comparison. Under 25, 25-34, 35-44, 45-54, 55-64 and 65+. I’ll also assume an average annual wage of $55,000.
Below age 25:
Median net worth: $1,475
Age 25 to 34:
Median net worth: $8,525
Age 35 to 44:
Median net worth: $51,575
Age 45 to 54:
Median net worth: $98,350
Age 55-64:
Median net worth: $180,125
Age 65 and up:
Median net worth: $232,000
So, I guess the first question is, does this matter? Does it really make a bit of difference what someone else’s net worth is? Not really. The main thing to focus on when calculating whether you are saving enough and will retire comfortably is how much money YOU will need. That being said, I think it’s human nature to compare how you’re doing financially with how others are doing. It’s why so many people try to keep up with the Jones’. Anyway, just kind of a fun look at how we all stack up. I think you’d probably be more interested to see where you should be financially if you want to amass a $1 million nest egg or $2 million nest egg. For the record, it’s a far different set of numbers than what you see above.