Data from the Federal Reserve’s 2022 Survey of Consumer Finances (“SCF”), released in late 2023 remains the most comprehensive snapshot of American household wealth available. The Federal Reserve conducts the SCF only every three years, and the 2025 survey is currently underway, with results expected in late 2026. Until then, the 2022 dataset remains the authoritative source and some of its findings may still surprise you.
Table of Contents
- How Net Worth Changes with Age
- The 2026 Wealth Benchmarks
- Why Net Worth Is More Important Than Income
- What’s on the Average American Balance Sheet?
- A Note on Upcoming Data
- Find Your Wealth Advisor at Harness
How Net Worth Changes with Age
From 2019 to 2022, the median U.S. household net worth rose 37% in inflation-adjusted terms, the largest jump since the modern SCF began in 1989. In real (inflation-adjusted) terms, the median climbed from roughly $120,000 in 2016 to $193,000 in 2022, a 61% increase.
That growth wasn’t equal across all households. In fact, the biggest percentage gains were seen among those with the lowest starting net worth, many households with previously low or negative net worth made significant strides by paying down debt or accumulating assets for the first time.
Important 2026 context: Cumulative inflation since the 2022 survey is approximately 9%. When comparing your own net worth to these benchmarks, it’s worth adjusting the figures upward by roughly 9% to account for changes in purchasing power since the data was collected.
The 2026 Wealth Benchmarks
To understand how your net worth compares, here’s what it takes to reach key tiers based on Federal Reserve data, with an approximate inflation-adjusted figure for 2026:
| Threshold | 2022 SCF Figure | Approx. 2026 (inflation-adjusted) |
|---|---|---|
| Top 50% (Median) | $192,700 | ~$210,000 |
| Beginning of Second Quartile (75th percentile) | $357,000 | ~$389,000 |
| Top 10% (90th percentile) | $1,940,000 | ~$2,115,000 |
| Median of the Top 10% (95th percentile) | $3,795,000 | ~$4,137,000 |
Source: Federal Reserve Survey of Consumer Finances (2022); inflation adjustment based on cumulative CPI through 2026.
While breaking into the top half is increasingly achievable with consistent saving and investing, the leap to the top 10% remains steep. Wealth at the upper end tends to be built not just through income, but through equity ownership, business interests, long-term investing, and real estate gains, assets that benefit from compounding, appreciation, and favorable tax treatment over time.
Net Worth Tends to Rise with Age
Net worth tends to rise with age as people earn more, invest consistently, and pay down debt. According to Federal Reserve data, younger households are just beginning to build assets, while older households have had more time to accumulate and grow wealth.
Median Net Worth by Age (2022 SCF)
| Age Group | Median Net Worth | Average Net Worth |
|---|---|---|
| Under 35 | $39,000 | $183,380 |
| 35–44 | $135,600 | $548,070 |
| 45–54 | $247,200 | $971,270 |
| 55–64 | $364,270 | $1,566,900 |
| 65–74 | $409,900 | $1,794,600 |
| 75+ | $335,600 | $1,624,100 |
| All Households | $192,700 | $1,063,700 |
Source: Federal Reserve 2022 Survey of Consumer Finances.
Notice the significant gap between median and average at every age. A relatively small number of very wealthy households pulls the average well above what most Americans actually hold. When benchmarking your own progress, the median is almost always the more meaningful number.
One interesting pattern worth noting: median net worth dips slightly for the 40–44 bracket compared to 35–39. This likely reflects peak spending years — larger mortgages, childcare costs, and career transitions that can temporarily slow wealth accumulation even as income rises.
Net worth peaks in the 65–74 bracket at a median of $409,900, then begins to decline as households draw down savings in retirement.
Why Net Worth Is More Important Than Income
Net worth is often the clearest indicator of your real financial position. Unlike income, which shows what you earn, net worth reflects what you’ve built — accounting for debt, savings, investments, and assets like your home or business.
Someone earning $250,000 a year but carrying high debt and spending aggressively may have a lower net worth than someone earning far less who has saved and invested consistently for decades. That’s why net worth, not income, is often a better measure of long-term financial health and security.
This distinction also matters for retirement planning. A high earner who retires with limited savings must replace their income from somewhere. A lower earner who has built substantial assets has far more flexibility. Net worth is what creates options.
What’s on the Average American Balance Sheet?
According to the Federal Reserve’s 2022 Survey of Consumer Finances, here’s how household wealth is distributed on average across all U.S. households, including the wealthiest:
| Asset Category | Share of Average Household Wealth |
|---|---|
| Primary residence | 30% |
| Retirement accounts (401(k), IRA, etc.) | 25% |
| Public equities and mutual funds | 15% |
| Private businesses or equity | 12% |
| Other real estate (rentals, vacation homes) | 10% |
| Cash and deposits | 5% |
| Other (vehicles, collectibles, crypto) | 3% |
Source: Federal Reserve Survey of Consumer Finances (2022); internal analysis by Harness.
These figures represent mean values, significantly influenced by high-net-worth households. The typical (median) household is far more concentrated in home equity and retirement savings, with limited exposure to stocks or private business ownership.
From 2019 to 2022, public equities and home equity grew as a share of the average balance sheet, not necessarily because of increased contributions, but because of rising asset prices during the bull market and housing boom. With interest rates having risen sharply since then and markets experiencing volatility in 2023–2025, many households may find their portfolios are no longer aligned with their long-term goals. That makes this an important moment to revisit your financial strategy.
A Note on Upcoming Data
The Federal Reserve launched its 2025 Survey of Consumer Finances in March 2025, with results expected in late 2026. This will be the first comprehensive update to American household wealth data since the 2022 survey — and it will capture how families have navigated inflation, rising interest rates, resumed student loan payments, and significant shifts in housing and equity markets.
When the new data is released, Harness will update these benchmarks. Check back here for the most current figures.
Find Your Wealth Advisor at Harness
At Harness, our wealth and financial advisors can guide you through major life stages and investment decisions. Whether you’re growing your portfolio, selling equity, navigating taxes, or planning your future, we help you make smarter, more strategic choices with confidence.
Register today to connect with vetted advisors and start planning your next move.
Tax related products and services provided through Harness Tax LLC. Harness Tax LLC is affiliated with Harness Wealth Advisers LLC, collectively referred to as “Harness Wealth”. Harness Wealth Advisers LLC is a paid promoter, internet registered investment adviser. Registration does not imply a certain level of skill or training. This article should not be considered tax or legal advice and is provided for informational purposes only. Please consult a tax and/or legal professional for advice specific to your individual circumstances. This article is a product of Harness Tax LLC.
Content should not be regarded as a complete analysis of the subjects discussed. Certain information contained herein has been obtained from third party sources and such information has not been independently verified by Harness Wealth. No representation, warranty, or undertaking, expressed or implied, is given to the accuracy or completeness of such information. Harness Wealth does not assume any responsibility for the accuracy or completeness of such information. Harness Wealth does not undertake any obligation to update the information contained herein as of any future date.
