The Average Net Worth of a 62 Year Old in the United States Revealed

💰The mean net worth of a 62 year old in the United States is $1,188,000, while the median net worth is $229,000.

📈The average net worth is influenced by extremely high balances at the top, skewing the mean higher than the median.

🏠For many 62 year olds, the primary asset contributing to their net worth is the value of their home.

💼Building a business or inheriting wealth are the primary ways to reach the top 1 percent net worth level.

❓Net worth should be benchmarked against the median value, as it is more representative of the majority of 62 year olds.

What is the average net worth of a 62 year old in the United States?

—The average net worth of a 62 year old in the United States is $1,188,000.

What is the median net worth of a 62 year old in the United States?

—The median net worth of a 62 year old in the United States is $229,000.

What factors contribute to net worth?

—Net worth is calculated by subtracting liabilities, such as debt, from assets that can be monetized.

Why is the mean net worth higher than the median net worth?

—The mean net worth is skewed higher by extremely high balances at the top, while the median is more representative of the majority.

How can someone reach the top 1 percent net worth level?

—Reaching the top 1 percent net worth level usually involves inheriting wealth or building a successful business.

00:00This video reveals the average net worth of a 62 year old in the United States.

01:30Net worth is defined as the value of assets minus liabilities.

03:30The mean net worth of a 62 year old in the United States is $1,188,000.

03:45The median net worth of a 62 year old in the United States is $229,000.

04:30The average net worth is influenced by extremely high balances at the top, skewing the mean higher than the median.

04:43For many 62 year olds, the primary asset contributing to their net worth is the value of their home.

05:00Building a business or inheriting wealth are the primary ways to reach the top 1 percent net worth level.

05:15Benchmarking net worth against the median value provides a more accurate representation of the majority of 62 year olds.