Average Net Worth Ages 55-64 — Where Do You Rank?
The median net worth for Americans ages 55-64 is $365,000 according to the Federal Reserve 2022 Survey of Consumer Finances. This decade is the last major accumulation phase before retirement. The 75th percentile crosses $1 million for the first time — many households in the top quarter have crossed into millionaire territory.
Net worth by percentile — ages 55-64
| Percentile | Net worth | Rank |
|---|---|---|
| 10th | $9K | Top 90% |
| 25th | $90K | Top 75% |
| 50th Median | $365K | Top 50% |
| 75th | $1.1M | Top 25% |
| 90th | $2.7M | Top 10% |
| 95th | $3.7M | Top 5% |
| 99th | $7.8M | Top 1% |
Source: Federal Reserve 2022 Survey of Consumer Finances. Published October 2023. Methodology
Key finding
The 75th percentile at 55-64 is $1.07 million. This is the age group where the gap between prepared and unprepared households is most visible — the difference between the 25th percentile ($90,000) and the 75th percentile ($1.07 million) is nearly 12x.
Calculate your percentile — ages 55-64
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Net worth by age group
Frequently asked questions — ages 55-64
What is the average net worth at 60?
The median net worth for Americans ages 55-64 is $365,000 (Federal Reserve 2022 SCF). The 75th percentile is $1.07 million and the 90th percentile is $2.7 million. At 60, the Federal Reserve data shows a wide distribution — the 25th percentile is only $90,000, while the top 10% exceeds $2.7 million. The median of $365,000 is the most meaningful single benchmark.
Is $1 million enough to retire at 65?
Using the 4% withdrawal rule, $1 million in retirement savings supports approximately $40,000 per year in inflation-adjusted spending. Combined with Social Security (average benefit around $18,000-$22,000 per year for someone retiring at 65), $1 million supports roughly $58,000-$62,000 in annual income. Whether that is enough depends on your location, health care costs, and expected lifestyle. For most Americans, $1 million at 65 is a comfortable but not extravagant retirement.
How much should I have saved at 55?
Common benchmarks vary: Fidelity recommends 7x your salary by 55, T. Rowe Price recommends 7.5x. For someone earning $80,000, that is $560,000-$600,000 in retirement savings by 55. This is separate from home equity and other assets. The Federal Reserve 2022 data shows the 75th percentile for total net worth (all assets) at 55-64 is $1.07 million, which typically includes significant home equity.
Can I still catch up on retirement savings at 60?
Yes, but the window is narrowing. In 2024, the IRS allows a $30,500 annual contribution to a 401k for people 50+ (including catch-up contributions). Contributing the maximum for 5 years from age 60 to 65 adds approximately $180,000-$200,000 before investment returns. At 7% average annual returns, $30,500 per year for 5 years grows to approximately $175,000. Late-career contributions are most effective when paired with a plan to delay Social Security, which increases benefits by 8% per year from age 62 to 70.
About this data
All percentile data is sourced from the Federal Reserve 2022 Survey of Consumer Finances (SCF), published October 2023. The SCF is the authoritative source for US household wealth data, conducted every three years. Net worth for ages 55-64 uses household-level data where the reference person falls in the 55-64 age range. The median net worth for this group is $365K. Full methodology →