Retirement in 2025: This is the average net worth of US seniors over and under 75

It’s never too early to start preparing for retirement. As a matter of fact, the sooner you start the better, as it gives your investments more time to grow and requires less of a financial burden each month.

However, it can be hard, and many struggle to find money to set aside while still covering everyday expenses each month. In fact, nearly half of retired Americans told Clever that they think they will outlive their retirement savings.

So how much do Americans of retirement age have tucked away?

The state of US seniors’ net wealth

According to the most recent data from the Federal Reserve’s triennial Survey of Consumer Finances published in October 2023 the average net worth for retired individuals aged 65 to 74 is $1,794,600, while for those over the age of 75 the number is $1,624,100.

If your are looking at your own retirement account and thinking you have no where near that amount, don’t panic. There are two things to take into account. One, this number represents net worth, the total of all assets (house, property, retirement savings, etc.). Two, this is an average, so it is skewed by high income individuals.

It is better to look at the median amounts for comparison, half of the people are above and half are below. In the case of retired people aged 65 to 74 the median is $409,900, and $335,600 for those over the age of 75.

There is another thing to keep in mind though if you are comparing, that the cost of living is not equal across the United States, and some places your savings will go a lot further than others.

Still, the amount needed to cover 25 years of retirement in even the most affordable state is close to double the median net worth of $364,500 for the cohort aged 55 to 64.

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