Here's the Average Income and Net Worth for Americans by Age
Every three years, the Federal Reserve publishes its Survey of Consumer Finances (SCF). The SCF provides a detailed snapshot of income, assets, liabilities, and net worth across American households. The most recent survey was conducted in 2022 and published in October 2023. The headline figures are detailed below.
Readers looking to benchmark their financial status against the U.S. average should know two things. First, while mean and average are often used interchangeably, they are not the same. Average encompasses all measures of central tendency, including median and mode.
In this scenario, the median is the best option because the data is not evenly distributed. The top 10% of American households account for 67% of total household wealth, while the bottom 50% of American households account for less than 3% of total household wealth, according to the Federal Reserve Bank of St. Louis.
Source Fool.com
