Here's the Income and Net Worth You Need to Reach the Top 50% of Americans

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The Federal Reserve conducts its Survey of Consumer Finances (SCF) every three years. The report collects information concerning income, assets, debt, and demographic characteristics of American households, creating consistent financial snapshots taken at regular intervals.

The most recent SCF was completed in 2022 and published in October 2023. At the time, the median before-tax income was $70,260, and the median net worth was $192,700. Based on that data, anyone with a higher income or net worth ranks among the top 50% of Americans.

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However, while those figures are useful in studying the broader population, time is a major factor in earning promotions and building wealth. So, individuals should limit personal comparisons to age-based data. Read on to see the median income and net worth for different age groups.

A piggy bank sitting on a desk, beside which are ascending stacks of coins.
Image source: Getty Images.

The median before-tax income among American households by age

The chart shows an age-based breakdown of the median before-tax income across American households based on the age of the reference person.

Age Group

Median Income

18-35

$60,530

35-44

$86,470

45-54

$91,880

55-64

$82,150

65-74

$60,530

75+

$49,070

All Households

$70,260

Data source: Federal Reserve 2022 Survey of Consumer Finances. Note: Reference person is defined as the male in mixed-sex couples and the older individual in same-sex couples.

The numbers shown above represent the 50th percentile, meaning 50% of the defined age cohort reported a higher income, and 50% reported a lower income. For instance, adults aged 18 to 34 need income exceeding $60,530 to rank among the top 50% of their peer group. Additionally, anyone with income above $70,260 ranks among the top 50% of all American households.

The median net worth among American households by age

Net worth is defined as assets minus debt. The SCF groups assets into two categories: (1) financial assets like bank accounts, retirement accounts, and other investment accounts, and (2) nonfinancial assets like vehicles, real estate, and equity in a business. Likewise, debt includes credit card balances and loans, including but not limited to mortgages, student loans, and auto loans.

The chart below shows an age-based breakdown of the median net worth among American households based on the age of the reference person.

Age Group

Median Net Worth

18-34

$39,040

35-44

$135,100

45-54

$246,700

55-64

$364,270

65-74

$410,000

75+

$334,700

All Households

$192,700

Data source: Federal Reserve 2022 Survey of Consumer Finances. Note: Reference person is defined as the male in mixed-sex couples and the older individual in same-sex couples.