News & Trending Money News

Here's the Average Net Worth of 78-Year-Old Americans (How Do You Compare?)

Federal Reserve data shows what Americans 75 and older typically have accumulated — and why averages don't tell the whole story.

By Adam Palasciano

Edited by Amanda Machado

Updated March 14, 2026

Add Us On Google

Turning 78 can bring a new perspective on money. By this stage, most Americans are several years into retirement and relying on savings, Social Security, pensions, or investment income. Looking at national averages can help you see how your retirement savings stack up, but those numbers require context. Net worth is more than just an investment balance — it reflects a lifetime of financial decisions.

Here's what the data shows, and how to interpret it.

Get instant access to hundreds of discounts

Over 50? Join AARP today— because if you’re not a member you could be missing out on huge perks like discounts on travel, dining, and even prescriptions.

Get 25% off membership — just $15 for your first year with auto-renewal — and a free gift if you join today.

Become an AARP member now

Average net worth of 78-year-olds

According to the most recent data from the Federal Reserve Survey of Consumer Finances, the mean net worth of Americans age 75 or greater was $1.62 million in 2022, up 43% from 2019 (which includes those who are 78 years old).

If your net worth feels lower in comparison, this doesn't mean your retirement plan is problematic, as there are several other factors to consider.

Who really has the cheapest auto insurance in your area? Check your zip code here.

Why median net worth provides a clearer picture

The median can be a more realistic indicator of the average 78-year-old's net worth, as these numbers are not skewed by extremely high-earning individuals who can raise the whole average figure. Instead, the median is pulled from the center of a data set to provide an average or midpoint figure.

The median net worth of Americans age 75 or greater was $335,600 according to the Federal Reserve's survey.

If your number is closer to the median than the mean, your retirement outlook is likely still on track.

Why net worth can vary significantly

Large differences between the mean and median figures show how uneven wealth distribution can be. A relatively small group of high-net-worth households significantly raises the overall average, even though most retirees hold far less.

From 2019 to 2022, both median and mean net worth increased, likely because rising home values and stock market gains outpaced inflation during that period. For many households, growth in housing equity and retirement accounts contributed meaningfully to overall wealth.

Resolve $10,000 or more of your debt

National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.¹ <p>Clients who complete the program and settle all debts typically save around 45% before fees or 20% including fees over 24–48 months, based on enrolled debts. “Debt-free” applies only to enrolled credit cards, personal loans, and medical bills. Not mortgages, car loans, or other debts. Average program completion time is 24–48 months; not all debts are eligible, and results vary as not all clients complete the program due to factors like insufficient savings. We do not guarantee specific debt reductions or timelines, nor do we assume debt, make payments to creditors, or offer legal, tax, bankruptcy, or credit repair services. Consult a tax professional or attorney as needed. Services are not available in all states. Participation may adversely affect your credit rating or score. Nonpayment of debt may result in increased finance and other charges, collection efforts, or litigation. Read all program materials before enrolling. National Debt Relief’s fees are based on a percentage of enrolled debt. All communications may be recorded or monitored for quality assurance. In certain states, additional disclosures and licensing apply. ©️ 2009–2025 National Debt Relief LLC. National Debt Relief (NMLS #1250950, CA CFL Lic. No. 60DBO-70443) is located at 180 Maiden Lane, 28th Floor, New York, NY 10038. All rights reserved. <b><a href="https://www.nationaldebtrelief.com/licenses/">Click here</a></b> for additional state-specific disclosures and licensing information.</p>

How is net worth calculated?

Net worth represents the difference between what you own and what you owe (assets versus liabilities). Assets can include the value of your home, vehicles, investment accounts, savings accounts, and other property. Liabilities include mortgages, car loans, credit card balances, and any other outstanding debts.

For example, if you still owe $80,000 on the mortgage for your home and have $1,000 in credit card debt, those figures would be subtracted from the total value of your assets to calculate your current net worth.

How home equity plays a role in building wealth

For many 78-year-olds, home equity can make up a substantial portion of total net worth. Decades of mortgage payments combined with home price appreciation can create significant wealth on paper.

However, housing wealth is not always easily accessible without selling the property or using tools like a reverse mortgage. That distinction matters when evaluating how much of your net worth is truly available for spending in retirement.

The importance of shifting toward conservative investments as you near retirement

By age 78, most retirees have already transitioned away from aggressive growth strategies. Preserving capital often becomes more important than pursuing high returns, particularly if withdrawals are funding living expenses.

A diversified mix of bonds, dividend-paying stocks, and cash equivalents can help reduce volatility. The right allocation depends on your income needs, health outlook, and overall financial goals.

Make Money: 8 things to do if you're barely scraping by financially

Strategies to strengthen net worth

Even in your late 70s, there are ways to manage and potentially improve your financial position. Consider the following steps:

Revisit your retirement spending plan — or create one if you haven't yet formalized your budget.
Develop a clear withdrawal strategy, including which accounts to tap first to manage taxes efficiently.
Review your investment mix to balance income generation with long-term stability.
Research senior tax benefits available in your state, including property tax exemptions or credits.
Reassess financial goals annually to ensure your plan reflects changing needs.

Working with a qualified financial professional can help you refine these strategies and adjust as circumstances evolve.

Bottom line

The average net worth for Americans age 75 and older reached $1.62 million in 2022, but the median figure of $335,600 paints a more realistic picture for many households. Housing equity, market gains, and long-term saving habits all influence where you fall within that range.

Ultimately, net worth is just one measure of financial health. Understanding how your assets support income, liquidity, and long-term needs is key to maintaining a stress-free retirement.

More from FinanceBuzz:

$0 annual fee
Intro APR on purchases and balance transfers
Apply Now

INTRO OFFER: Unlimited Cashback Match for all new cardmembers. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
Redeem cash back for any amount. No annual fee.
Get a 0% intro APR for 15 months on purchases. Then 17.49% to 26.49% Standard Variable Purchase APR applies, based on credit worthiness.
Terms and conditions apply.

Discover <span class='whitespace-nowrap'>it<sup>®</sup></span> Cash Back

4.7

Apply Now

on Capital One's secure website

Read Card Review

Intro Offer

Discover will match all the cash back you’ve earned at the end of your first year.

Annual Fee

Why we like it