Here's the Average Net Worth of 87-Year-Old Americans (How Do You Compare?)

By the time someone reaches 87, money usually feels very different from what it did at 40 or even 65. At this stage of life, the goal is less about building wealth and more about making sure what you have lasts, supports your needs, and gives you peace of mind. Still, it's completely natural to wonder how you compare to other people your age and whether your own situation is typical, ahead of the curve, or more fragile than you realized.

If you are trying to avoid wasting your retirement savings, understanding what "normal" looks like at this age can offer some helpful perspective.

What net worth really means at age 87

Net worth is simply the value of everything you own minus everything you owe. That includes your home, savings, investments, and retirement accounts, minus any remaining debts. On paper, it sounds straightforward. In real life, especially in your late 80s, it can be a bit misleading.

Many people at this age have most of their wealth tied up in their home. That means their net worth might look substantial, even if their actual monthly cash flow is fairly modest. Others have spent down a good portion of their savings over the years and now rely mostly on Social Security, pensions, or family support. Net worth is a useful snapshot, but it does not tell the whole story of someone's day-to-day financial comfort.

Why "average" and "median" tell very different stories

When you see headlines about the "average" net worth of older Americans, it is important to pause for a second. The average is pulled upward by a relatively small number of very wealthy households. A few people with extremely high net worths can make the number look much bigger than what most people actually have.

The median tells a more realistic story. The median is the middle point. Half of households have more than that number, and half have less. For Americans age 75 and older, which is the closest group we have to 87-year-olds in national data, the average net worth is a little over $1.6 million. The median, however, is much closer to about $330,000.

That gap alone tells you a lot. Most people in their late 80s are not sitting on anything close to a seven-figure nest egg.

So what does a "typical" 87-year-old look like financially?

There is no official statistic that isolates exactly age 87, but using the broader 75-and-older group gives us a very good estimate. A reasonable expectation is that many 87-year-olds have a net worth somewhere in the low-to-mid six figures, often around $300,000 to $350,000.

Some have far less. Some have far more. But for most people, the financial picture is fairly modest and focused more on stability than abundance. It is also common for net worth to slowly decline through the late 70s and 80s as people draw down savings to cover everyday living expenses and sometimes long-term care.

Where that money usually lives

At this age, wealth is usually not sitting in a big investment portfolio. For many people, the largest single asset is still their home. If the mortgage was paid off years ago, that equity can make net worth look healthy, even if liquid savings are limited.

Beyond the home, most net worth is usually spread across:

• Retirement accounts that have been slowly shrinking over time
• Cash savings and checking accounts
• Possibly some taxable investments
• And, in some cases, a small amount of remaining debt

This is why two people with the same net worth can have very different lifestyles. One might have plenty of accessible cash. Another might be "house rich and cash poor."

How this compares to earlier retirement years

Interestingly, many people's net worth peaks in their late 60s or early 70s. That is often right after they retire, before they have spent many years drawing from their savings. After that, the trend usually points slowly downward.

By the late 80s, this is completely normal. The entire purpose of saving for retirement is to use that money. Seeing your net worth decline at this stage is not necessarily a failure. In many cases, it simply means the plan is working.

What this should (and shouldn't) mean for you

If you are near this age or planning for it, these numbers are best used as context, not as a scorecard. Being above or below the median does not automatically mean you are safe or at risk. What matters much more is whether your income and resources comfortably support your needs.

It is also worth remembering that a large net worth on paper does not guarantee peace of mind, and a modest one does not automatically mean financial stress. Stability and manageable expenses often matter far more.

Bottom line

Most 87-year-old Americans are not sitting on massive fortunes. While the average net worth for people 75 and older is boosted by a small group of very wealthy households, the median is much more modest, and for many people in their late 80s, most of that wealth is tied up in home equity rather than easily spendable cash. What matters far more than the headline number is whether your income and assets comfortably support your day-to-day life.

A large share of people in their late 80s rely more heavily on Social Security than they expected, even if they have access to savings or a paid-off home. Making smart money moves for seniors often means focusing less on growing wealth and more on coordinating benefits and managing healthcare costs.

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