Here's How Much Americans in Their 70s Are Worth on Average (Where Do You Stand?)

You might assume your net worth starts shrinking once you retire. After all, you're no longer earning a regular paycheck, and you may be relying on your savings to cover everyday expenses.

But the latest Federal Reserve data tells a different story.

According to the 2025 Survey of Consumer Finances, households with a reference person age 75 or older have the highest median net worth of any age group in the country. Their wealth has also grown considerably since the previous survey.

So, how much are Americans in their 70s actually worth? And how does your own financial fitness compare?

Here's what the latest numbers reveal, along with a few things to keep in mind when evaluating your retirement finances.

The average net worth for Americans 75 and older

According to the Federal Reserve's latest Survey of Consumer Finances, households with a reference person age 75 or older have an average net worth of about $1.96 million.

That's nearly $2 million, which might sound like a pretty comfortable retirement. But there's an important catch: Averages don't necessarily reflect what a typical household has saved.

A relatively small number of extremely wealthy households can push the average higher, making the figure less representative of everyday retirees. That's why it's worth looking at the median, too.

The median tells a very different story

The median net worth for households age 75 and older is approximately $504,900.

In other words, half of these households have a net worth above that amount, while the other half have less. The median can be a more useful comparison because it isn't pulled upward as much by households with exceptionally large fortunes.

Still, don't take this number as a retirement savings goal you have to hit. Net worth includes everything you own, minus what you owe. That can include your home, investment accounts, retirement savings, and other assets.

Someone with a paid-off home and a modest retirement account could have a relatively high net worth without having millions of dollars available to spend.

Why net worth can grow after 70

It's easy to think of retirement as the point when your wealth starts going down. You're no longer collecting a paycheck, and eventually, you'll likely need to withdraw money from your retirement accounts.

But retiring doesn't necessarily mean your assets stop growing.

In fact, the Federal Reserve's latest figures show that households age 75 and older experienced substantial net worth gains between 2022 and 2025. Their median net worth rose about 37%, while their average net worth rose about 10%.

A few factors can help explain why.

• Investment growth: Your retirement accounts can continue growing even after you stop contributing regularly. Market gains and investment returns may help offset withdrawals.
• Home equity: If you've owned your home for several decades, rising property values and years of mortgage payments may have helped build substantial equity.
• Retirement assets: The Federal Reserve identified increased retirement account values as the primary driver of the substantial net worth gains among households older than 75.

Of course, that doesn't mean every retiree is seeing their wealth grow. Your investment performance, spending habits, housing costs, and other financial obligations can all affect your personal situation.

And remember, having a higher net worth doesn't necessarily mean you have more money available to cover your monthly bills.

Your home could be a big part of your net worth

For many older Americans, their home is one of their most valuable assets. If you bought your house years ago, you may have benefited from decades of property appreciation while paying down your mortgage. That could leave you with substantial home equity by the time you reach your 70s.

The Federal Reserve's 2025 survey found that homeowners had a median net worth of $458,900, compared with just $10,600 for renters and other non-homeowners.

That's a significant difference and highlights how homeownership can contribute to long-term wealth building.

But remember: home equity isn't the same as cash in the bank.

You may have hundreds of thousands of dollars in equity but still need to rely on Social Security, retirement accounts, or other income sources to pay your everyday expenses.

If you're considering downsizing or selling your home in retirement, that equity could potentially become a more accessible source of money. Just make sure you account for moving expenses, housing costs, and any applicable taxes.

How your 70s compare to your 60s

Here's another interesting finding from the latest Federal Reserve survey: households age 75 and older have more wealth than households ages 65 to 74, using both median and average net worth.

The average net worth for those ages 65 to 74 was about $1.9 million, while the average for people 75 and older was roughly $1.96 million. Likewise, those ages 65 to 74 had a median net worth of $431,300, and those age 75 and up had a median net worth of $504,900.

The difference is especially noticeable in median net worth. Households age 75 and older have approximately $73,600 more in median wealth than households ages 65 to 74.

That may challenge the assumption that your wealth inevitably starts declining as soon as you leave the workforce. The latest figures suggest that many older households have continued building wealth, even well into retirement.

A better question than how do I compare

Comparisons are useful, but they rarely answer what retirees actually need to know. A household with a below-average net worth can be perfectly comfortable if its expenses are modest and its income is reliable, while someone with a much larger portfolio can struggle if spending runs high.

Rather than fixating on national averages, ask whether income from Social Security, pensions, retirement accounts, and other sources is likely to cover your expenses throughout retirement. That calculation gives a clearer read on long-term health than net worth alone.

Bottom line

If you thought your net worth had to decline once you reached your 70s, the latest Federal Reserve data might surprise you. Households age 75 and older now have the highest median net worth of any age group, at $504,900. Their average net worth is even higher, reaching approximately $1.96 million.

That doesn't mean every older American is wealthy or that retirement automatically improves your finances. But it does show that building wealth doesn't necessarily stop when you leave the workforce.

Rather than worrying about how you compare with everyone else, take a closer look at your own retirement plan, income, savings, and expenses. Making sure your money can support your needs is ultimately more important than hitting a particular net worth milestone.

Editor's Note: Portions of this story were drafted with assistance from generative AI tools. All final creative decisions, edits, and fact-checking were done by human writers and editors.

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