TEH MEDIAN IS MORE RELEVANT BECAUSE MEAN MEANS AVERAGE AND AVERGAE IS SKEWED BY THE ULTRA RICH : Here’s the ne t worth of the average American family Published Wed, May 15 2019 8:35 AM EDTUpdated 2 Hours Ago Kathleen Elkins @KATHLE EN_ELK 2:38 How to build wealth when you’re drowning in debt Americans say, on average, that it takes a net worth of $ 2.27 million to be considered “wealthy,” according to a 2019 survey from Charles Schwab. Net worth means assets minu s liabilities, so this is a picture of your total savings, including the value of your home, 401(k) and any other assets you may have, minus any debt. How does that compare to the net worth of the typical American family? The average net wo rth of all U.S. families is $692,100, according to The Federal Reserve’s Survey of Consumer Finances. If you look at t he median, or those at the 50th percentile, the amount is significantly lower: $97,300 — and that may be a better gaug e, since the super rich can pull up the a

Here’s the net worth of the average American family

Published Wed, May 15 2019 8:35 AM EDTUpdated 2 Hours Ago

Kathleen Elkins@KATHLEEN_ELK

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2:38
How to build wealth when you’re drowning in debt

Americans say, on average, that it takes a net worth of $2.27 million to be considered “wealthy,” according to a 2019 survey from Charles Schwab. Net worth means assets minus liabilities, so this is a picture of your total savings, including the value of your home, 401(k) and any other assets you may have, minus any debt.

How does that compare to the net worth of the typical American family?

The average net worth of all U.S. families is $692,100, according to The Federal Reserve’s Survey of Consumer Finances. If you look at the median, or those at the 50th percentile, the amount is significantly lower: $97,300 — and that may be a better gauge, since the super rich can pull up the average.

The Federal Reserve also looked at the mean and median net worth of U.S. families at different ages and found that “median and mean family net worth generally increase with age, with a plateau or modest decreases for the oldest age groups relative to the near-retirement age groups.”

Here’s the mean net worth of U.S. families based on the age of the head of household:

Age 35 or younger: $76,200
Age 35-44: $288,700
Age 45-54: $727,500
Age 55-64: $1.17 million
Age 65-74: $1.07 million
Age 75 or older: $1.07 million

And here’s the median net worth of U.S. families based on the age of the head of household:

Age 35 or younger: $11,100
Age 35-44: $59,800
Age 45-54: $124,200
Age 55-64: $187,300
Age 65-74: $224,100
Age 75 or older: $264,800

Don’t miss: How much money Americans think you need to be considered ‘wealthy’

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