The average 50 year old in the U.S. is now a millionaire.

if you don't have a million dollar net worth by age 50, you've made some major mistakes in life

There are a LOT of mistakes then.

Now do 30 year olds

Sure Jan

I’m only a few years away from 50. Looking forward to my $400,575.00 windfall.

quote:

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The “median” American household – picture the middle number in a long list of numbers – achieves a net worth of around $300,000 in the 50-to-59 age range, a far cry from $1 million.

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Meh, the uber rich drive this "average"

Got to read a little more...

quote:

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If you’re a fifty-something and you’re not worth a cool $1 million, do not despair. Those numbers are averages, and the super-rich drive them wa-a-ay up.

The “median” American household – picture the middle number in a long list of numbers – achieves a net worth of around $300,000 in the 50-to-59 age range, a far cry from $1 million.

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With that being said, I do believe the American middle class is gaining a lot of wealth from inheritance as their silent generation and boomer parents die off and that spending is keeping a lot of the economy afloat.

Average and median is not close - median which is more representative is only $275k. That means the average 50 year old is only worth $275k.

Curious what the MEDIAN net worth would be

Eta- OT ballers driving up the average obviously!