Here's the Average Net Worth of 85-Year-Old Americans (How Do You Compare?)

By age 85, you have put in a lifetime's worth of work and hopefully accumulated enough savings to ensure your health and comfort. Your net worth is less a competitive score and more a measure of how well you can live in your golden years.

Still, there is some value in understanding where you stand financially compared to your peer group. If your net worth compares favorably to the average for 85-year-old Americans, there's a sense of pride and accomplishment. If you come up a bit short, consider it a motivator to improve your financial situation.

And yes, even at age 85, there are still ways to make your money go farther and save more. Here's a look at the most recent data on the net worth of Americans around the age of 85, along with practical steps you can take to shore up your finances.

The average net worth for an American aged 75 and older is $1,624,100, according to the most recent Federal Reserve Survey of Consumer Finances. The median figure is $335,600. So, what's the difference between the average and the median, and why is there such a big gap between the two?

The average is calculated by adding all the values in a dataset, then dividing by the total number of values in the dataset. Known as a "mean average," the resulting figure represents the value if all data points were equal. Meanwhile, the median is the middle point in the series of numbers.

The wide gap between the two figures indicates that the average is heavily skewed by a small number of extremely wealthy individuals. Therefore, the average is an unrealistic comparison point for most households, and the median provides more valuable context.

Net worth is calculated by adding up the total value of your assets and then subtracting the total value of your liabilities.

Assets include your savings, home, cars, and other valuable property. Meanwhile, your liabilities comprise your debt, including what you owe on mortgages, car loans, credit cards, and similar obligations.

So, how does your net worth compare to the median for Americans aged 85? If your net worth is at or surpasses the average or median for your age group, you can feel pretty comfortable about your financial standing.

If you're not happy with your net worth, don't worry. You can still increase your assets and reduce your liabilities, even at 85 years old. Here are some tips for improving your financial outlook at any age.

It's no secret that the convenience of credit cards comes at the cost of high interest that compounds every month. Credit card balances and other high-interest debts can quickly erode your savings, so pay these off as soon as possible.

Eliminating high-interest debt provides an immediate boost to your net worth — and your peace of mind.

Subscriptions are easy to sign up for. Individual streaming services, magazines, and memberships tend to be affordable on their own, but they can add up to a considerable monthly expense.

Take 30 minutes to review your credit card and bank statements to identify any subscriptions you no longer really want. Unsubbing could free up hundreds of dollars a year.

We all have possessions that we don't remember buying or why we bought them. These unwanted items take up space, but it's easy enough to convert them into cash.

Whether it's collectibles, furniture, or jewelry, you can sell stuff online via Facebook Marketplace or eBay. If you'd rather deal in person, consider having a garage sale or setting up a booth at a flea market.

Paying late fees on your monthly bills is like throwing money away. However, in most cases today, you can set up automatic payments from your bank account or credit card, ensuring that every bill is paid on time.

Some companies even offer a small discount when you enroll in automatic payments, further adding to your monthly savings.

Instead of just sitting around, your emergency fund and other cash savings could be earning interest. This is a great way to combat the rising costs associated with inflation.

Consider low-risk investments, such as an FDIC-insured high-yield savings account. Even if you only earn 3.00% or 4.00% on a relatively safe investment, that's often enough to offset annual inflation.

Property tax bills can cost you thousands of dollars per year, and rates continue to rise. However, some states offer property tax relief programs for those who have reached retirement age.

These programs vary by state, but often involve lowering a home's assessed value or issuing a property tax relief credit.

Giving away money to improve your net worth? If you have a net worth that is subject to estate taxes, taking advantage of the gift tax exemption might actually work for you.

You can give away up to the annual gift tax exclusion amount ($19,000 as of 2025) each year to any number of individuals without filing a gift tax return. These gifts reduce your taxable estate while providing financial help to your loved ones.

Even if you've been receiving Social Security benefits for years, it's worth checking if you're eligible for more.

For example, if you are a widow or widower, you might qualify for a higher survivor benefit. Contact your local Social Security Administration office to verify your eligibility and ensure you receive all the benefits to which you are entitled.

Even at age 85, you can find ways to reduce your expenses, pay down your debt, and add to your savings. In fact, increasing your net worth at this age is easier than for others, because you likely have less debt than younger generations.

According to a survey conducted by the Employee Benefit Research Institute, 46% of Americans aged 75 or older are completely debt-free. That means nearly half of the people in your age range hold no credit card balances, mortgages, or other loans, meaning you only have to add to your assets to increase your net worth and enjoy a stress-free retirement.