Retirement Retired Life

Here's the Net Worth of the Average Retiree (How Do You Compare?)

Remember, you might better compare to the medians and not the average.

By Magdalena Becker

Updated Feb. 4, 2026

If you're feeling uncertain about your retirement savings, you're not alone. A national poll found that more than half of Americans worry about their retirement security. But understanding how your finances compare to others can help you take realistic steps forward and build wealth.

When it comes to net worth, the average can be misleading. Instead, looking at the median offers a more accurate picture of where most people stand in retirement.

Average and median retiree net worth

According to the Federal Reserve Board's Survey of Consumer Finances, the average net worth for retirees aged 65 to 74 is $1,794,600. But because averages are skewed by the wealthiest households, the median is a better reflection of typical retiree wealth. For this age group, the median net worth is $409,900.

For those aged 75 and older, the average net worth drops slightly to $1,624,100, while the median falls to $335,600.

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What counts as net worth?

Net worth isn't just what you have in your checking account. It includes everything you own, minus what you owe. That means:

Retirement accounts and pensions
Real estate, including your home
Investments and stocks
Vehicles and personal property
Intellectual property, such as patents or trademarks

You can calculate this yourself or use a financial planner to help break it down.

Ways to boost your net worth in retirement

You don't need to take on a second career to grow your wealth during retirement. Consider these strategies:

Downsize your home. Selling a larger home and moving to a smaller one can reduce expenses and unlock equity.
Reduce your debts. Paying down credit card balances or car loans helps lower liabilities.
Delay Social Security. Waiting to claim benefits until later in your 60s can increase your monthly payments.

Don't compare yourself to social media "super-savers"

If you've seen influencers touting massive savings accounts, keep in mind that these stories often aren't realistic. Many of these creators are paid to promote financial strategies that may not apply to everyone. Focus on what works for your situation and avoid unnecessary comparisons.

Still working? Use catch-up contributions

If you're in your early 60s and still earning income, you may be eligible for special "super catch-up" contributions. In 2026, workers aged 60 to 63 can contribute up to $11,250 more to their 401(k), on top of the standard $24,500. The IRA contribution limit for 2026 is $7,500 for those under 50, with a $1,100 catch-up for those 50 and older, depending on your plan and eligibility.

Why the median matters more than the average

If your net worth is below the average, don't panic. High-net-worth households pull the average up, but they don't reflect the typical experience. The median shows the midpoint of all data, and it's often a better benchmark. Most retirees are closer to the median, and that's a much more attainable number to aim for.

Bottom line

Retirement can feel financially uncertain, but it's never too late to improve your situation. Whether it's downsizing your home, making catch-up contributions, or paying off debt, small steps can make a meaningful difference. The key is to stop comparing yourself to others and focus on what helps you feel secure in your financial future.

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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.