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Here's the Average Net Worth of 64-Year-Old Americans (How Do You Compare?)

Understanding your net worth can help you plan as retirement approaches.

By Kristin Hitchcock

Edited by Kristy DeSmit

Updated Feb. 23, 2026

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Many Americans approach their mid-60s with mixed feelings. Retirement is finally within sight, but questions about savings, housing, and income security often become more urgent. Looking at how others are doing financially can offer a useful perspective as you make decisions about the next stage of life.

Here's a practical way to check up on your financial health as retirement approaches.

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Why net worth matters at age 64

At 64, many people are in the final stretch of their working years. Some plan to retire soon, while others intend to keep working part-time or full-time for several more years. Either way, this is often the moment when financial decisions feel more permanent.

Net worth gives you a snapshot of your overall financial position. It includes what you own minus what you owe, helping you see whether your assets are likely to support your lifestyle once paychecks slow or stop.

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What counts toward net worth?

Net worth calculations are straightforward, though the details can get complicated. Assets typically include:

Retirement accounts like 401(k)s and IRAs
Home equity
Savings and investment accounts
Businesses or rental properties
Vehicles and other valuables

From that total, debts are subtracted, such as mortgages, credit cards, and loans. For many 64-year-olds, home equity and retirement accounts make up the largest portion of wealth, especially after decades of saving and mortgage payments.

The average net worth for Americans in their early 60s

Federal Reserve data groups households headed by someone ages 55 to 64 together, which is the closest official data set for 64-year-olds specifically. According to the Survey of Consumer Finances, households in this age range have:

Average net worth: about $1.6 million
Median net worth: roughly $365,000

The gap between average and median is important. A small number of very wealthy households pull the average up, while the median shows what a typical household closer to the middle looks like financially.

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Why the median number often matters more

When comparing finances, the median is often more useful than the average. Half of households have more than the median net worth, and half have less.

For someone approaching retirement, comparing to the median can feel more realistic. Plenty of people still carry mortgage balances or are supporting adult children or aging parents. Falling short of the average does not necessarily mean retirement is out of reach, but it might signal adjustments are worth considering.

What financial life looks like at 64

Many Americans at 64 are juggling multiple financial transitions at once. Some are paying off final debts, while others are helping kids launch into adulthood. Medical planning and insurance decisions also start to move front and center.

Typical financial situations at this age might include:

Peak retirement account balances
Reduced or nearly paid-off mortgages
Ongoing support for family members
Planning Social Security claiming strategies

Each household reaches this stage differently, so comparisons should be used carefully.

Factors that influence net worth at this age

Several factors shape where someone lands financially by their early 60s. Career earnings, home ownership, and consistent retirement saving play major roles, but so do life events.

Common influences include job loss or career shifts, divorce, caregiving responsibilities, medical costs, and market downturns. On the positive side, long bull markets, employer retirement matches, and rising home values have helped many households build wealth over the past two decades.

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How 64-year-olds can strengthen their position

Even this close to retirement, financial adjustments can still make a meaningful difference. Small improvements today can ease pressure later. Some practical steps people often explore include:

Increasing final retirement contributions if income allows
Paying down high-interest debt
Delaying Social Security benefits to boost future income
Downsizing housing costs or relocating
Refining spending plans ahead of retirement

This stage often becomes less about chasing growth and more about protecting what has already been built.

Retirement timing is becoming more flexible

While 65 used to be the default retirement age, many Americans now work longer. Some do so for financial reasons, while others enjoy staying active professionally.

Working even a few extra years might allow retirement accounts more time to grow and reduce the number of years savings must support expenses. For many households, flexible retirement timing has become one of the most powerful financial tools available late in a career.

How to tell if you're on track

Instead of focusing solely on net worth comparisons, it helps to ask practical questions:

Will your savings cover expected expenses?
How much income will Social Security provide?
Are debts manageable or nearly gone?
Do you have a plan for health care costs?

Someone below average net worth might still be well-positioned if expenses are low and income streams are stable, while someone above average could still face challenges if spending is high.

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Bottom line

By 64, most people are close enough to retirement that the numbers start to feel very real. Looking at average net worth figures can help you see where you land, but what matters more is whether your savings, Social Security plans, and expected expenses line up with the kind of retirement you actually want.

One thing many people don't realize is that these last working years can still have a big impact on their future finances. A few more years of saving, working, or delaying benefits could move you closer to a stress-free retirement than you might expect today.

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