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Here's the Average Net Worth of 73-Year-Old Americans (How Do You Compare?)

The Federal Reserve reported increases in net worth across age groups.

By Laura Gesualdi-Gilmore

Edited by Lisa Dammeyer

Updated Jan. 23, 2026

When planning for retirement — whether you're retired already or hoping to be soon — figuring out how much you have versus how much you'll need to be comfortable is no easy feat. From Social Security to retirement accounts to the cost of living, there's a lot to consider. Looking at your net worth compared to others your age can give you a general idea of your retirement outlook.

To help you see how your retirement savings stack up, at least comparatively, here is the average net worth for a 73-year-old today and strategies to employ if you feel yours falls short.

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Average net worth of 73-year-olds

According to the most recent data from the Federal Reserve Survey of Consumer Finances, the mean net worth of Americans in the 65 to 74 age group was $1.79 million in 2022, up 27% from 2019.

Those averages were not broken up by specific years, but the 65 to 74 group had the highest mean net worth out of any other age group in the survey.

If your net worth feels low by comparison, this doesn't mean your retirement plan is flawed. There are other factors to consider.

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Median net worth offers a clearer picture

The median can be a more realistic indicator of the average 73-year-old's net worth, as these numbers are not skewed by extremely high-earning outliers who can bring the whole average up. Instead, the median is pulled from the center of a data set to give an average or midpoint.

The median net worth for Americans in the 65 to 74 age group was $409,900 in the Federal Reserve's survey.

If your number is closer to the median than the mean, your retirement outlook could possibly still be quite healthy.

Why net worth varies so much

Retirees may look at the mean net worth outlined in the Federal Reserve's latest report and feel woefully unprepared to support themselves in retirement.

Among other factors that affect net worth data, it's important to keep in mind that the mean is skewed upward by a select few individuals. For example, Oprah Winfrey is part of the 65 to 74 age group — and her billions no doubt help pull the mean into the millions.

For typical Americans, the report notes that the significant jump in median net worth indicates a narrowing of wealth distribution between 2019 and 2022. Rising home and corporate equity prices exceeding inflation led to a net worth hike for Americans overall, according to the data.

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How is net worth calculated?

Net worth is calculated by subtracting a person's liabilities from their total assets. Your total assets would include equity that you have in your home, car, and other valuable items, as well as any investments and savings accounts. Liabilities include any debt.

If you still own $50,000 on the mortgage for your home and have $500 in credit card debt, for example, those amounts would be subtracted from the total value of your assets to calculate your net worth.

Home equity's role in wealth building

To this day, purchasing a home is one of the key ways to build wealth in the U.S., and this holds true even if you still owe some money on your home in your 70s. Many adults in the 65 to 74 age group bought homes at much lower prices and have benefited from rising values.

Deciding whether to tap into home equity can be a difficult choice, however.

Many retirees downsize, while others choose to live in paid-off homes and enjoy the cut in cost of living. There is no right answer — financial goals vary a great deal between families. It's still important to recognize your equity's role in retirement planning.

Investing in retirement

Many new retirees are tempted to play it safe when it comes to investments, choosing lower risk options like CDs or money market funds for their nest egg, but growing your net worth over what could be decades of retirement often requires more diversity.

While it's important to have a "liquidity" bucket of cash in things like high-yield savings accounts to address any unexpected costs, putting other savings into stocks and bonds could offer the potential for greater growth.

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Strategies to strengthen net worth

There are certainly steps those who are still working can take to increase their net worth, including contributing more to a retirement account and prioritizing paying off debt.

However, if you are 73 and no longer working, know that there are still strategies that can help.

Consider the following steps:

Re-assess your retirement spending plan (or create one)
Create a withdrawal strategy (note which accounts to withdraw from first and why)
Review your investment strategy to balance risk and stability long-term
Explore senior tax benefits in your state
Review financial goals and strategies annually

Gaining confidence in financial planning

For many, hearing the average net worth for a 73-year-old may be a source of anxiety. Feeling confident in your ability to budget can do wonders for peace of mind, but it's not easy to get there.

Taking the time to track your monthly expenses, cut spending where you can, and, if possible, meet with a financial advisor to make sure your retirement accounts are invested in a way that makes sense for your lifestyle and financial goals can make a big difference.

Transitioning from a life phase in which you're collecting income to one where you're only spending naturally causes stress, but it's not too late to make financially savvy changes.

Bottom line

The Federal Reserve survey, overall, showed positive results. Increases in both median and mean net worth were almost universal across different types of families and demographics.

Setting yourself up for a stress-free retirement may seem like a pipe dream, especially with so much talk of inflation and uncertainty surrounding the economy these days, but there are steps you can take to feel more comfortable and nurture your net worth in these golden years.

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