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Here's the Average Net Worth of 78-Year-Old Americans (How Do You Compare?)

Federal Reserve data shows what Americans 75 and older typically have accumulated and why averages don't tell the whole story.

By Adam Palasciano , Edited by Amanda Machado

Updated July 24, 2026

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Turning 78 can bring a new perspective on money. By this stage, most Americans are several years into retirement and relying on savings, Social Security, pensions, or investment income. Looking at national averages can help you see how your retirement savings stack up, but those numbers require context. Net worth is more than just an investment balance. It reflects a lifetime of financial decisions.

Here's what the data shows, and how to interpret it.

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Average net worth of 78-year-olds

According to the most recent data from the Federal Reserve Survey of Consumer Finances, the mean net worth of Americans age 75 or greater was $1.62 million in 2022, up 43% from 2019 (which includes those who are 78 years old).

If your net worth feels lower in comparison, this doesn't mean your retirement plan is problematic, as there are several other factors to consider.

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Why median net worth provides a clearer picture

The median can be a more realistic indicator of the average 78-year-old's net worth, as these numbers are not skewed by extremely high-earning individuals who can raise the whole average figure. Instead, the median is pulled from the center of a data set to provide an average or midpoint figure.

The median net worth of Americans age 75 or greater was $335,600 according to the Federal Reserve's survey.

If your number is closer to the median than the mean, your retirement outlook is likely still on track.

Why net worth can vary significantly

Large differences between the mean and median figures show how uneven wealth distribution can be, and comparing net worth by age makes that gap especially clear in the older brackets. A relatively small group of high-net-worth households significantly raises the overall average, even though most retirees hold far less.

From 2019 to 2022, both median and mean net worth increased, likely because rising home values and stock market gains outpaced inflation during that period. For many households, growth in housing equity and retirement accounts contributed meaningfully to overall wealth.

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How is net worth calculated?

Net worth represents the difference between what you own and what you owe (assets versus liabilities). Assets can include the value of your home, vehicles, investment accounts, savings accounts, and other property. Liabilities include mortgages, car loans, credit card balances, and any other outstanding debts.

For example, if you still owe $80,000 on the mortgage for your home and have $1,000 in credit card debt, those figures would be subtracted from the total value of your assets to calculate your current net worth.

How home equity plays a role in building wealth

For many 78-year-olds, home equity can make up a substantial portion of total net worth. Decades of mortgage payments combined with home price appreciation can create significant wealth on paper.

However, housing wealth is not always easily accessible without selling the property or using tools like a reverse mortgage. That distinction matters when evaluating how much of your net worth is truly available for spending in retirement.

The importance of shifting toward conservative investments as you near retirement

By age 78, most retirees have already transitioned away from aggressive growth strategies. Preserving capital often becomes more important than pursuing high returns, particularly if withdrawals are funding living expenses.

A diversified mix of bonds, dividend-paying stocks, and cash equivalents can help reduce volatility. The right allocation depends on your income needs, health outlook, and overall financial goals.

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Strategies to strengthen net worth

Even in your late 70s, there are ways to manage and potentially improve your financial position. Consider the following steps:

Revisit your retirement spending plan, or create one if you haven't yet formalized your budget.
Develop a clear withdrawal strategy, including which accounts to tap first to manage taxes efficiently, to prepare yourself financially
Review your investment mix to balance income generation with long-term stability.
Research senior tax benefits available in your state, including property tax exemptions or credits.
Reassess financial goals annually to ensure your plan reflects changing needs.

Working with a qualified financial professional can help you refine these strategies and adjust as circumstances evolve.

Bottom line

The average net worth for Americans age 75 and older reached $1.62 million in 2022, but the median figure of $335,600 paints a more realistic picture for many households. Housing equity, market gains, and long-term saving habits all influence where you fall within that range and whether you've been able to get ahead financially.

Ultimately, net worth is just one measure of financial health. Understanding how your assets support income, liquidity, and long-term needs is key to maintaining a stress-free retirement.

FAQs

What is the average net worth by age in the U.S.?

Net worth generally rises through your working years and peaks in the 65 to 74 age group before declining in retirement. According to the 2022 Federal Reserve Survey of Consumer Finances, median household net worth was about $39,000 under age 35, $135,000 for ages 35 to 44, $247,000 for ages 45 to 54, $364,000 for ages 55 to 64, $409,900 for ages 65 to 74, and $335,600 for ages 75 and older. Averages run much higher at every age because a small number of very wealthy households pull the figure up.

How much of a retiree's net worth is home equity?

Home equity often makes up a substantial share of an older household's net worth, since decades of mortgage payments combined with rising home values build significant wealth on paper. For many retirees, the home is one of their largest assets. The catch is that home equity is not easily accessible without selling the property or using a tool like a reverse mortgage, so it may not be available for everyday spending.

Why is median net worth lower than average net worth?

Median net worth is lower because the average is skewed upward by a small number of extremely wealthy households. The median represents the exact middle household, so half have more and half have less, which makes it a more realistic picture of a typical retiree. In the 75 and older group, the average of about $1.62 million sits far above the median of $335,600, showing how uneven wealth distribution is at the top.

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