What Is The Average And Median Net Worth For Those 35 – 44 Years Old and How Do You Stack Up | Retirement Planning for the Future

Troy Sharpe: We all want to know how do we compare to others in our age range when it comes to net worth. In this video, I’m going to tell you the average and median net worth for those aged 35 to 44.

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Hi, I’m Troy Sharpe, CEO of Oak Harvest Financial Group, CERTIFIED FINANCIAL PLANNER™ Professional (CFP®) and host of the Retirement Income Show. If you could take a moment to hit that thumbs up button, what that’ll do is YouTube will show this video to other people so they can understand where they compared to others when it comes to net worth, help them get on the right track, maybe save a little bit more, spend a little bit less. If you could do that, YouTube will show this video to other people.

Before we get into net worth, I want to talk to you a little bit about the average and the median. The average can sometimes be skewed because of one large number or an outlier. If we look at this data series, we have nine zeros and a 1 million number. The average is calculated by simply adding all these up, which equals a million, you divide by the number of data points, 10, to get an average of a 100,000. The average of this data series obviously is a bit skewed because of this one number on the outside.

The median is zero. The median is right in the middle. When we look at these numbers for net worth, keep this in mind, that the averages can be skewed because of some very high end data points, but the median is if we had a million people, and a million people here, the median is right in the middle.

For 35 to 44 year olds, the average net worth is $437,700, but the median is 91,110. This will help you understand where you are when it comes to the average net worth, and remember, this is going to be skewed by some people in this demographic who have done a very, very good job of saving. They’ve chosen to invest from a young age, and they don’t spend more than they make. The median, this is a more accurate reflection of probably where you should compare yourself to.

You’re going to have a lot of people here who have zero, and actually have negative net worth, because they have tons of debt. You’re obviously going to have some people in this demographic that have a million dollars, two million, even more in net worth.

This video is going to be part of a series where we’re going to take information from the Federal Reserve website and communicate it to you, so you understand how you compare to others in your age range when it comes to income and many other financial categories. If you’d like to receive that information, hit that subscribe button, hit that bell icon, so you’ll be notified, and we look forward to continuing to deliver you this content so you can know where you stand.

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