Here's the Average Net Worth of American Boomers (How Do You Compare?)
- - Here's the Average Net Worth of American Boomers (How Do You Compare?)
Michelle SmithJanuary 6, 2026 at 3:00 AM
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If you're a member of the baby boomer generation, meaning you were born between 1946 and 1964, retirement is likely at the forefront of your mind.
Whether you're planning to retire early or you think you'll be working into your 70s, it's important to check up on your retirement readiness frequently. If you're not sure how much money you need to retire, comparing your finances to those of your generational cohort can offer a useful baseline.
Keep reading to learn about the average net worth of your fellow baby boomers, see how you stack up, and learn which steps to take to increase your value before retiring.
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The average net worth of baby boomers
As of 2026, the youngest baby boomer is in their early 60s, while the oldest baby boomer is in their late 70s. The Federal Reserve, which compiles data on the net worth of Americans, breaks down its financial data by decade rather than by generation, so we've done the same below.
According to the Fed's most recent report, American boomers have the following mean/average net worth:
Ages 55 to 64: $1,564,070
Ages 65 to 74: $1,780,720
Age 75 and older: $1,620,100
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The median net worth of baby boomers
Averages often skew higher than medians because a few extremely high earners can significantly influence the average. Medians represent the middle number of a set and can be more accurate. With that in mind, here is the report on the median net worth of the age groups above:
55 to 64: $364,270
65 to 74: $410,000
75 and older: $334,700
How is net worth calculated?
Net worth is calculated by totaling all your assets, then subtracting all of your liabilities (or debts). Assets can include real estate, life insurance policies, checking and savings accounts, investment accounts, vehicles, business equity, and any other financial assets.
Liabilities can include credit card debt, mortgage payments, car loans, student loan debt, home equity loans, and any other type of debt.
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How do you compare?
If your net worth is below the average for your generation, try to keep a cool head. First, remember that numbers aren't everything, especially when it comes to averages.
Next, remember that whether you're an older boomer who's already retired or a younger boomer with more than a decade remaining in the workforce, you still have time to build your worth. Get started with our tips below.
Make sure you're signed up for your employer's 401(k) match
Many (though not all) employers offer to match a certain percentage of their employees' investment account contributions. If you haven't perused the company handbook in a while, give it a look through or chat with HR to find out if your employer has a match. If they do, sign up soon. Your employers' contributions don't count towards your annual limit.
Double-check that your investment portfolio aligns with your age
As you get older, your investment portfolio should become more conservative to ensure you don't lose your retirement savings fund to the whims of the market. Check up on your portfolio and consider reallocating assets that come with more risk than reward.
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Get serious about downsizing before retirement
You don't have to wait until you retire to start downsizing. In fact, selling possessions you don't need or moving into a smaller living space now can help you start spending less and saving more. If you work remotely, you could even consider moving to a lower-cost area where everything from homes to groceries costs less.
Remember to sign up for Medicare on time
You become eligible for Medicare at age 65, and there are lifelong penalties for signing up late. If you still have employer-sponsored health insurance, you can submit a waiver with proof of insurance. Otherwise, sign up early and start taking advantage of affordable, government-sponsored healthcare.
Do the math on when to start taking Social Security benefits
While you can start collecting your Social Security benefits as early as age 62, waiting can be a smarter financial strategy. Taking benefits before you hit your full retirement age means you'll get a reduced benefit check for the rest of your life. On the flip side, if you wait until after your full retirement age to collect benefits, your check will be slightly higher thanks to a delayed retirement credit.
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Prioritize catch-up contributions
The IRS limits how much money you can stash in an investment savings account each year, but once you reach age 50, that annual cap grows so you can start saving more. For 2026, you can contribute an extra $8,000 as a catch-up contribution, bringing your yearly maximum to $31,500.
Think about picking up a side gig
Downsizing and budgeting are well and good, but perhaps nothing will increase your net worth faster than picking up an additional source of income. Even something small, like selling crafts on Etsy, can add up over time, especially if you put all the money from that job into a high-yield savings account or IRA.
Schedule an appointment with a financial planner
Want personalized advice on how to build your net worth? A qualified financial planner can help you calculate your net worth, then look at your finances and recommend changes that will help you catch up to your peers ahead of retirement.
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Bottom line
Enjoying a stress-free retirement is about more than just finances. Along with focusing on financial readiness, you'll want to consider factors like living near family, achieving your bucket-list items, and prioritizing your health.
Still, having enough money to maintain your current standard of living can help you enjoy the retirement you always wanted to, so continuing to build your net worth will pay huge lifestyle dividends in the long run.
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Source: “AOL Money”
