NET WORTH: What is the Average Net Worth in America in 2023? (Plus, net worth by age, more...)

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@cardojp Жыл бұрын

Love seeing these financial breakdown videos. Gives you a good perspective on how you compare to the rest of the nation. Now I'm curious about the debt side of how people hold up in that regard. Great content as always, thanks Adam!!!

@saksitb3491 3 ай бұрын

Great information break down into details

@mitchell.9632 Жыл бұрын

It is that annual tradition. Thanks for the update!

@saibushayer Жыл бұрын

Love these videos! Can we have a video that only focuses on the top 5% of all these categories?

@jgtdragon Жыл бұрын

Good info!

@dianabinkowski3927 6 ай бұрын

I did the math and my net worth is approximately $500,000. I am 75, retired, no credit card debt, no car payment, bank account of over $100k and $200k equity in my home. My furnishings in my home are over $150k. Income of over $85k a year so I am good.

@howellwong11 6 ай бұрын

I'm doing better than you except that I make only $55K a year and am 91 years old.

@TheFirstRealChewy 6 ай бұрын

What's your annual expenses? $500K seems low, but it depends on your expenses and other forms of income.

@user-dx6jo1cm9c 5 ай бұрын

and that little comment is called "Look at me, Im rich" when you are not, sadly...LOL

@leicestersq1 4 ай бұрын

Your income, is it from a company pension scheme? In which case what is the value of that asset?

@betruetoyourself7162 7 ай бұрын

Very interesting

@dimitrovajunkie 10 ай бұрын

I would imagine that a reason for the West Coast's lower net worth outside of home ownership compared to the East has to do with the exorbitant costs of homes out West. When more money goes toward buying and maintaining and paying off a house, you have less left over for investing, for example. Just an educated guess.

@irisflower9030 11 ай бұрын

I think it’s also important to point out that average American household net worth is illiquid, it’s locked not only in home equity but also retirement accounts, which means there is not a lot of cash on hand. So when people hear that someone has 2m net worth but they don’t live in a huge house or don’t drive a Mercedes it’s likely because they’re not liquid but pretty much debt free, which is also a great place to be.

@rda9441 9 ай бұрын

Can you do the top 5% to 10% networth by age and married vs single? Thanks

@TS-yx8gj 5 ай бұрын

What is the asset calculation you are using? I count fully vested retirement plans, household items including jewelry and antiques, and cash/bank balances; +/- home equity.

@thebubba1 5 ай бұрын

looking at the 45-54 range makes me feel much better about the financial decisions ive made

@eyecritique5044 Жыл бұрын

Hi Adam, I know my question has nothing to do with your presentation tonight. However, would you help me just the same with one of my credit cards, which is the Southwest card that cost $149 a year. So, I got this card last year sometime in July coz I thought it would work better for domestic flights and the fact we do have small SW hub here. Unfortunately, before I flew to MN, I have had the worst customer service and took hours and hours just to find the right representative to fix my problem. And I found that it was very stressful just to take advantage of the “upgraded boarding". I think I would rather just pay for a higher price. Now, I do have a very good relationship with Chase, I have 5 of their cards. Since 2017. Do you think closing my SW card on my anniversary date would be ideal? Would Chase take back my points accumulated for getting this card? Also I don't want to downgrade because I'm realizing I would rather have a designated seat every time I fly. Anyhow, please help with some advice and thank you for giving me your time. Lou

@jamesoakes4869 8 ай бұрын

I don’t believe that. I have about 1.7 million and I see everyone with newer cars and bigger houses.

@ProudMoney 8 ай бұрын

Maybe you live in a neighborhood filled with above average wealth.

@irwinsaltzman979 7 ай бұрын

Cars can be leased, homes can be 95% mortgaged meaning these folks have very low net worth.

@Cosmo4357-mj1tw 5 ай бұрын

A lot of poser's out there living above their means.

@InterviewInterrogations 5 ай бұрын

James…I think the other replies tell the story. You can have a lot of “things” “nice things” and “fancy things”. If you have not yet paid for them, your net worth is not great. You see this issue in many “upscale” communities. What happens next are car repos and mortgage defaults. Also nervous breakdowns and ulcers. Work hard, avoid excessive spending, and avoid excessive debt.

@InterviewInterrogations 5 ай бұрын

@@Cosmo4357-mj1twlots!

@FinanceNation Жыл бұрын

A household of one at 75k vs a household of 2 at 150k...

@deanmiller294 4 ай бұрын

Comparison is the enemy of joy. I stopped worrying about this years ago and sleep much better 😊

@JetFire9 3 ай бұрын

I sleep much better knowing I have so much more than you.

@lianalonge1984 Жыл бұрын

I’m worth more dead than alive. 😅 But seriously, this is a good educational video. As a single person, I think I’m in a good place due to not having much debt, my little savings, retirement contributions, a few money market accounts and stocks, plus my home value. I can retire comfortably in 5 years right here in one of our nation’s states with the highest cost of living.

@SuperVeganShark Жыл бұрын

It’s never enough! Lol😅

@oaxaca1948 5 ай бұрын

net-worth means home, car, and other assets. not just the money you have.

@VictorMartinez-zf6dt Жыл бұрын

Im in the low 25%. In 28 years old

@ProudMoney Жыл бұрын

Probably not that low if compared only to people in your age range.

@VictorMartinez-zf6dt Жыл бұрын

@@ProudMoney Im worth roughly, $14k, but with 23k in student loans and $20k in retirement + cash assets

@johnnyboyvan 7 ай бұрын

You have lots of time to build your networth.

@Bubbaxmonster Жыл бұрын

😂 ik I'm broke

@docsays Жыл бұрын

Do you count 401ks or retirement accts for net worth?

@mnmaddict37532 Жыл бұрын

For sure. Add all retirement accounts + investment brokerage accounts + checking accounts + home value + car value. Subtract all your liabilities (Mortgage, credit card debt, car loans, any other loans)

@buildingbuildercip8292 7 ай бұрын

I’m somewhere around the top 2%.

@user-dx6jo1cm9c 5 ай бұрын

in what the lower 2 percent, or IQ.....only fools and children say things like that?

@Ann-pt2je 5 ай бұрын

It’s hard to believe those numbers.

@thebubba1 5 ай бұрын

alot of irresponsible people out there dragging the average down

@mrjuvy49 3 ай бұрын

We have done a net worth statement about 30 yrs, this looks very accurate to me. Many have called this your" adult report card."

@djpuplex Жыл бұрын

A lot this is home value too which is sad.

@Vankel83 6 ай бұрын

Vocation High School degree, College boy with Graduate Degree needs to save more money to keep up with me.

@leicestersq1 4 ай бұрын

Do these average figures include all pensions including federal employment scheme pensions? I suspect that they are not included even though they have great worth.

@thetechtrons3778 Жыл бұрын

third

@bienvenue3816 11 ай бұрын

No averages please. Median por favor. Averages are mostly meaningless in a world of large dispersion. If Elon Musk moves to a village with only 99 homeless people, the average net worth of the village will be $2.2bn... This is statistically correct but tells nothing about the fact that 99% of the village actually sleeps on the pavement and cannot afford a home. The median net worth of the same village however will show a more realistic picture (zero or negative)

@martywilliard 10 ай бұрын

He said that in the beginning. He is using MEDIAN ... watch the beginning

@WilliamMurphy-uv9pm Ай бұрын

@@martywilliard All of his charts say average; not median.

@buildingbuildercip8292 7 ай бұрын

Man!! Blacks median is at $20,680?? That explains the looting problem.

@TheFirstRealChewy 6 ай бұрын

Given that it hasn't even been 200 years since slavery ended, and the continued oppression and supression of black people following its ending (Jim Crow Laws), it's not surprising that black people are way behind.

@nationalzero269 5 ай бұрын

@@TheFirstRealChewy It's more like fatherless behavior.

@oaxaca1948 5 ай бұрын

you think only black people loot, white people loot also. white and black. that's what ebay is about. steal it and sell it. white and black.

@thebubba1 5 ай бұрын

@@TheFirstRealChewy .....You mean buying cars you cant afford.....buying clothes you cant afford.....getting multiple women pregnant ......wasting money on partying and not investing your money into appreciating assets.....losing your temper every time you have a minor confrontation with another person..... ..is that the oppression youre talking about?......Or is every bad life decision black people make still white peoples fault?....The amount of woke ass companies out there that will hire you for a job you arent remotely qualified for simply because youre black so they can virtue signal is disgusting to me.....and yet you sit pissing and moaning about how oppressed you are.....But i guess thats easier than actual effort

@mrjuvy49 3 ай бұрын

Probably the concern for not having a paid off home or equity to pass down to generation, also bad credit and low wage jobs.

@FinanceNation Жыл бұрын

Don't forget net worth by sex or race

@user-dx6jo1cm9c 5 ай бұрын

If you have an Income of 150K a Year, and you rent, and have 60K in cedit crad debt, you are just as Poor as the homeless, because you have no net worth. You are riding to the poor House in a BMW and that is all

@sonder007 5 ай бұрын

Blacks has been here for over 250 years and still struggling. Asians been here for less than 50 years and balling 😂

@fialee8ca132 3 ай бұрын

This is one of the worst I've seen in trying to recap some basic numbers. Changing the definition of median to average... just use the real definition vs making up a definition. Also crazy rounding of values. Makes all this suspect and has a feeling of being made up. What is the source... pulling it out of one's arse?

@hightops77 3 ай бұрын

The house your living in doesn’t count in net worth . Net worth is cash, stocks , bonds .. etc. things that can be converted to cash fairly easily.

@joking6052 3 ай бұрын

You are talking about liquid assets. You are confused. Apartment buildings, homes, businesses, real estate, land , cars, art, precious metals, are all not liquid but are probably the most valuable assets.

@mrjuvy49 3 ай бұрын

Yes, you count equity, the house could be turned to cash