A lot of people wonder how they’re doing (financially) relative to others. It’s an interesting question to ask, with a complex answer. For the sake of just sharing some interesting data, we’ve outlined the answer below, but it’s important to emphasize that you can’t compare apples to apples. Not everyone is dealt the same deck of cards, so if you find yourself way off from the averages below, don’t let this make you feel like you’re failing. What matters is that your net worth (assets minus liabilities) is trending upward over time, and that once you reach retirement age, you’ll have a nest egg large enough to be able to sustain your lifestyle with a 4% draw.
Here’s what we know about the means and averages:
For a more age-specific breakdown:
As a reminder: it doesn’t matter if you’re 25 or 45 – starting today is the best thing you can do.