Average US Household Net Worth Tops $1 Million, Though Typical 50-Year-Olds Have Far Less Saved
- Average US household net worth hit $1.06 million in 2022, per Federal Reserve data
- Americans typically reach millionaire status sometime around age 50
- Median net worth for 50-somethings is a more modest $300,000
- Expert suggests aiming for $500k+ in savings by your 50s to fund retirement lifestyle
- Net worth includes cash, stocks, 401(k), home equity minus debts and mortgage