Pandemic Drives Average Net Worth Above $1 Million for Americans in 50s, Though Median Remains Far Lower
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Average net worth exceeds $1 million for Americans in their 50s, driven by soaring home values and stock market growth during the pandemic.
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Median net worth, representing the middle household, is around $300,000 for 50-somethings - far below the $1 million average.
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Net worth grows from barely anything in your 20s to peak near $2 million in your late 60s, for those fortunate enough to attain such wealth.
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Compounding investment returns and home equity growth over decades are the main drivers boosting net worth over time.
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Healthcare costs rise while income declines for many in their 70s, leading average net worth to decline in the retirement years as savings are drawn down.