Turning 60 is one of those financial inflection points that nobody should walk into blindly. It’s the age where decades of earning, saving, and investing either show up on your balance sheet, or they don’t. For the middle class, the picture at 60 is genuinely complicated. The data shows real progress compared to prior generations, yet a persistent gap between what people have saved and what a comfortable retirement actually costs. The numbers tell a striking story, and the experts who study them have a lot to say about where middle-class Americans really stand at this critical age.
What the Data Actually Says: 10 Key Insights into Middle Class Net Worth at 60
Understanding where you stand financially at 60 requires more than a quick glance at a savings account balance. Net worth – total assets minus total liabilities – paints a far more complete picture. From Federal Reserve surveys to Empower’s real-time dashboard data, financial researchers have spent years tracking exactly how middle-class wealth builds, peaks, and gradually shifts heading into retirement. Here are the ten most important things the data and experts tell us right now.
1. Net Worth Peaks in the 60s – and the Numbers Prove It
Net worth tends to peak in the 60s, largely due to the compounding of savings over a lifetime and the fact that people are just entering retirement and starting to withdraw from their investment accounts. This makes 60 a genuinely pivotal age to take stock of your financial picture. As the data shows, net worth tends to increase over a person’s lifetime until the 60s, at which stage it gradually begins to decrease as income falls during retirement and funds from investment accounts are withdrawn to meet living expenses.
Empower’s anonymized dashboard data shows average net worth rises with age. As of January 2026, average net worth is $139,243 in the 20s, $325,952 in the 30s, $750,578 in the 40s, $1,364,050 in the 50s, and $1,577,907 in the 60s. Net worth then begins to decline gradually in the 70s ($1,456,151) and beyond. The 60s are, without question, the wealth peak for the typical American household.
2. Average vs. Median: Two Very Different Stories
While average net worth is good to know, median net worth by age may be more representative of the state of wealth across the country. That’s because median net worth considers the 50th percentile of earners – those right in the middle – while average net worth factors in outliers of people with very high and very low net worths. Focusing on the median is a more useful way to help determine how your wealth compares to others in your age range. This distinction matters enormously when assessing where the middle class truly stands.
Median figures are far lower than averages, highlighting how a few high-wealth households skew results. For instance, in the 50s the average net worth is $1,364,050, but the median is only $180,227. This means half of households in that age range have less than $180,227 in net worth, offering a more realistic benchmark. By the time people reach their early 60s, that median climbs, but the gap between average and median remains vast.
3. The Federal Reserve Puts Middle Class Net Worth in Perspective
According to the Federal Reserve’s 2023 Survey of Consumer Finances, Americans’ median net worth peaks in their mid-60s and 70s, then starts to decline in their non-working years. In 2022, the median net worth of Americans 55 to 64 was $364,500, a 48% increase from three years prior. That’s a meaningful jump and reflects the impact of rising home values and growing retirement account balances over that period.
Those 65 to 74 had a median net worth of $409,000, which was only a 33% increase from 2019. According to the Fed’s data, Americans’ median net worth climbed 37% across all generations. The median household net worth has increased 37% since 2019, after inflation – the sharpest increase recorded in the history of the survey and the highest household net worth ever recorded when adjusted for inflation. Strong housing and stock markets drove much of this momentum.
4. Who Counts as Middle Class in 2025 and 2026?
One widely cited framework comes from the Pew Research Center, which defines middle-income households as those earning between two-thirds and double the median U.S. household income, adjusted for household size. Middle-class annual incomes range from $41,392 to $124,176 in 2025, according to estimates based on guidelines from the Pew Research Center. That’s a wide band, and where you fall within it influences how much wealth you can realistically accumulate by 60.
About half of U.S. adults – roughly 52% – lived in middle-income households in 2022, according to Pew Research Center’s analysis of government data. According to Pew Research, the number of Americans considered middle class is declining. In 1971, 61% of Americans were “middle income.” By 2023, that share had dropped to 51%. The class itself is narrowing, which makes net worth benchmarks all the more important for those still in it.
5. Home Equity Is the Middle Class’s Biggest Wealth Driver
The typical median household is far more concentrated in home equity and retirement savings, with limited exposure to stocks or private business ownership. For middle-class Americans at 60, the home is often their single largest asset, making homeownership a critical factor in overall net worth. The average net worth for homeowners was $1,525,200 compared with just $153,500 for renters, according to Fed data. The gap is staggering and underscores why owning a home matters so much to long-term wealth.
Much of the increase in net worth is being driven by home prices increasing in the United States. From the first quarter of 2019 to the first quarter of 2022, the median price of houses sold in the US went from $313,000 to $433,100, an increase of 38%. The median price of an existing home hit a record $435,500 in June 2025. For homeowners who bought years ago, that appreciation is showing up directly in their net worth at 60.
6. Retirement Accounts: The Second Pillar of Wealth at 60
Retirement savings are a key component of Americans’ net worth. Retirement assets accounted for roughly a third – 34% – of all household financial assets in the U.S. at the end of June 2025, according to the Investment Company Institute. Total U.S. retirement assets totaled $45.8 trillion at the end of June 2025. Those are enormous numbers, but the distribution is uneven, and middle-class savers often hold far less than the averages suggest.
The average 401(k) retirement balance across all age groups is $144,400, according to Fidelity Investments’ Building Financial Futures Q3 2025 report. Savers aged 60 to 63 can add even more to their nest egg: if they meet income requirements and their employer’s plan allows it, they can take advantage of a “super catch-up” provision in Secure 2.0 and contribute up to $11,250, meaning a total 401(k) contribution of $35,750 for the year. That provision is a genuine opportunity for those who feel behind.
7. Education and Net Worth: A Gap That Widens Over a Lifetime
The average net worth for those with a college degree was $1,992,900 versus $413,300 for Americans with a high school diploma, according to Fed data. By the time someone reaches 60, the compounding effect of higher lifetime earnings – driven by education – has had four full decades to widen this gap. It’s one of the most persistent wealth divides in the American data.
At every additional stage of education, both average and median net worth increase for American households. One concern Americans have is taking on student loan debt, but picking the right major can help pay off that debt while increasing net worth. The difference between college graduates and those who did not finish high school is stark: the median net worth for those with a college degree is over 11 times higher than the median net worth of those without a high school diploma. That multiplier effect is hard to overstate when thinking about where people land at 60.
8. Debt Is the Silent Destroyer of Middle-Class Net Worth
Given the shrinking window before retirement, one of the most important net worth-building steps for those in their 50s and 60s may be to max out retirement accounts. It’s also critical to consider paying down outstanding debt during this time. For middle-class households approaching retirement, carrying significant debt into their 60s can be financially devastating. Since debt is subtracted from assets to determine net worth, the less debt a person carries, the better.
Debt significantly impacts net worth because net worth is assets minus liabilities. Recent reports show the average consumer debt among Americans was nearly $17 trillion by the end of 2022. As people age, they often have less debt because they’ve paid it down over the years – but those who haven’t can see their otherwise healthy asset base significantly reduced when liabilities are subtracted from the equation.
9. The “Comfortable” Wealth Perception and What It Means at 60
According to Schwab’s 2025 Modern Wealth Survey, Americans reported that a household net worth of approximately $839,000 feels “financially comfortable,” up from $778,000 in 2024. That’s a notable shift upward in just a single year, reflecting ongoing concerns about inflation and rising costs. For middle-class households at 60, it sets a tangible psychological target.
According to Schwab’s 2024 Modern Wealth Survey, Americans perceive an average net worth of $2.5 million as wealthy. That figure is well beyond where most middle-class 60-year-olds find themselves. The middle class sits around the 50th percentile, with a median household net worth of roughly $193,000 for all adults. This typically includes home equity, savings and a 401(k) account. The gap between the perception of wealth and the reality of middle-class savings is one of the defining financial tensions of this era.
10. What Experts Say You Should Actually Have at 60
The 50s and 60s mark the beginning of the “stretch run” toward retirement for many people. The time window for building net worth during the wealth accumulation stage of life is starting to shrink as retirement draws closer. Given the shrinking window before retirement, one of the most important net worth-building steps in the 50s and 60s may be to max out retirement accounts. Experts are consistent on this point: 60 is not the time to coast.
When it comes to growing net worth, investing is key, says Robert R. Johnson, a chartered financial analyst and professor of finance at Creighton University’s Heider College of Business. “Individuals need to be taught to invest and not simply save in order to build net worth. The surest way to build true long-term wealth and a higher net worth is to invest in the stock market. Starting early is the key to successfully building wealth because of the effect of compound interest,” he says. Even at 60, with roughly two more decades of life expectancy ahead, those principles still apply.
Where the Middle Class at 60 Really Stands – and What It Means for the Road Ahead
Net worth often peaks around retirement age, then declines as people begin withdrawing savings, spending down assets, and experiencing reduced income. Required minimum distributions, healthcare costs, and lifestyle spending all contribute. The picture for middle-class Americans at 60 is one of genuine complexity: real progress compared to previous generations, yet significant ground still to cover for a truly secure retirement. The data from the Federal Reserve, Empower, Fidelity, and Pew Research all tell a consistent story: those who own homes, invest consistently, and manage debt wisely arrive at 60 in a far stronger position than those who don’t.
Retirement savings and pension rights acquired during working years have implications for income sources and financial well-being later in life when most people reduce their work hours or stop working entirely. In 2024, Social Security remained the most common source of retirement income, but 81% of retirees had one or more sources of private income. In 2024, 82% of all retirees said they were doing okay or living comfortably financially – a number that, while encouraging, still leaves nearly one in five retirees in a harder situation. At 60, the decisions made today still have real power to shape which side of that line a person ends up on.