As you gear up for retirement—or maybe you’re one of those people who plan to never retire—there’s one question that might quietly linger in the back of your mind: Am I doing better than most?
While comparison is the thief of joy or so they say, but it can also be a practical tool—especially when money is still taboo to talk about in everyday life. If you’ve ever wondered how your finances stack up next to your peers, here’s your chance to peek behind the curtain.
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The best data we have on American household wealth comes from the Federal Reserve’s Survey of Consumer Finances. Every three years, the central bank gathers detailed information on everything from how much people have in their retirement accounts to how much they owe on their credit cards. It’s a goldmine of financial transparency—spanning income, assets, debt, and demographics.
The most recent survey covers data from the end of 2022, and yes, plenty has changed since then. The markets have rallied. Home values have jumped. But until the next release in 2026, this is the most current and comprehensive snapshot of where American households stand.
According to Fool.com’s analysis of that data, the top 10% of households aged 50 to 59 had a net worth of at least $2,629,060. The median household in that age bracket? Around $285,000—a massive gap that underscores just how far ahead the wealthiest 10% really are.
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It’s also worth noting: many of those high-net-worth households still carry debt. In fact, the average household in the top 10% has about $375,000 in debt, largely tied to mortgages. And that’s not necessarily a red flag—especially if the mortgage comes with a low fixed rate. Paying it off aggressively can actually limit your liquidity. In most cases, smart investing beats rapid repayment, and having flexible access to cash may matter more than being debt-free.
Of course, “rich” is relative. For one person, being wealthy might mean having a paid-off house and a modest retirement fund. For another, it might mean leasing luxury cars and flying first class to Europe. Lifestyle choices, spending habits, and risk tolerance all shape what wealth looks like—and how much you need to feel secure.
So if you’re already among the richest 10%, that’s something to celebrate. And if you’re still building? Keep going. Some people take the slow and steady route. Others swing big on investments or side hustles. At the end of the day, it’s your life, your money, and your definition of financial success.
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