Are you ahead or behind financially?

Are you doing better than you thought? These numbers represent the median net worth and savings for each age group, not the goal you should be aiming for. I’m sharing this to give you perspective and help you realize you may be doing better than you think. For many people, seeing the real numbers is a reminder that progress matters more than perfection. These are not recommended targets, and ideally you should work to be well ahead of these numbers over time. But if you’re behind, that does not mean you're failing. If you're behind these numbers, then you might be getting behind financially. If you're at these numbers, you might be living paycheck to paycheck, and even if you have net worth tied up in the equity of your home or retirement accounts that you can't access at an emergency, at the age of 55, the average American net worth is $350,000 and $10,000 in savings. At 60, it's $500,000 and $15,000 in savings. And finally, coming in at the age of 65, the average American net worth is $550,000 and $20,000 in savings. If you're behind these numbers, then you might be getting behind financially.