According to the Federal Reserve’s triennial Survey of Consumer Finances, the median net worth of households with heads aged 75 and above is the highest among all age groups, with 18 million American households falling into this category. Data shows that the median net worth of this group was $504,000 in 2025.
CBS News reported that the survey assessed the financial health of American households, measuring indicators such as wealth, income, as well as debt situations including credit card debt and student loans. All data in the report has been adjusted for inflation.
Households with heads aged 75 and above have seen the highest increases in median net worth and income growth among all age groups. Since 2022, the median income of this group has grown by 24% to reach $67,000. The Federal Reserve noted that these older Americans are likely benefiting from the appreciation of their retirement assets.
The survey results highlight how the strong performance of the stock market in the past three years has boosted the wealth of many Americans. During the period covered by the Federal Reserve report (end of 2022 to 2025), the S&P 500 index rose by approximately 78%.
Benefitting from the bull market in the stock market and record employee contribution rates, the number of 401(k) accounts managed by Fidelity Investments with balances of at least $1 million surged to 769,000 in the second quarter, reaching a historical high.
Meanwhile, the Federal Reserve’s survey found that the median net worth of the wealthiest 10% of American households soared by 31% between 2022 and 2025, reaching $3.6 million. Households with heads aged 75 and above account for approximately 13.4% of all U.S. households, making it the smallest age group. Federal Reserve data shows that households with heads aged below 35 represent the largest proportion, accounting for about one-fifth of all U.S. households.
Despite the significant increase in wealth among the oldest and wealthiest Americans, the report also indicates that the financial situation of millions of people has deteriorated in recent years. Data shows that about 20% of American households were in debt in 2025 (including mortgages, credit cards, payday loans, and other credit), a 7% increase from 2022.
This growth may reflect the impact of prolonged high inflation since the outbreak of the pandemic.
The Federal Reserve, when discussing the data from 2025, stated, “Compared to previous surveys since 2010, household indebtedness is now more common.”
The report shows that about one-twelfth of households are using 40% or more of their income to repay debts, reaching a new high in at least 12 years.
According to data from the U.S. Census Bureau, as of 2025, nearly 10% of Americans aged 65 and above were living below the poverty line, compared to about 9% a decade ago.
The Federal Reserve found that between 2022 and 2025, the median net worth of typical households with heads aged below 35 plummeted by 23% to $33,000. The main reason for the shrinking wealth of young families over the past three years was the decline in returns on business equity.