A recent analysis has shed light on net worth figures that could place individuals in the upper middle class category at age 50. The findings draw from the Federal Reserve's Survey of Consumer Finances, with the most recent data from 2022.
For those aged 45 to 54, the median net worth stands at approximately $247,000. A proprietary analysis by Harness Wealth of the same data indicates that at the 80th percentile within this age group, net worth reaches $1,031,020.
Consequently, to be considered upper middle class around age 50, net worth likely needs to fall somewhere between the ballpark of $250,000 and $1 million, depending on the specific definition used. If based on being slightly above average, about $250,000 would suffice. If defined by being in the top 20% of the age group, the figure would be around $1 million. Taking a midpoint of these numbers suggests a rough minimum of $625,000.
The Survey of Consumer Finances is conducted every three years. The next survey is expected to be published in late 2026.
Net worth is calculated as assets, including bank accounts, investment accounts, and real estate, minus debts such as mortgages and credit card balances. A Goldman Sachs survey noted that around 40% of U.S. workers earning over $500,000 report living paycheck to paycheck, indicating that high income does not necessarily equate to financial security or preparedness for events like job loss.
Financial experts often note that while such comparisons can provide a rough benchmark, what ultimately matters is how an individual's net worth aligns with their personal financial goals, which can vary widely.