Misleading USA Today Report on Average Net Worth at age 50

[sdawson]

I'd classify this type of reporting as misleading and best and fear generating at worst.

The headline is : The average 50-something American is now worth $1.4 million

The average is the misleading part, as many, many folks do not understand the difference between average and median.

The average 50-something American is now worth $1.4 million

The older you are, the higher your net worth: That's what the data tells us. Financial experts cite three big reasons. One of them is time.

www.usatoday.com

The report referenced is here:

The average net worth by age in America

Have you ever wondered how you stack up against other people financially? Here's the average net worth by age.

www.empower.com

Which reports both the average and median by various ages. The net worth reported at age 50 is:

Age by decade	Average net worth	Median net worth
50s	$1,369,809	$192,964

All the billionaries, the uneven distribution of wealth, makes average a meaningless number.

For someone saving for retirement, trying to save money, and who does not have a million by the time they are 50, this type of reporting can cause them to just give up.

Then there is the conflating of 'net worth' with investable assets. Given the rise of house values, that median net worth does litttle to inform on retirement savings and planning.

But the headline sure is shocking to fly by readers.

 

[Lorenzo]

For someone saving for retirement, trying to save money, and who does not have a million by the time they are 50, this type of reporting can cause them to just give up.

To those people, I would say two things: buy and hold index funds, and don't read clickbait financial articles.

 

[TripleLindy]

Average, median, or any other statistic is irrelevant to any individual’s retirement. It only comes down to each individual’s ability to live on the income they receive in retirement. For some, SS alone does the trick. Others “need” more.

 

[Stormy Kromer]

When I took Charlie Munger's advice to never compare, or envy....I became much happier.

These days I don't worry about the whole pie, just my slice.

 

[fognostic]

"The numbers below reflect Empower Personal DashboardTM users as of October 2025, with the average and median net worth of these individuals, broken down by age.* (These figures are not identical to, nor directly comparable with, representative national data from the Survey of Consumer Finances from the Fed.)"

 

[Texas Proud]

Heck, with avg.... Musk by himself puts you at about $1,000...

 

[Chuckanut]

Averages are a great way to lie with statistics.

Four truck drivers are in a bar drinking beer. Their average net worth is $50,000. Taylor Swift walks in and joins them. Their average net worth is now $200,000,000.

The additional wealth is good, since they end up paying for Taylor’s beer because rich people don’t carry around much cash.

 

[Delawaredave5]

What a shame. Garbage reporting.

 

[Montecfo]

Expecting insight and accuracy from USA Today is a heavy lift.

 

[FREE866]

It's like many headlines today. All across the spectrum of "news" media. Misleading. Meant to get clicks and likes etc. Journalism is all but dead.

 

[JohnnyPHX]

Averages are a great way to lie with statistics.

Four truck drivers are in a bar drinking beer. Their average net worth is $50,000. Taylor Swift walks in and joins them. Their average net worth is now $200,000,000.

And they end up paying for Taylor’s beer because rich people don’t carry around much cash.

When does Taylor Swift have time to drive a truck?

 

[TheWizard]

Averages are a great way to lie with statistics.

Four truck drivers are in a bar drinking beer. Their average net worth is $50,000. Taylor Swift walks in and joins them. Their average net worth is now $200,000,000.

And they end up paying for Taylor’s beer because rich people don’t carry around much cash.

A lot of rich ppl I know just tap with their smartphone to pay...

 

[COcheesehead]

When I took Charlie Munger's advice to never compare, or envy....I became much happier.

These days I don't worry about the whole pie, just my slice.

Comparison is the thief of joy.

 

[Chuckanut]

When does Taylor Swift have time to drive a truck?

She just walked in and joined them. Maybe she was thirsty.

 

[Stormy Kromer]

I help out a good friend at his small business in his office. He owns an Auto Body Shop. Sole proprietor. I do his bookwork for mental excercise.

Just this morning we visited for over an hour before either one of us worked. He is a veteran, a tour in Afganistan and another in Iraq. He told me that the poorest person in the United States is better off than anyone he encountered in the countries he fought in.

I wasn't there, but I believe him.

Google Charlie Munger on why people today are unhappy. He'll tell you that today's poor people's biggest problem is that they are too fat.

I don't care where I stack up in anyone's average poll. I have it made and want to help others eat and have a family.

 

[reneeh63]

Averages are a great way to lie with statistics.

Four truck drivers are in a bar drinking beer. Their average net worth is $50,000. Taylor Swift walks in and joins them. Their average net worth is now $200,000,000.

The additional wealth is good, since they end up paying for Taylor’s beer because rich people don’t carry around much cash.

Statistics don't lie - people lie WITH statistics by not giving proper context.

 

[Sorcerer]

USA Today with misleading info. Would have never guessed.

 

[brett]

I only care about my net worth. But not a lot. More interested our respective portfolio balances/performance, and our cash flows.

Nor do I care about comparing it to anyone else's. Mean or medium, average...whatever. Or comparing any other so called personal financial stat to the population for that reason.

Seems rather pointless to me. I suspect this is just inexpensive filler kept on hand for a white spot in the format that day.

 

[jazz4cash]

I thought they did a decent job distinguishing between average and median. It seems the bulk of Americans are significantly challenged with everyday ordinary math so even basic statistics probably goes over their head if they actually bother to read past the 1st paragraph.

 

[Fermion]

Average, median, or any other statistic is irrelevant to any individual’s retirement. It only comes down to each individual’s ability to live on the income they receive in retirement. For some, SS alone does the trick. Others “need” more.

It isn't totally irrelevant. Some things such as property taxes and healthcare are based on the net worth of those around you, not just yours. I know to qualify for the senior discounted property tax in our area your income has to be below a certain figure, and we all know about ACA MAGI, So yeah, numbers matter.

 

[audreyh1]

A lot of rich ppl I know just tap with their smartphone to pay...

That’s true now, ha ha, no excuses. Of course it must have been a cash only bar.

 

[TheWizard]

That’s true now, ha ha, no excuses. Of course it must have been a cash only bar.

Cash only...I actually go to one of those dive bars a few times a year before a Red Sox game...

The Tam | Irish Bar in Boston, MA

No-nonsense, cash-only watering hole for boozing & socializing in the Theater District.

www.thetamboston.com

 

[HarveyS]

Misleading USA Today Report​

Tell me something I don't already know.

 

[Onda]

The average is the misleading part, as many, many folks do not understand the difference between average and median.

And that’s why the median stays low — basic statistical literacy is apparently too much to ask.

 

[mrfeh]

Statistics don't lie - people lie WITH statistics by not giving proper context.

+1

The numbers aren't wrong. If a large percentage of society don't know what average means, it just indicates how ignorant people are.