As of 2024, the average American had a net worth of $620,654, according to a recent UBS Global Wealth Report. (1) But if that number sounds surprisingly high and disconnected from your lived experience, there’s a reason for that.
Means are calculated by taking a total amount and dividing it by the number of individuals in a data set. However, this measurement is slightly skewed by a few individuals who are completely outliers.
For example, if you (with the average American net worth) and Elon Musk get into an elevator together, the average net worth of that elevator—at least, at the time of this writing—is about $224 billion. (2)
Your personal net worth may not be anywhere near that, but the fact that there are only two people in this scenario means the number is skewed upward — and you may know few people in your circle of friends or family who have a total net worth of $620,654, despite what the report says.
With that in mind, UBS also looked at another measure that might be closer to reality for average Americans: average wealth.
Unlike means, median calculations are not skewed by a few outliers. Instead of taking the total wealth in a country and dividing it by the country’s total population, median wealth is calculated by arranging all adults in ascending or descending order of net worth and choosing the person exactly in the middle for a fairer representation.
In other words, if you have a median wealth, then precisely 50% of the country has less than you and 50% has more than you.
As of 2024, the average net worth in America is just $124,041, according to UBS. That’s a staggering five times less than the median net worth of $620,654.
In fact, by this measure, America is only the 15th richest country in the world, behind Australia, Canada, New Zealand and Italy. By comparison, the US is the second richest country by average wealth.
This huge gap between mean and median wealth is a reflection of America’s exceptionally high wealth inequality.
At the end of 2024, more than two-thirds (67%) of total household wealth nationwide was held by just the top 10% of households, according to the Federal Reserve Bank of St. Louis. (3) Meanwhile, the bottom 50% of households own only 2.5% of total wealth.
Simply put, you have bragging rights that you share the same country as Elon Musk and Jeff Bezos, but their success hasn’t trickled down to you and your family.
However, by using some of the same investment techniques of the uber-rich, you could accumulate more than most Americans.
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If you want to accumulate more money than the average amount of wealth per adult in America, you should focus on saving more than the average American and investing in solid assets.
In August 2025, the personal savings rate was just 4.6%, according to the Federal Reserve. (4) Saving 10% or 15% of your income would allow you to outperform many of your peers.
The next step is to invest these excess savings in the same assets that make up the bulk of the wealthiest people’s portfolios. For example, the vast majority of Mark Zuckerberg’s net worth is derived from his stake in his company, Meta Platforms. His wealth expands as the company continues to grow.
Similarly, investing in a low-cost index fund gives you exposure not just to Meta, but to 499 other companies that drive much of the nation’s growth and innovation. The S&P 500 has delivered an annualized return of 12.35% over the past 10 years, according to Morningstar. (5)
Investing just $575 a month in this index and assuming a similar growth rate would put you over the $124,041 threshold for average wealth in about 10 1/2 years.
Over the long term, a consistent savings and investment strategy can also allow you to add other assets to your portfolio, such as real estate. Getting on the property ladder could unlock more wealth building opportunities.
According to the Aspen Institute, there is already a significant wealth gap between renters and homeowners. The median net worth of a renter’s household is just $10,400, compared to nearly $400,000 for homeowners. (6)
While solving the nation’s wealth gap is beyond anyone, you can still improve your chances of outperforming your peers and achieving long-term financial stability on a personal level.
We only rely on verified sources and credible third-party reports. For details, see our ethics and editorial guidelines.
UBS Global Wealth Management (1); Bloomberg (2); Federal Reserve Bank of St. Louis (3); Federal Reserve Bank of St. Louis (4); Morningstar (5); Aspen Institute (6).
This article provides information only and should not be construed as advice. Offered without warranty of any kind.
