By 2024, the average American’s net worth was $620,654, according to a recent report on global wealth by UBS. (1) But if that number is shockingly high and disconnected from your life experience, there’s a reason for that.
The average is calculated by taking the total amount and dividing it by the number of individuals in the dataset. However, this metric is easily distorted by some individuals who are complete outliers.
For example, if you (with the average American net worth) and Elon Musk get into an elevator together, the average net worth in that elevator—at least, at the time of this writing—is about $224 billion. (2)
Your personal net worth may not be anywhere close to that, but the fact that there are only two people in this scenario means the figure is on the up side — and you know few people within your circle of friends or family who have a net worth of $620,654, the report says.
With that in mind, UBS also tracked another measure that may be closer to reality for everyday Americans: average wealth.
Unlike averages, median counts are not distorted by a few outliers. Instead of taking a country’s total wealth and dividing it by the country’s total population, the average wealth is calculated by arranging all adults in ascending or descending order of net worth and choosing the person in the middle for better representation.
In other words, if you have average wealth, then exactly 50% of the country has less than you and 50% has more than you.
According to UBS, by 2024, the average net worth in the US is only $124,041. That’s an astonishing five times less than the average net worth of $620,654.
In fact, by this measure, the US 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 based on average wealth.
This large gap between mean and median wealth is a reflection of America’s extraordinarily high wealth inequality.
By the end of 2024, according to the Federal Reserve Bank of St. Louis, more than two-thirds (67%) of all household wealth nationwide was held by the top 10% of households alone. (3) Meanwhile, the bottom 50% of households own only 2.5% of total wealth.
Simply put, you have every right to brag about sharing the same country with Elon Musk and Jeff Bezos, but their success has not affected you and your family.
However, by using the same investment techniques of the uber rich, you can accumulate more than most Americans.
Read more: Vanguard reveals what could be coming for US stocks, and it’s ringing alarm bells for retirees. Here’s why and how to protect yourself
If you’re looking to accumulate more money than the average wealth per adult in the U.S., you should focus on saving more than the average American and investing in strong assets.
As of August 2025, the personal savings rate was just 4.6%, according to the Federal Reserve. (4) Saving 10% or 15% of your income will enable you to outperform many of your peers.
The next step is to invest this excess savings in the same assets that make up the bulk of the wealthiest people’s portfolios. For example, a large part of Mark Zuckerberg’s net worth is derived from his shares in his company Meta Platform. His wealth expands as the company grows.
Similarly, investing in low-cost index funds gives you exposure not only to Meta, but also to 499 other companies that are mostly developing and innovating in the country. The S&P 500 has returned 12.35% annually over the past 10 years, according to Morningstar. (5)
Invest just $575 per month in this index and you’ll reach the $124,041 threshold for average wealth in about 10-and-a-half years, assuming the same growth rate.
Over the long term, a consistent savings and investment strategy can enable you to add other assets to your portfolio, such as real estate. Getting on the property ladder can unlock more wealth building opportunities.
According to the Aspen Institute, there is already a significant wealth gap between renters and homeowners. The average renter’s household net worth is just $10,400 compared to nearly $400,000 for homeowners. (6)
While solving the nation’s wealth gap is beyond any one person, you can still improve your odds of outperforming your peers and achieving long-term financial stability on a personal level.
We rely only on vetted sources and reliable third-party reporting. For details, see our editorial ethics and 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. It is provided without warranty of any kind.
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