Average net worth in the UK by age — how does your wealth compare?

Though hearing the term ‘net worth’ might drum up images of centibillionaires like Elon Musk or wealthy singers like Taylor Swift, everyone in the world has a net worth — not just the ultra rich.

The median net worth of an individual in Great Britain is £124,700 when taking the average of all age groups into account, according to the latest available data from the Office for National Statistics (collected between 2018 and 2020 and published in 2022).

If you calculate the mean average instead, this figure climbs to £304,800, as this is skewed by those who earn much more and much less than the average.

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Average net worth by age

When looking at net worth, it is useful to not just look at the total average, but instead examine the data divided by age groups.

The net worth of an individual tends to grow as they get older because you tend to get paid more the older you are. Plus, over time, you will likely accumulate more assets (like homes), and see returns on investments compound. Your net worth also includes your savings, which tend to increase with age.

The size of your pension pot is also taken into account when looking at net worth, and those who are older will typically have more in their pension savings than younger generations.

Data from the ONS shows the average net worth in Great Britain peaks for people between the ages of 60 and 64. Those in this age group have a median net worth of £380,100.

When using the mean measurements, the age at which net worth peaks moves up to 65 to 69 at £597,200.

Above this age group, the average net worth starts declining as many enter retirement and start drawing an income from their pension wealth.

The table below shows how net worth changes by age. Note the latest data covers survey findings between 2018 and 2020.

Source: Office for National Statistics, Distribution of individual total wealth by characteristic in Great Britain: April 2018 to March 2020 (7 January 2022)

Average household net worth by region

There is a large disparity in the average net worth of individuals across the different regions of Britain according to the ONS’ Wealth and Assets survey.

The largest of these disparities can be seen between the median individual net worth of those in the South East (£235,900) and those in the North East (£78,800).

Below is a table showing the median household wealth of different regions of Great Britain:

Source: Office for National Statistics, Distribution of individual total wealth by characteristic in Great Britain: April 2018 to March 2020 (7 January 2022)

London is the region with the second-lowest median net worth in Great Britain. This is likely because, although there are many in the capital who earn incredibly high salaries, there are also many who earn little but have higher living costs than those in other regions.

How do you calculate net worth?

Net worth is calculated by subtracting your liabilities (debts) from your assets.

Assets include economic resources that you own that have a cash value. This can include property wealth, financial assets, pension pots, and physical assets such as cars, artworks, or antiques.

Liabilities include any money that you owe to another person, company, or institution. These can be loans, mortgages, taxes, or your credit card balance.

Imagine you have savings of £10,000, a pension pot of £100,000, and a home worth £500,000, but you still owe £250,000 on the mortgage.

Your net worth would then be £360,000 as your total liabilities (£250,000) are subtracted from your total assets (£610,000).

Average net worth in the US: how does the UK compare?

According to MoneyWeek’s sister site Kiplinger, the average net worth across the pond is $1,063,700 (roughly equivalent to £795,600 in July 2026) when taking into account all ages, according to data from the Federal Reserve published in 2022.

This figure is, like in the UK, heavily skewed by the extreme wealth held by top earners in the country.

For a more representative understanding of the average net worth in the United States, it is best to use the median net worth, which stands at $192,900 (£144,200) when averaging across all ages.

This is higher than the UK’s median of £124,700, but the cost of living in the US tends to be higher than in Britain.

Like in the UK, there is also a large disparity between average net worth when looking at different age groups in the US.

In the US, the median net worth of those under 35 is $39,000, while it swells to $335,600 for those 75 or older - this is, in part, due to pension pots and assets growing over time. Below is a table showing the average and median net worth in the US according to age groups:

Source: Federal Reserve Survey of Consumer Finances (2022)