You rank by working out your own net worth, then comparing it with survey data for people like you. Where does my networth rank depends heavily on your age, because a 25-year-old and a 60-year-old are not on the same track.
Here is a step-by-step way to do it without fooling yourself.
Step 1: Work out your number
Net worth is simple arithmetic. Add up what you own, then subtract what you owe.
Things you own
- Cash and savings
- Retirement accounts, such as a 401(k) or IRA
- Investments
- The value of your home, using a realistic estimate
- Vehicles, at what they would sell for, not what you paid
- Business interests, if any
Things you owe
- Mortgage and other loans
- Car loans
- Student loans
- Credit card balances
- Any other debts
Subtract the second list from the first. A negative result is common for younger people with student debt, and it is not a failure, just a starting line.
Step 2: Find out where does my networth rank in the data
The most trusted source for US households is the Federal Reserve’s Survey of Consumer Finances, which is run every three years. You can find the data and summary tables on the Federal Reserve’s SCF page. In the 2022 survey, the median US household net worth was reported at roughly $192,900, while the mean, which is pulled up by very wealthy households, was about $1.06 million. That gap alone shows why the average is a poor yardstick.
The survey breaks results down by age group, income, education and more. Pick the age bracket that matches you.
Step 3: Use the median, not the mean
The median is the middle value: half of households are above it and half below. The mean is skewed upward by a small number of very rich households. For ranking yourself, the median and the percentile tables are much more honest.
Step 4: Be careful about what you compare
1. Household versus individual. Survey figures are for households. If you are single, compare with single households if the tables allow.
2. Home equity. Much of middle-class net worth sits in the home. Someone who rents may have a lower number but be saving just as hard.
3. Retirement balances. They count, but you cannot spend them freely, so they feel different.
4. Date. Asset prices move. A comparison with 2022 data may look different today.
What a ranking can and cannot tell you
A percentile tells you where you stand among others. It does not tell you whether you are on track for your own goals. Someone in the 40th percentile who is debt-free and saving 20 percent of income may be better placed than someone in the 60th who is stretched on payments.
Common mistakes
- Counting a home at a hopeful price.
- Forgetting small debts.
- Comparing yourself with online screenshots of wealth, which are not representative.
- Treating the number as permanent. Net worth changes every month.
How to improve the ranking, safely
There are no tricks here, just general habits:
- Pay down high-interest debt.
- Build an emergency fund.
- Contribute regularly to retirement accounts, especially if an employer matches.
- Avoid products that promise guaranteed outsized returns. The US Investor.gov site has plenty of plain guidance on spotting those.
Tracking it over time
Calculate it once, then repeat every quarter or twice a year. A simple spreadsheet is enough. Watching the trend matters more than any single reading, and it gives you a quiet sense of progress even when markets wobble.
A final reality check
If you find that your rank is lower than you hoped, remember that median households are not wealthy by internet standards, and many people build most of their net worth later in life, as home equity and retirement savings compound. If your rank is higher, note how much of it is tied up in a house or in accounts you cannot touch yet.
So the answer to where does my networth rank is something you can work out in about twenty minutes with a notepad and the Fed’s tables. This article is general information, not financial advice.
Quick worked example
Say you have $15,000 in savings, $40,000 in a retirement account, a car worth $9,000 and a home you could sell for $300,000. That is $364,000 in assets. You owe $220,000 on the mortgage, $8,000 on the car and $6,000 on a credit card, which is $234,000. Your net worth is $130,000. Now look at the Fed’s table for your age bracket and see whether that sits above or below the median for your group. The numbers here are made up purely to show the arithmetic.
Related reading: What Is High Networth Individual Status? A Plain Answer.
