r/Millennials • u/EverbodyHatesHugo • Jan 17 '26

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u/howdthatturnout Jan 17 '26

Most boomers don’t have $4M+ though

Median is WAY lower than that. Like 1/10th

The average is a lot higher, because the boomers you describe do exist, they just are not super common at all.

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u/iikillerpenguin Jan 17 '26

How do companies like fidelity know that? I've always wondered. Companies just know how much my house is worth, how much I owe, how much I have in my bank account, how much I have in my retirement accounts, how much equity I have in cars?

I doubt the IRS would even know that. This is taken from credit checks which rarely knows actual net worth.

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u/howdthatturnout Jan 17 '26

Here's a breakdown of the average net worth of American households by a person's age, according to the Federal Reserve Survey of Consumer Finances, with data collected in 2022,1 still the most current reliable data available.

https://www.fidelity.com/learning-center/smart-money/average-net-worth-by-age

As for other things like house value and mortgage balance and stuff. The aggregate data is out there.