What’s a Healthy Net Worth at Your Age?

Summary

Ramsey Everyday Millionaires: What’s a Healthy Net Worth at Your Age? Episode Summary | Released June 16, 2025

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Introduction

In the latest episode of Ramsey Everyday Millionaires, hosts from the Ramsey Network—including Dave Ramsey, Ken Coleman, Rachel Cruze, George Kamel, Jade Warshaw, and Dr. John Delony—delve into a topic that resonates deeply with many listeners: understanding a healthy net worth relative to one's age. This comprehensive discussion aims to provide clarity and actionable insights for individuals striving to achieve financial stability and wealth accumulation.

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Understanding Net Worth

The conversation kicks off with George Kamel highlighting the common curiosity among listeners about their financial standing compared to peers.

• George Kamel [00:15]: “People want to know the raw and the real. Am I doing all right? Where should I be for my age?”

To ensure everyone is on the same page, the hosts define net worth:

• George Kamel [01:25]: “Your net worth is your assets minus your liabilities. So everything you own minus everything you owe.”

George emphasizes that net worth is a measure of financial position, not self-worth, ensuring listeners understand that being above or below certain benchmarks doesn’t determine their value as individuals.

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Net Worth by Age Groups

The hosts break down average and median net worth figures across different age brackets, offering a realistic perspective on where individuals stand financially.

1. In Their 20s

   • Average Net Worth: $113,000

   • Median Net Worth: $7,600

   • George Kamel [02:08]: “The median net worth is $7,600. That's more like it. That's more accurate.”

   The stark difference between average and median figures is addressed, revealing that the average is skewed by high-net-worth individuals, while the median provides a more attainable benchmark.

   • George Kamel [03:02]: “A goal to aim for in your 20s... 200 to 250 is like. You get an A plus.”

   Setting ambitious yet achievable goals encourages young adults to strive for financial growth.

2. In Their 30s

   • Average Net Worth: $317,000

   • Median Net Worth: $35,000

   • George Kamel [03:44]: “A big, hairy, audacious goal. 200 to 250 is like. You get an A plus.”

   The discussion highlights the importance of transitioning from paying off debt to investing and saving for the future, leveraging higher incomes typical in this decade.

3. In Their 40s

   • Average Net Worth: $791,000

   • Median Net Worth: $125,000

   • George Kamel [05:02]: “Having a million dollar net worth by age 50... that's a pretty decent net worth.”

   The gap between average and median net worth underscores the disparities in wealth accumulation, stressing the need for continued investment and savings.

4. In Their 50s

   • Average Net Worth: $1.4 million

   • Median Net Worth: $288,000

   • George Kamel [05:15]: “If you're heading into retirement and your net worth... not investing into those retirement accounts.”

   Concerns about approaching retirement with insufficient net worth lead to advice on intensifying saving efforts and ensuring investments are robust.

5. In Their 60s

   • Average Net Worth: $1.7 million

   • Median Net Worth: $439,000

   • George Kamel [06:19]: “A median net worth of $400,000 in your 60s... That tells me you have put everything else in your life first.”

   The conversation highlights the challenges faced by many nearing retirement with modest net worth, advocating for strategic planning to ensure a comfortable retirement.

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Improving Your Net Worth at Any Age

Transitioning from the statistics, the hosts offer practical steps to enhance net worth, applicable across all age groups.

1. Eliminating Liabilities

   • George Kamel [07:03]: “Get rid of your consumer debt which will increase your net worth.”

   Reducing debts directly improves one’s financial standing by lowering liabilities.

2. Investing in a Home

   • George Kamel [07:04]: “A home will appreciate in value over time.”

   While acknowledging that a primary home doesn’t produce income, the hosts emphasize its role in wealth accumulation and forced savings.

3. Investing 15% of Income

   • George Kamel [07:16]: “Aim to invest 15% of your monthly income and the earlier you start, the more compound interest has time to build.”

   Emphasizing the power of compound growth, the hosts encourage consistent investment to maximize financial growth over time.

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The Power of Compound Growth

A significant portion of the discussion is dedicated to understanding and harnessing compound interest.

• George Kamel [07:36]: “Only 10 to 20% is what you put in.”

• Ken Coleman [07:51]: “You could have a million dollars, we're not telling you to try to save a million dollars. We're telling you if you save 200,000 over the next 30 years it will grow to a million.”

  By illustrating how smaller, regular investments can grow exponentially, the hosts demystify the concept of compound interest, making it accessible and motivating for listeners.

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Addressing Emotional Responses to Financial Comparisons

The hosts also tackle the sensitive issue of comparing one’s financial status to others, recognizing the potential for negative emotions.

• Ken Coleman [08:33]: “Be curious, not critical. This is not a time for you to be like so critical on yourself that you feel bad.”

  Encouraging a mindset of curiosity over self-criticism fosters a healthier approach to financial growth, where individuals learn from others’ successes without feeling discouraged.

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Real-Life Success Stories and Encouragement

George shares a personal triumph to inspire listeners:

• George Kamel [09:26]: “I went from negative net worth to millionaire in 10 years.”

  This testament underscores the possibility of significant financial turnaround with dedication and proper strategies.

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Conclusion and Action Steps

The episode wraps up with actionable advice:

• George Kamel [06:47]: “Get the house paid off. Make sure that your investments are strong enough to last you another 20, 30 plus years.”

  By adhering to disciplined financial practices—eliminating debt, investing wisely, and planning for the long term—listeners are empowered to take control of their financial futures.

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Final Thoughts

Ramsey Everyday Millionaires delivers a thorough and insightful examination of what constitutes a healthy net worth at various life stages. By blending statistical analysis with practical advice and motivational anecdotes, the hosts provide listeners with both the knowledge and the inspiration needed to embark on or continue their journey toward financial prosperity.

For those seeking personalized investment advice, the episode concludes with a prompt to connect with a SmartVestor professional through Ramsey Solutions, ensuring that listeners have the resources to take their financial planning to the next level.

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Notable Quotes with Timestamps

• George Kamel [00:31]: “Your net worth is your assets minus your liabilities. So everything you own minus everything you owe.”

• George Kamel [02:08]: “The median net worth is $7,600. That's more like it. That's more accurate.”

• George Kamel [03:02]: “A goal to aim for in your 20s... 200 to 250 is like. You get an A plus.”

• George Kamel [07:36]: “Only 10 to 20% is what you put in.”

• Ken Coleman [08:33]: “Be curious, not critical. This is not a time for you to be like so critical on yourself that you feel bad.”

• George Kamel [09:26]: “I went from negative net worth to millionaire in 10 years.”

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Connect with Ramsey Everyday Millionaires

For more insights and personalized financial guidance, visit RamseySolutions.com or connect with a SmartVestor professional through their platform.

Transcript

[A]

Foreign this episode is brought to you by SmartVestor. Connect with an investing pro near you at RamseySolutions.com SmartVestor all right, George, it's.

[B]

Time to chop it up a little bit.

[A]

Let's do this.

[B]

People want to know. They want to know the raw and the real. Am I doing all right? Where do. Where should I be for my age? Is what people want to know. Like, am I doing okay financially? They need to speak. Yeah. How are other people my age doing? Where do I fall in line?

[A]

And I make these videos for my YouTube channel, the George Camel YouTube channel, and they're the top videos. People want to know, what is the average net worth by age? That's a big one. So I thought we can cover the high level here so that people listening can just figure out where they stand.

[B]

We want to compare ourselves.

[A]

Yes. And let's make it clear your net worth is not your self worth. If you are below this, you're above this. You're not worse or better than anyone. Okay. You're still a fallen human being and we still love you. But it's good to just go, where is it? How we do in America? That's what we're going to call this segment.

[B]

How we doing, America? How you doing?

[A]

And it's going to get dark real quick, as you'll see. So net worth by age, we're going to start for the folks in their 20s.

[B]

Okay.

[A]

The average net worth, $113,000, which is impressive.

[B]

Well, can wait. Can I roll it back before we do this? Let me roll it back. Can you explain net worth? Explain net worth first. So these folks know what we're.

[A]

Your net worth is your assets minus your liabilities. So everything you own minus everything you owe.

[B]

And that's cars, homes, all of it.

[A]

So for someone in their twenties to have an average net worth of 113 grand is impressive. Yeah, it is, because we're talking and that means you have probably paid off your debt, you've got equity in a home. Now we got to talk about average versus median. This is where it's important. Please. Average is skewed because you have the crazy high highs and crazy low lows. So this average number is skewed by people who are crazy high. Maybe some trust fund babies. Now we're gonna move to the median. So we go from 113 grand to the median net worth for folks in their 20s. $7,600. That's more like it. That's more accurate.

[B]

That feels right. Because this is like I, I maybe Avoided debt, or I was. Had time to pay whatever debt I had off. And now I just have my. My old car and I just started contributing to a 4.

[A]

Median is a more accurate measure because it's simply the number in the middle of the list, from the smallest to the biggest number. So that's the number two. If you're going to try to use the measuring stick, that's sort of the suck bar.

[B]

Yeah. Median.

[A]

I would say the average net worth. That's more like. Okay, that's a healthier number to look at, but the median net worth, just go from above. That I'm doing. Okay. So a goal to aim for.

[B]

You said the suck bar.

[A]

That's what we call it.

[B]

Okay.

[A]

Let's be honest. 7,600 bucks.

[B]

I'm with you. I'm with you.

[A]

I mean, we can do better than that. As you exit your 20s.

[B]

I thought there would be some negatives on here. I'm surprised I didn't see any, like, minus signs.

[A]

Well, that's the truth. When you think about the median being 7,600, it's not that far from being in the negative.

[B]

Yeah.

[A]

So a goal to aim for in your 20s. I'm just going to throw out kind of a B hag. A big, hairy, audacious goal. 200 to 250 is like. You get an A plus.

[B]

Wow.

[A]

From George. For long term.

[B]

Well, that is a. That is an A plus.

[A]

So good goals in your 20s. Get out of that consumer debt. And if you can get into a home, great. But usually that's going to happen for people as they enter their 30s. In today's world, with how expensive homes are.

[B]

George, I'm concerned with where this is going. I'm afraid people are going to be in a deep, dark pit.

[A]

I know, I know. I'm here to just. I'm just keep going. I didn't come up with this research. This is just reality.

[B]

Just smile when you say it.

[A]

Yeah. In your 30s, average net worth, 317 grand. Media net worth, 35 grand.

[B]

Got you.

[A]

Okay, so that's 30 to 39. I think that's good. You know, life's picking up speed. You probably have maybe some. You're married, kids, a mortgage by this point, and you're 30 to 39. But your income is usually higher.

[B]

True.

[A]

And so you're saving and investing should become priorities. And if you still have lingering debt, you got to get serious because you still have compound growth on your side when you're this young.

[B]

That's true.

[A]

You got another 30 plus. Years of working career to invest.

[B]

And that's the hope.

[A]

Take advantage of that. So an A plus goal for, from my book, 4 to 500 grand by the time you exit your 30s. That's a pretty decent net worth. Think about that.

[B]

Yes, it is.

[A]

You know, you've been Investing in your 401k for a period of time. You've got some home equity now. You paid off the debt. This is if you're following the baby.

[B]

Steps to a t. And you're 39, not 30.

[A]

Exactly. There you go. Now in your 40s, average net worth, 791 grand.

[B]

Okay, okay, okay.

[A]

Median net worth 125 grand.

[B]

Got you.

[A]

So this is an interesting one. That's a big gap we found in our millionaire study where we studied 10,000 millionaires. The average age was 49 years old. So this isn't far off the average net worth, 791 in your 40s. So to have a million dollar net worth by age 50, I think personally that's a good goal to reach for because that tells me you're right there in that millionaire study data. Now in your 50s is climbs up to average net worth of 1.4 million and a median net worth of 288. So 288, 000 is the median there.

[B]

Okay.

[A]

Which again, that scares me because if you're heading into retirement and your net worth, entirety, home equity investments, everything is a quarter million. We got some catching up to do.

[B]

You gotta catch up. Yes, you can, but you just don't have. You won't have as much money as you would have had. But you could still have enough.

[A]

You can still retire with dignity. But you're gonna have to work longer than you want to.

[B]

Yes, that's right.

[A]

You're not l Comfy retirement life.

[B]

You're correct.

[A]

So target net worth in my book by your 50s. If you had a million by 40s, I would say let's start climbing up closer to 2. So 1.75.

[B]

Yeah.

[A]

To 2 million. Total net worth, not just investments, but everything. Home equity investments, cars, all that. By the time you're 59, I would say you're gonna do just fine. And then finally we get to the 60s. Average net worth 1.7 million. Median net worth 439,000. And this is where people are hoping to retire, to be able to. Now they might work because they want to. Yeah, but I don't want you to have to work because you have to. That's a very different place to be. And so media net worth of 400 grand scares me. In your 60s.

[B]

100%. Yeah. In today's world, yes.

[A]

That tells me you have put everything else in your life first and you've not put on your own mask or.

[B]

You thought Social Security was going to get you.

[A]

That's a scary one. Or even signing up for parent plus loans and trying to pay off your kids debts, your own debts. Keeping up a lifestyle you couldn't afford, not investing into those retirement accounts. And so a good action step in your 60s as you head into retirement, get the house paid off. Make sure that your investments are strong enough to last you another 20, 30 plus years.

[B]

Yeah.

[A]

And so how do you improve your net worth at any age? It's simple if your net worth is assets minus liabilities. Let's get rid of the liabilities column. Get rid of your consumer debt which will increase your net worth. Next, get into a home when you can financially afford it, when in the right time.

[B]

Forced savings.

[A]

Yes, that's a forced savings plan. The home will appreciate in value over time. And we found that 68% of millionaires have a paid for house and that's a wealth building machine as part of your net worth.

[B]

It really is.

[A]

And then your primary home doesn't produce income and so you need income outside of that and that's where the investments come into play. So aim to invest 15% of your monthly income and if the earlier you start, the more compound interest has time to build. And here's what we found in the retirement accounts. 80 to 90% is all contra is all growth.

[B]

Yeah, that's right.

[A]

Only 10 to 20% is what you put in.

[B]

That's right.

[A]

So when we say well Jade, you could have a million dollars, we're not telling you to try to save a million dollars. We're telling you if you save 200,000 over the next 30 years it will grow to a million. People don't understand growth. The power of compound growth.

[B]

Yeah, which is why you really did say it like in your 30s there's, if you're in your 30s now, there's so much time to take advantage of this. Like now is not the time to like kick the can down the road, really get serious. Because that time is really going to be your best friend when it comes to compound growth. And let me just, let me talk to the people because some people heard this, they're deflated. Yeah man, they're balloon sad sack right now. And because it does, you're like man, why, why did you have to compare me to the, these other folks who are doing so much. But oh, a word, George, on comparison. Because I do think that there's like comparison in a bad way and I think there's comparison in a good way. And the way that I like to think of it, George, is be curious, not critical. Right? Like, this is not a time for you to be like so critical on yourself that you feel bad. But be very curious about how these people that George is talking about have achieved this. And so it really is about, instead of being like, well, it must be nice, you know that, I mean, that is how we all.

[A]

That explains most of the comments section on the Internet.

[B]

Yeah. Let's be, let's be curious, let's be inquisitive and let's ask the right questions. Because the truth is, if they did it, you can do it. It's just, how did they do it? We're probably going about it the wrong way. So for me, when I saw like I'm in my 20s and 30s with a negative net worth because at least none of these are negative, I'm like, okay, let me look at someone who's doing this and ask the right questions into Ramsey Solutions. How do I pay off my debt? How do I get in a position where I can build a thousand dollars of savings? How do I become a person who makes good habits and follows their bud? How did you build that business? How did you, you know what I'm saying? So start looking at the people in your life who might be hitting the arrows on some of these medians and average net worths and start asking them the right questions. And listening to the show and folks like George Camel is a great place to start.

[A]

Yeah, I went from negative net worth to millionaire in 10 years. So don't underestimate how much you can accomplish over a long period of time. Thanks for tuning in to Ramsey. Everyday millionaires need help with your investments? Connect with a smartvestor [e-mail] smartvestor or click the link in the show notes. Ramsey Solutions is a paid non client promoter of participating pros. Learn [e-mail] SmartVestor.