Report: Age, Income, & Net Worth Statistics (2012). Ever wonder how your income compares to others or how your net worth compares based on percentile of net worth, head of household age, source of household income, family structure, education or race/ethnicity? As we await the new report – the Federal Reserve only releases this report every three years – now is a good time to see just how you stack up according to the most recent data.
As I have noted previously, while you do not want to get trapped in the game of keeping up with the Joneses (and likely accruing unsustainable debt) or basing your self-worth on a comparison of your net worth, knowing how others are doing financially – particularly within the context of similar income, age, etc. – can offer some insight into how your retirement plan is progressing.
Source: Federal Reserve’s Survey of Consumer Finance