"Comparing Net Worth: 50-Something Millionaires vs. Other Age Groups"

Household wealth in the US has surged during the pandemic, with the average net worth of households over 50 now exceeding $1 million, driven by increased home values and 401(K) growth. However, there is a significant gap between average and median wealth, highlighting disparities within different age groups. While wealth tends to peak for households in their 60s, it starts to decline in their 70s as retirement savings are drawn down. Compound interest plays a significant role in driving wealth for those in their 50s, while households in their 20s and 30s struggle with debt and lower net worth.