You may think the term "net worth" only applies to celebrities and CEOs, but it's something we all have — and we all should know it. Here's a breakdown of both median and average American net worth by age, according to the Federal Reserve's Survey of Consumer Finances published in October 2023. Knowing your net worth can help you assess whether your next financial move is a good one. Empower (formerly Personal Capital) and Mint are two platforms that make tracking your net worth easy. Empower has its own net worth calculator and Mint has a net worth-specific dashboard that calls out your progress each month.

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Organizations: Federal Reserve's Survey, Consumer, Federal Reserve Survey, Consumer Finances, Google, Android, CNBC, CNBC Select's, Facebook, Twitter Locations: U.S