Real estate investor and prominent YouTube personal finance influencer Graham Stephan recently took to the video platform to discuss both net worth and income statistics pertaining to Americans of a wide range of age cohorts.
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So, what’s the average income for Americans in their 20s, 30s, 40s, 50s and 60s? Let’s take a look.
Average Income for Americans in Their 20s
Interestingly enough, while Stephan kicked things off with an extensive financial portrait of younger Americans — including a median net worth of $7,638, given limited earning potential and the burden of student loans — the YouTuber didn’t delve into income figures.
Stephan did provide his source, however, in DQYDJ. For 2023, the most recent dataset available, a 20-year-old in the U.S. was listed as having an average salary of $28,768, while a 29-year-old takes home $66,843 on a yearly basis.
And, according to the Bureau of Labor Statistics, those aged 20 to 24 bring in a median (not average) of $40,664 annually, while those aged 25 to 34 earn a median of $59,228, providing a more rounded fiscal portrait.
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Average Income for Americans in Their 30s
Stephan dug a little deeper for those thirty-somethings kicking off their careers, with substantial wage growth being in evidence across this demographic.
According to Stephan, the average 35-year-old American is earning $81,616 per year.
BLS numbers (again, notably, measuring a median rather than the average) came in much lower, however, at $59,228 annually for those between the ages of 25 and 34, and $70,252 for those aged 35 to 44.
Average Income for Americans in Their 40s, 50s and 60s
Regarding those entering middle age, Stephan noted that for Americans in their 40s, the median income came in at ~$60,000 while the average rested at a more specific $84,526.
This presents a logical case, given that this is the life stage in which most workers achieve their highest earnings and have ideally had time to cultivate an established, well-paying career.
Finally, for Americans in their 50s, the YouTuber detailed an average income of approximately $70,000 a year — and for those in their 60s, hopefully eyeing retirement, that number declines to ~$66,000, with a median income slightly lower, pegged at just over $60,000.
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This article originally appeared on GOBankingRates.com: Here’s the Average Income by Age, According to Finance Guru Graham Stephan
