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Report finds the average American in their 50s has a net worth of $1.1 million

Happy, older couple laughing while counting money
Happy, older couple laughing while counting money
Getty Images/LightFieldStudios

We know with inflation and the rising costs of just life right now, a lot of folks are worried about their finances.

But fear not, as a new report found that the average American in their 50s should have little worry about their bank account, because they should have a net worth of at least $1.1 million!


Phew.  What a relief it is having all that money.

Unfortunately, these figures are skewed by the ultra-rich; of course, the average American doesn't have a million dollars just laying around collecting dust.

In fact, according to USA TODAY, the study found that Americans would feel  "financially independent" if they made $94,000 a year.