OffbeatThis chart shows how much Americans make at every age — how do you compare?

10:55  07 december  2018
10:55  07 december  2018 Source:   marketwatch.com

Map shows Americans' earnings in every part of the US

Map shows Americans' earnings in every part of the US The U.S. Census Bureau released its 2013-2017 American Community Survey five-year estimates, revealing how much money Americans earn in every U.S. county. The survey includes a range of data for all 3,142 counties in the country, including statistics on economic, housing and social trends. Overall, Americans' earnings are up, the survey reports. Compared to the previous five-year period (2008 through 2012), median household income increased in 16.6 percent of locations, while poverty rates dropped in 14 percent of places. Incomes declined in only 7.1 percent of counties.

Here's how much Americans make each year based on age and gender 11:30 AM ET Thu, 24 Aug 2017 | 01:00. How does your salary compare ? Below, check out the median earnings for Americans at every age bracket, according to data from Here's how much men earn at every age

See How You Stack Up. Young workers make far less than others — just ,000 for those between the ages of 20 and 24. But as their skills improve, they can usually count on steep raises, with salaries increasing roughly 80% during their first two decades in the workforce, the BLS data show .

This chart shows how much Americans make at every age — how do you compare?© stocknroll/Getty Images

Are you between the ages of 30 and 35? You really are making the most rapid salary gains in your career, if you’re like most Americans.

The business and investing website Visual Capitalist created a chart to show Americans’ income at every age between 20 and 65, based on data from the Integrated Public Use Microdata Series, a population-level database.

This chart shows how much Americans make at every age — how do you compare?© Courtesy of Visual Capitalist

What Visual Capitalist found: The run-up to age 40 is most important, whether you are in the 99th percentile of wealthiest Americans, or you make the median income in the U.S.

After that, salary gains are much smaller. For example, the median salary for an American at age 40 is $45,000, according to the chart.

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See if you are saving as much as other people your age . That’s why the different responses by age group in a recent survey from GOBankingRates are especially interesting. The survey polled over 5,000 Americans about their saving habits and how much they had socked away in a savings account.

See How You Stack Up. Money 9/7/2018 Elizabeth O'Brien. But let’s be real: There’s always a financial need that’s more pressing, whether that’s paying down student debt, repairing your car, or paying off a How Many Americans Have A 401k? What's The Average Balance? CBS Minnesota.

After that, the median salary increases just $1,000 every five years, if it increases at all. By age 65, the person who made $45,000 at age 40 will make $48,000.

The wealthiest Americans see a similar pattern, although their salaries are much higher.

By age 40, those in the 99th percentile make a whopping $402,000.

But after that, their salaries may actually drop. That is, until they reach age 60, where on average they make $490,000.

That said, individual salaries will vary widely, Visual Capitalist points out.

If you don’t make that much, or even close to that much, don’t fret, experts say.

The ideal income is $95,000 a year for individuals to reach peak life satisfaction, according to researchers at Purdue University and the University of Virginia.

Why millions of Americans are working past the age of 65.
Workers like 80-year-old Tom Coomer are still in the workforce long past when they thought they would be enjoying retirement

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