Visualizing Income By Age Group in the U.S.


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The above chart, using data from the U.S. Census Bureau, shows the distribution of individual income by age group in the U.S.

Some Interesting Observations

Half of all 15 – 24 year-olds earn less than $12.5k per year. Not much of a surprise considering most individuals in this age bracket are still in high school or college with part-time jobs. 

Only 5.4% of 15 – 24 year-olds earn more than $50k per year. This percentage increases to 25.3% among 25-29 year-olds.

40 – 44 year-olds represent the age bracket with the highest percentage of individuals (56.3%) who earn over $50k per year.

50 – 54 year-olds have the highest percentage of individuals who earn $100k or more per year. Not much of a surprise either considering this is when earnings tend to peak in traditional jobs.

It’s interesting to see that in nearly every age group there’s a larger percentage of people who earn $100k per year than $75k – $100k per year.

In general, individual income tends to increase up to around age 40 – 54 before falling lower as age increases.

Zach

Zach is the author behind Four Pillar Freedom, a blog that teaches you how to build wealth and gain freedom in life.

Zach's favorite free financial tool he's been using since 2015 to manage his net worth is Personal Capital. Each month he uses their free Investment Checkup tool and Retirement Planner to track his investments and ensure that he's on the fast track to financial freedom.

Although the bulk of his net worth is invested in index funds, his favorite place to invest in individual stocks is M1 Finance, a site that allows you to build a custom portfolio of stocks for free.

His favorite way to save money each month on his recurring bills is by using Trim, a free financial app that negotiates lower cable, internet, and phone bills with any provider on your behalf.

His favorite micro-investing app is Acorns, a free financial app that takes just 5 minutes to set up and allows you to invest your spare change in a diversified portfolio.

His favorite place to find new personal finance articles to read is Collecting Wisdom, a site that collects the best personal finance articles floating around the web on a daily basis.

Zach

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