Owning more than you owe is the initial step toward achieving financial security. As your net worth escalates, so does your wealth.

On an individual level, you have considerable control over your money, from how much you earn and borrow to the amount you save and invest. However, outside factors such as inflation, interest rates and unemployment can affect your ability to reach your wealth-building goals.

Despite challenges, many Americans feel they are in a secure financial position. A 2024 Schwab Modern Wealth survey found that more than a third of respondents believe they are already wealthy or are on track to become wealthy. Another 26% say that if they make certain changes, they can hit that mark.

Federal Reserve data from the first quarter of 2025 breaks down which generations are currently the most and least wealthy. These differentials exist for a reason, though, and a lower net worth isn’t necessarily negative.

How Personal Wealth Is Determined

Before diving into broader generational wealth, you should understand where those figures come from. Wealth is determined by a person’s net worth, which is then aggregated for statistical data.