Wealthier Than You Think, Less Flexible Than You Realize: What the Numbers Say About Americans 65–74

If you are between 65 and 74, there is a reasonable chance you are wealthier than most Americans — including younger versions of yourself. According to the Federal Reserve’s Survey of Consumer Finances, households in this age range have a median net worth of $410,000, the highest of any age group in the country. Decades of work, mortgage payments, and saving tend to reach their high-water mark right around this stage of life.

So why doesn’t it always feel that way?

The answer, for many households, is not the size of their wealth but the shape of it. Where the money sits matters as much as how much of it there is — and for the typical household in this age range, most of it sits somewhere that is easy to see and hard to use.

Your biggest asset is probably your house

The Federal Reserve’s data shows how wealth at this stage of life is actually held. Seventy-six percent of Americans 65–74 own a home, with a median value of $320,000. About half — 51% — have a retirement account, and among those who do, the median balance is $200,000.

Notice what those numbers mean when you put them side by side. For the typical household, the home is worth considerably more than the retirement account. And for the nearly half of this age group with no retirement account at all, the home isn’t just the biggest asset — it is most of the wealth, full stop.

Homeowners aged 62 and older collectively hold a record $14.92 trillion in home equity, according to industry data from the first quarter of 2026. That is an enormous amount of wealth. It is also, for the most part, wealth that pays no bills.

The catch: a house is not a checking account

Net worth is a useful number, but it can be a misleading one, because it treats every dollar as equally available. In practice, a dollar in a savings account and a dollar of home equity behave very differently. One can cover a medical bill, a roof repair, or a tax payment tomorrow morning. The other is locked inside an asset you live in.

The Federal Reserve’s data captures the consequences. Even at this stage of life, 65% of households carry some debt, and about a third carry a credit card balance. Many of those same households own homes with hundreds of thousands of dollars in equity. On paper, that combination makes little sense — paying credit card interest rates while substantial wealth sits idle. In real life, it happens constantly, because reaching home equity is harder than most people expect.

Here is the part that surprises many homeowners: the traditional ways to access home equity — a cash-out refinance or a home equity line of credit — are approved based primarily on income, not on the equity itself. Lenders want to see cash flow that can support a new monthly payment. For a retiree living on Social Security and savings, that requirement can be difficult to meet, no matter how much the home is worth. Some homeowners discover this only when they apply — and are declined — at exactly the moment they needed the money.

What households may want to consider

There is no single right answer for how, or whether, to use home equity in retirement, and this article is not a recommendation. But the numbers suggest a question worth asking before a need arises rather than after: if your household faced a large expense next year, where would the money come from — and would your home equity be reachable if you wanted it to be?

Households exploring that question have more options than in the past. Traditional routes include refinancing and home equity lines of credit, where income allows. A newer category, the home equity investment agreement — or HEI — takes a different approach: the homeowner receives a lump sum today in exchange for a share of the home’s future value, settled when the home is sold or the homeowner passes away or permanently moves out. An HEI is not a loan and is not a reverse mortgage. There is no interest rate and no new monthly payment, and homeowners retain title and ownership of the home and continue to live in and maintain it. CHEIFS®, offered by Cornerstone Financing, is one example of this structure.

Like any financial arrangement, an HEI involves trade-offs. The homeowner gives up a portion of the home’s future value, remains responsible for property taxes, insurance, maintenance, and any existing mortgage payments, and agrees to certain conditions on selling, transferring, or refinancing the home. For some households the exchange may be worth exploring; for others it will not be. Many people find it useful to discuss options like these with a financial professional who can look at the whole picture — income, savings, taxes, and the home together.

The bottom line

The Federal Reserve’s numbers tell a story that is both encouraging and cautionary. Americans 65–74 have built more wealth than any other age group — and much of it is concentrated in the place they live. Recognizing that early, while there is still time to plan calmly, is what separates households that treat their home equity as a deliberate part of their financial picture from those that confront it for the first time under pressure.

You may be wealthier than you think. The worthwhile question is whether your wealth is arranged the way you need it to be.

Financial professionals can read our companion analysis of the same data: Peak Net Worth, Peak Illusion: What the 65–74 Balance Sheet Doesn’t Tell You.

Data sources: Federal Reserve Board, Survey of Consumer Finances; NRMLA/RiskSpan Reverse Mortgage Market Index, Q1 2026.

Disclosures

This article is for informational and marketing purposes only. It does not constitute financial, tax, or legal advice. Homeowners should consult with independent, licensed financial, tax, and legal professionals for advice. CHEIFS may involve risks, fees, costs, contractual obligations, and other material considerations not appropriate for all homeowners. Homeowners and their independent advisors should carefully evaluate all available options against the homeowner’s individual financial situation, goals, and overall financial and tax strategy.

CHEIFS is a home equity investment agreement (or “HEI”), not a loan. This is not an offer or commitment. CHEIFS is subject to underwriting and approval, including property appraisal(s) and verification of credit history, property condition, title, and property insurance, among other things. The subject property may not be in foreclosure or bankruptcy. Performance of the CHEIFS agreement is secured by a mortgage or trust deed, depending on the state, in no lower than second lien priority. Minimum investment payment is $70,000. Owner-occupied, 1-2 unit residential properties only. The equity share return becomes payable upon a settlement event and is calculated as a percentage of the home’s future value, subject to the program’s cost cap. Homeowner pays an origination fee plus appraisal, title, recording fees, and other closing costs. Homeowner must occupy and maintain the property and remain current on property insurance, taxes and assessments, and payments on any other mortgages. Terms may vary and are subject to change. Additional conditions apply. Not available in all states.

Cornerstone acts for itself, as the investor, and not as an agent or broker for the homeowner or any third party. There is no agency relationship between Cornerstone and a homeowner related to the CHEIFS agreement.

Cornerstone does not offer HEI products or solicit business related to properties located in the states of NY, MN, and certain other states. Please visit cheifs.com/licensing for a list of states where CHEIFS is offered. CHEIFS is offered exclusively by Cornerstone Financing LLC, and its subsidiary Domus Funding Corp. (in California only), and does business as “Domus Funding LLC” in OH and as “Domus Funding” in NH. Principal Office: 86 Summit Ave., Ste. 201, Summit, NJ 07901. Toll-free (855) 462-4343. NMLS #2557707, www.nmlsconsumeraccess.org. CA DRE license #02248492. Not licensed in all states. Cornerstone’s HEI product is not offered under state mortgage lending licenses.

© 2026 Cornerstone Financing LLC. “CHEIFS CONVERTING HOME EQUITY INTO FINANCIAL SUCCESS” and “CHEIFS” are registered service marks, and the CHEIFS logo is a service mark, of Cornerstone Financing LLC. All rights reserved.