Net Worth Series 50s: How Much Should You Have at the Age of 50 – 59

Net Worth Series 50s

In this net worth series, I will share the net worth that a person in an age bracket (by decade) should have. We have discussed net worth for the 20s (click here to read), 30s (click here to read), and 40s (click here to read) in the previous posts. In this post, we will talk about the desired net worth of a person in the 50s.

Data source

Before we begin, let me explain the sources of my data. As I could not find the exact data for Malaysians’ net worth, I decided to use the EPF Basic Savings table as an approximation (click here for the table). However, the basic savings are intended to provide RM 1,000 per month for a period of 20 years, which I think is not enough. Thus, I am going to double the amount of the basic savings as the desired net worth.

Besides that, I am also going to share the income level by age group. The data that I use comes from Employee Wages Statistics (Formal Sector) Report for the third quarter of 2023. You can access the report by clicking here.

Keep in mind that this is based on my personal opinion and it just serves as a reference only. So, let’s start now.

Net worth series 50s

According to the EPF Basic Savings table, the recommended savings at age 50 is RM 175,000 and at age 55 is RM 240,000. The table only provides data up to the retirement age of 55.

The mean is RM 212,800 while the median is RM 212,000. I will take the mean as the amount is higher, so the net worth that a person in 50s should have would be twice of RM 212,800, which is RM 425,600.

Net worth is your total assets minus total liabilities (click here to learn more about net worth). Thus, after deducting all the debts, a person in 50s should have RM 425,600 under his/her name. However, as this is an average number, I will provide a range here. The range is from RM 350,000 to RM 480,000. If you are in your 50s and your net worth is within this range, you are on target. It would be better if your net worth is at least RM 425,600. You excel if your net worth is more than RM 480,000 before 55 years old.

Income level at 50s

Now, we shall move to the income. According to the report from Department of Statistics Malaysia, the median monthly wages for age group of 50 – 54 is RM 3,327 and for age group of 55 – 59 is RM 3,064. Thus, the income level for 50s ranges from RM 3,064 to RM 3,327 per month, translating to annual income of RM 36,768 to RM 39,924.

In my opinion, a person in his/her 20s should have one time his/her annual income as net worth; thrice in 30s; quintuple in 40s; and seven times in 50s. However, this is just my personal opinion and I will explain my rationale below.

A person in the 50s has approached his/her retirement years, and the median salary is starting to decrease in this decade. As this is the time when retirement starts, the soon-to-be retiree should have accumulated sufficient assets during his/her working years.

Based on the figures above, the ideal net worth for 50s is between RM 257,376 to RM 279,468.

Savvy financial moves during your 50s

Given the shrinking window before retirement, one of the most important net worth-building steps for you in your 50s may be to max out your retirement accounts.

Some financial moves to take include:

1. Optimise your retirement savings strategies.

2. Reevaluate your investment risk tolerance. 

3. Begin planning for medical expenses in retirement.

4. Reduce expenses and consider downsizing.

5. Pay down debt aggressively, protect your emergency fund. 

6. Draw up or revisit a will and/or a trust.


The 50s mark the beginning of the “stretch run” toward retirement for many people. The time window for building net worth during the wealth accumulation stage of your life is starting to shrink as retirement draws closer.

With a target and a plan, you will be able to achieve your target net worth. For a start, you may aim for the lower end of the figures above, RM 350,000 and slowly increase it to RM 480,000 (my own calculation).

This is the end of the net worth series. In the next article, I will share a summary for the ideal net worth of different age categories.

How can a financial planner help you?

I can help you to clarify your financial goals and objectives, and also set your net worth target together. We will also develop a plan to reach your goals and objectives, including your net worth target. This normally involves saving and investing. Furthermore, I will also help with your tax planning to reduce your tax liability. Depending on your situation, we may also work together in other areas of your finances, such as debt management and estate planning.

If you are interested in working with me to plan for your finances, just leave your details by clicking the button below. I will reach out to you and see if we would be a good fit for each other.

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Disclaimer: This post is for informational purpose only. You should use judgment and conduct due diligence before taking any action or implementing any plan suggested or recommended in this article.

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