{"id":15378,"date":"2024-04-11T13:46:08","date_gmt":"2024-04-11T13:46:08","guid":{"rendered":"https:\/\/jobera.com\/?p=15378"},"modified":"2024-04-11T13:46:08","modified_gmt":"2024-04-11T13:46:08","slug":"american-savings-statistics","status":"publish","type":"post","link":"https:\/\/jobera.com\/resources\/american-savings-statistics\/","title":{"rendered":"40+ American Savings Statistics &amp; Trends [2026]"},"content":{"rendered":"\n<p><em>Am I saving enough?&nbsp;<\/em><\/p>\n\n\n\n<p><em>We all go to this question every now and then!<\/em><\/p>\n\n\n\n<p>It is to be noted that<strong> 10% <\/strong>of Americans have<strong> no savings<\/strong>.<\/p>\n\n\n\n<p><strong>24%<\/strong> of Americans have <strong>not saved <\/strong>any money for emergencies.<\/p>\n\n\n\n<p>It is concerning to note that <strong>50%<\/strong> of women have <strong>no retirement savings<\/strong> by the age of <strong>55 to 66<\/strong>.<\/p>\n\n\n\n<p>And<strong> 80% of women<\/strong> live <strong>impoverished <\/strong>even when they retire.<\/p>\n\n\n\n<p><strong>66% <\/strong>of Americans were able to save <strong>more money <\/strong>in 2023 due to <strong>increased interest rates<\/strong> and <strong>&nbsp;pay raises<\/strong>.&nbsp;<\/p>\n\n\n\n<p><em>Ready to delve deeper into savings statistics, facts, and trends in the US? Let\u2019s begin!<\/em><\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><nav><ul><li class=\"\"><a href=\"#top-american-savings-statistics-editors-pick\">Top American Savings Statistics: Editor\u2019s Pick<\/a><\/li><li class=\"\"><a href=\"#general-american-savings-statistics\">General American Savings Statistics<\/a><\/li><li class=\"\"><a href=\"#american-savings-by-demographics\">American Savings By Demographics<\/a><\/li><li class=\"\"><a href=\"#average-american-savings-by-income\">Average American Savings By Income<\/a><\/li><li class=\"\"><a href=\"#average-savings-by-state\">Average Savings By State<\/a><\/li><li class=\"\"><a href=\"#emergency-savings-statistics\">Emergency Savings Statistics<\/a><\/li><li class=\"\"><a href=\"#retirement-savings-statistics\">Retirement Savings Statistics<\/a><\/li><li class=\"\"><a href=\"#american-savings-trends\">American Savings Trends<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"top-american-savings-statistics-editors-pick\">Top American Savings Statistics: Editor\u2019s Pick<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"427\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2024\/04\/no-savings-stats-1024x427.jpg\" alt=\"71% of Americans have a savings account\" class=\"wp-image-15384\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/no-savings-stats-1024x427.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/no-savings-stats-300x125.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/no-savings-stats-768x320.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/no-savings-stats.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>71%<\/strong> of Americans have a <strong>savings account<\/strong>. <sup>[12]<\/sup><\/li>\n\n\n\n<li><strong>58%<\/strong> of Americans have<strong> less than $5,000 <\/strong>in savings. <sup>[12]<\/sup><\/li>\n\n\n\n<li>Americans aged <strong>75+<\/strong> have the <strong>highest savings<\/strong> of about <strong>$60,410. <\/strong><strong><sup>[13]<\/sup><\/strong><\/li>\n\n\n\n<li>Households with an <strong>average income<\/strong> above <strong>$90k<\/strong> had the highest median savings. <sup>[8]<\/sup><\/li>\n\n\n\n<li>US BEA estimated the <strong>District of Columbia would save $2,806<\/strong> per capita in 2022. <sup>[6]<\/sup><\/li>\n\n\n\n<li>The<strong> least <\/strong>savings were estimated for <strong>Mississippi <\/strong>with <strong>$1,508 per capita<\/strong> in 2022. <sup>[6]<\/sup><\/li>\n\n\n\n<li>An average American is saving about <strong>$5000 or less <\/strong>for emergencies. <sup>[5]<\/sup><\/li>\n\n\n\n<li>&nbsp;<strong>13%<\/strong> of Americans<strong> over 60<\/strong> have no retirement savings. <sup>[3]<\/sup><\/li>\n\n\n\n<li><strong>47%<\/strong> of people are saving for their<strong> retirement <\/strong>but not into <strong>retirement accounts. <\/strong><strong><sup>[3]<\/sup><\/strong><\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"general-american-savings-statistics\">General American Savings Statistics<\/h2>\n\n\n\n<p><em>Amount of balance in an average American\u2019s savings account?<\/em><\/p>\n\n\n\n<p>Overall US <strong>personal savings<\/strong> amounted to <strong>$802.1 billion<\/strong> as of April 2023. <sup>[2]<\/sup><\/p>\n\n\n\n<p>If we include <strong>retirement assets<\/strong> in savings, an average American has <strong>&nbsp;$65,100<\/strong> in savings. <sup>[2]<\/sup><\/p>\n\n\n\n<p><strong>71%<\/strong> of Americans have a <strong>savings account<\/strong>. <sup>[12]<\/sup><\/p>\n\n\n\n<p>It is to be noted that<strong> 10% <\/strong>of Americans have<strong> no savings<\/strong>. <sup>[12]<\/sup><\/p>\n\n\n\n<p><strong>58%<\/strong> of Americans have<strong> less than $5,000 <\/strong>in savings. <sup>[12]<\/sup><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Average savings amount<\/strong><\/th><th><strong>Percentage of Americans<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Less than $1,000<\/td><td>42%<\/td><\/tr><tr><td>$1,000-$5,000<\/td><td>16%<\/td><\/tr><tr><td>$5,000-$10,000<\/td><td>9%<\/td><\/tr><tr><td>$10,000-$25,000<\/td><td>8%<\/td><\/tr><tr><td>$25,000-$50,000<\/td><td>5%<\/td><\/tr><tr><td>$50,000+<\/td><td>20%<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><em>Source: <a href=\"https:\/\/www.fool.com\/retirement\/2019\/12\/18\/the-percentage-of-americans-with-less-than-1000-in\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The Motley Fool<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"american-savings-by-demographics\">American Savings By Demographics<\/h2>\n\n\n\n<p><em>It isn\u2019t surprising that people aged below 35 have the least savings. Why?&nbsp;<\/em><\/p>\n\n\n\n<p><em>Because they are either still in college or have entered the workforce and figuring it out.<\/em><\/p>\n\n\n\n<p>Americans aged <strong>75+<\/strong> have the <strong>highest savings<\/strong> of about <strong>$60,410. <\/strong><strong><sup>[13]<\/sup><\/strong><\/p>\n\n\n\n<p>People aged between<strong> 35 to 44 <\/strong>have reported saving around<strong> $27,910<\/strong> on average. <sup>[13]<\/sup><\/p>\n\n\n\n<p>People with <strong>college degrees<\/strong> have reported to be saving an average of <strong>$78,890. <\/strong><strong><sup>[13]<\/sup><\/strong><\/p>\n\n\n\n<p>While <strong>high school diploma <\/strong>holders save about<strong> $20,100, no high school diploma<\/strong> holders make about <strong>$9,190<\/strong>. <sup>[13]<\/sup><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"average-savings-by-gender-race\">Average Savings by Gender &amp; Race<\/h3>\n\n\n\n<p>It is concerning to note that <strong>50%<\/strong> of women have <strong>no retirement savings<\/strong> by the age of <strong>55 to 66<\/strong>. <sup>[10]<\/sup><\/p>\n\n\n\n<p>And<strong> 80% of women<\/strong> live <strong>impoverished <\/strong>even when they retire. <sup>[10]<\/sup><\/p>\n\n\n\n<p><strong>62%<\/strong> of American women have <strong>less than $1,000<\/strong> in savings compared to <strong>17% of men<\/strong>. <sup>[11]<\/sup><\/p>\n\n\n\n<p>There is an evident disparity between different races and ethnic groups.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Race\/Ethnicity<\/strong><\/th><th><strong>Median net worth amount<\/strong><\/th><th><strong>Average net worth amount<\/strong><\/th><\/tr><\/thead><tbody><tr><td>White<\/td><td>$189,100<\/td><td>$980,550<\/td><\/tr><tr><td>Black<\/td><td>$24,100<\/td><td>$142,330<\/td><\/tr><tr><td>Hispanic<\/td><td>$36,050<\/td><td>$165,540<\/td><\/tr><tr><td>Other<\/td><td>$74,500<\/td><td>$656,600<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><em>Source: <a href=\"https:\/\/time.com\/personal-finance\/article\/average-american-savings-account-balance\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Timestamped<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p>The median household income for<strong> white, non-Hispanic households<\/strong> was still significantly <strong>higher<\/strong>, at <strong>$76,057<\/strong>, than African-American households, at<strong> 46,073<\/strong>, and Hispanic households, at <strong>$56,113. <\/strong><sup>[9]<\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"average-american-savings-by-income\">Average American Savings By Income<\/h2>\n\n\n\n<p>There should not be any doubt in the fact that income significantly affects savings.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Income<\/strong><\/th><th><strong>Median amount<\/strong><\/th><th><strong>Average amount<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Less than $20,000<\/td><td>$810<\/td><td>$8,400<\/td><\/tr><tr><td>$20,000 to $39,900<\/td><td>$2,050<\/td><td>$11,260<\/td><\/tr><tr><td>$40,000 to $59,900<\/td><td>$4,320<\/td><td>$16,390<\/td><\/tr><tr><td>$60,000 to $79,900<\/td><td>$10,000<\/td><td>$28,680<\/td><\/tr><tr><td>$80,000 to $89,900<\/td><td>$20,000<\/td><td>$51,840<\/td><\/tr><tr><td>$90,000 to $100,000<\/td><td>$70,000<\/td><td>$229,030<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><em>Source: <a href=\"https:\/\/time.com\/personal-finance\/article\/average-american-savings-account-balance\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Timestamped<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Households with an <strong>average income<\/strong> above <strong>$90k<\/strong> had the highest median savings. <sup>[8]<\/sup><\/li>\n\n\n\n<li>The households with income between <strong>$90k to $100k<\/strong> save an average amount of <strong>$229,030<\/strong>.<\/li>\n\n\n\n<li>Comparatively, households with incomes between <strong>$80k and 89k<\/strong> save around<strong> $51,840.<\/strong><\/li>\n<\/ul>\n\n\n\n<p><em>Noticed the huge gap?<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"average-savings-by-state\">Average Savings By State<\/h2>\n\n\n\n<p><em>Does where you live impact your saving habits?<\/em><\/p>\n\n\n\n<p><em>Expert opinion, YES!<\/em><\/p>\n\n\n\n<p>According to a Forbes Advisor study of the worst and best states to save, <strong>Northeastern states<\/strong> are the most difficult to save money, while <strong>Midwest states<\/strong> are some of the easiest. <sup>[6]<\/sup><\/p>\n\n\n\n<p>Here we have curated a list of states saving the least and most money.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>States Saving the Most Money<\/strong><\/th><th><strong>States Saving the Least Money<\/strong><\/th><\/tr><\/thead><tbody><tr><td>District of Columbia<\/td><td>Arkansas<\/td><\/tr><tr><td>Massachusetts<\/td><td>Kentucky<\/td><\/tr><tr><td>Connecticut<\/td><td>Alabama<\/td><\/tr><tr><td>New Jersey<\/td><td>West Virginia<\/td><\/tr><tr><td>Washington<\/td><td>Mississippi<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><em>Source: <a href=\"https:\/\/www.forbes.com\/advisor\/banking\/the-worst-and-best-states-to-live-in-for-saving-money\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Forbes Advisor Study<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p>It is to be noted that the states saving the <strong>least money<\/strong> are<strong> not<\/strong> the states where it is <strong>difficult<\/strong> to save money.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Worst states for saving money<\/strong><\/th><th><strong>Best states for saving money<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Hawaii<\/td><td>North Dakota<\/td><\/tr><tr><td>California<\/td><td>South Dakota<\/td><\/tr><tr><td>Maryland<\/td><td>West Virginia<\/td><\/tr><tr><td>New York<\/td><td>Missouri<\/td><\/tr><tr><td>New Jersey<\/td><td>Ohio<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><em>Source: <a href=\"https:\/\/www.forbes.com\/advisor\/banking\/the-worst-and-best-states-to-live-in-for-saving-money\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Forbes Advisor Study<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p>US BEA estimated the <strong>District of Columbia would save $2,806<\/strong> per capita in 2022. <sup>[6]<\/sup><\/p>\n\n\n\n<p>The<strong> least <\/strong>savings were estimated for <strong>Mississippi <\/strong>with <strong>$1,508 per capita<\/strong> in 2022. <sup>[6]<\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"emergency-savings-statistics\">Emergency Savings Statistics<\/h2>\n\n\n\n<p><em>Are Americans prepared for emergencies?<\/em><\/p>\n\n\n\n<p>According to a study by <strong>CFPB<\/strong>,<strong> 24%<\/strong> have <strong>not saved <\/strong>any money for emergencies. <sup>[4]<\/sup><\/p>\n\n\n\n<p><strong>37% <\/strong>of Americans admitted to having <strong>at least a month\u2019s<\/strong> worth of income in <strong>emergency savings<\/strong>. <sup>[4]<\/sup><\/p>\n\n\n\n<p>While <strong>39% <\/strong>of people even reported saving<strong> less than a month\u2019s<\/strong> funds. <sup>[4]<\/sup><\/p>\n\n\n\n<p>Though it\u2019s not enough, there has been an increase in emergency preparedness in the last decade.&nbsp;<\/p>\n\n\n\n<p>As in <strong>2013, only 50% <\/strong>of people reported that they could cover a small emergency expense using their own money, the percentage increased to <strong>68% in 2021<\/strong>. <sup>[3]<\/sup><\/p>\n\n\n\n<p><em>Have you set up your emergency fund yet?&nbsp;<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-much-money-should-you-save-for-emergencies\">How much money should you save for emergencies?<\/h3>\n\n\n\n<p>Experts suggest keeping at <strong>least three to six months\u2019<\/strong> worth of living expenses in an emergency fund. <sup>[5]<\/sup><\/p>\n\n\n\n<p>An average American is saving about <strong>$5000 or less <\/strong>for emergencies. <sup>[5]<\/sup><\/p>\n\n\n\n<p>The <strong>median emergency savings <\/strong>were $5,000 as of late 2021, with over a<strong> third (34%)<\/strong> of Americans reporting saving less. <sup>[5]<\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"retirement-savings-statistics\">Retirement Savings Statistics<\/h2>\n\n\n\n<p>It is shocking to note that <strong>13%<\/strong> of Americans<strong> over 60<\/strong> have no retirement savings. <sup>[3]<\/sup><\/p>\n\n\n\n<p><strong>42% <\/strong>of Americans between <strong>18-29 years<\/strong> of age have <strong>no retirement savings<\/strong>. <sup>[3]<\/sup><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Age Group<\/strong><\/th><th><strong>% of people without retirement savings<\/strong><\/th><\/tr><\/thead><tbody><tr><td>18-29<\/td><td>42%<\/td><\/tr><tr><td>30-44<\/td><td>26%<\/td><\/tr><tr><td>45-59<\/td><td>17%<\/td><\/tr><tr><td>60+<\/td><td>13%<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><em>Source. <a href=\"https:\/\/www.statista.com\/statistics\/1273812\/adults-with-no-retirement-savings-by-age-us\/#:~:text=13%20percent%20of%20Americans%2060,did%20not%20have%20retirement%20savings.\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Statista<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p>An economic well-being survey of US households conducted by the <strong>Federal Reserve in 2023<\/strong> found that <strong>8%<\/strong> of <strong>non-retired adults<\/strong> tapped their retirement savings to cover an emergency in 2022. <sup>[3]<\/sup><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"types-of-retirement-savings\">Types of retirement savings<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"900\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2024\/04\/types-of-retirement-savings.jpg\" alt=\"Types of retirement savings held by non-retirees\" class=\"wp-image-15386\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/types-of-retirement-savings.jpg 800w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/types-of-retirement-savings-267x300.jpg 267w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/types-of-retirement-savings-768x864.jpg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n\n<p><em>Source: <a href=\"https:\/\/www.federalreserve.gov\/publications\/files\/2022-report-economic-well-being-us-households-202305.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The Federal Reserve<\/a><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>47%<\/strong> of people are saving for their<strong> retirement <\/strong>but not into <strong>retirement accounts. <\/strong><strong><sup>[3]<\/sup><\/strong><\/li>\n\n\n\n<li><strong>54%<\/strong> of Americans take up a defined contribution pension plan like <strong>401(k) or 403(b)<\/strong>.<\/li>\n\n\n\n<li><strong>34% <\/strong>have saved up in the individual retirement accounts.<\/li>\n\n\n\n<li><strong>8% <\/strong>have saved <strong>business or real estate<\/strong> <strong>assets<\/strong> for their retirement.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"american-savings-trends\">American Savings Trends<\/h2>\n\n\n\n<p>According to a <strong>Forbes survey<\/strong>, <strong>66% <\/strong>of Americans were able to save <strong>more money <\/strong>in 2023. <sup>[1]<\/sup>&nbsp;<\/p>\n\n\n\n<p>The following reasons were given by respondents:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>50%<\/strong> saved more because of<strong> increased interest rates<\/strong>. <sup>[1]<\/sup>&nbsp;<\/li>\n\n\n\n<li><strong>35%<\/strong> of Americans were able to save more due to<strong> pay raises<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>In recent times, average personal savings in America went<strong> highest in 2021<\/strong>, due to the pandemic. <sup>[1]<\/sup><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/dev.jobera.com\/resources\/wp-content\/uploads\/2024\/04\/american-savings-stats-1024x683.jpg\" alt=\"Average personal savings in the US\" class=\"wp-image-15387\" srcset=\"https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/american-savings-stats-1024x683.jpg 1024w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/american-savings-stats-300x200.jpg 300w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/american-savings-stats-768x512.jpg 768w, https:\/\/jobera.com\/resources\/wp-content\/uploads\/2024\/04\/american-savings-stats.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><em>Source: <a href=\"https:\/\/news.northwesternmutual.com\/planning-and-progress-study-2023\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Northwestern Mutual<\/a><\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"are-americans-using-the-interest-rate-hikes\">Are Americans using the interest rate hikes?<\/h3>\n\n\n\n<p>According to Northwestern Mutual&#8217;s 2023 report Americans are taking following steps to address economic uncertainty:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Nearly 64%<\/strong> of respondents are<strong> cutting costs. <\/strong><sup>[2]<\/sup><\/li>\n\n\n\n<li><strong>50%<\/strong> are building<strong> savings<\/strong><\/li>\n\n\n\n<li><strong>41%<\/strong> are delaying <strong>large expenses<\/strong>.&nbsp;<\/li>\n<\/ol>\n\n\n\n<p>Households are utilizing multiple strategies at a time.<\/p>\n\n\n\n<div class=\"wp-block-columns has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"background-color:#fff9ed\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><strong>If you found this article interesting, you might enjoy these too:<\/strong><\/p>\n\n\n<p>[related_posts_by_tax taxonomies=&#8221;category,post_tag&#8221; posts_per_page=&#8221;5&#8243; orderby=&#8221;post_modified&#8221; title=&#8221;&#8221;]<\/p>\n<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"fa-qs\">FAQs&nbsp;<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-much-do-americans-typically-have-in-their-retirement-savings-accounts\">How much do Americans typically have in their retirement savings accounts?<\/h3>\n\n\n\n<p>As of late 2021, the median emergency savings were $5,000, with over a third (34%) of Americans reporting saving less.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-much-should-you-save-at-30\">How much should you save at 30?<\/h3>\n\n\n\n<p>Financial experts often recommend having the equivalent of your annual salary saved by age 30. However, this can vary depending on individual circumstances and financial goals. A common guideline is to aim to have saved at least half of your annual salary by this age.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-much-should-you-save-at-40\">How much should you save at 40?<\/h3>\n\n\n\n<p>By age 40, it&#8217;s generally suggested to have three times your annual salary saved. Again, this is a guideline and may vary based on factors such as lifestyle, retirement goals, and other financial obligations. It&#8217;s important to regularly assess and adjust savings goals based on individual circumstances.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"conclusion\">Conclusion<\/h2>\n\n\n\n<p>By analyzing these statistics, it&#8217;s evident that there are disparities in savings across demographics, income levels, and geographic locations in the United States. Understanding these trends can help individuals and policymakers address challenges and implement strategies to promote financial security and stability.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sources\">Sources<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Forbes. <a href=\"https:\/\/www.forbes.com\/advisor\/banking\/savings\/best-high-yield-savings-accounts\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Best High-Yield Savings Accounts For April 2024<\/a>&nbsp;<\/li>\n\n\n\n<li>Northwestern Mutual. <a href=\"https:\/\/news.northwesternmutual.com\/planning-and-progress-study-2023\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Planning &amp; Progress Study 2023<\/a><\/li>\n\n\n\n<li>The Federal Reserve. <a href=\"https:\/\/www.federalreserve.gov\/publications\/files\/2022-report-economic-well-being-us-households-202305.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Economic Well-Being of US Households<\/a><\/li>\n\n\n\n<li>Consumer Financial Protection Bureau (CFPB). <a href=\"https:\/\/www.consumerfinance.gov\/data-research\/making-ends-meet-survey\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Making Ends Meet Survey and Consumer Credit Panel<\/a><\/li>\n\n\n\n<li>TransAmerica. <a href=\"https:\/\/cdn.bfldr.com\/86JM1UOD\/as\/w63qqmtnnnmq553qbfn4c3\/Emergency_Savings_Whitepaper\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Emergency Savings: Your Key to Financial Resilience<\/a><\/li>\n\n\n\n<li>Forbes Advisor Study.<a href=\"https:\/\/www.forbes.com\/advisor\/banking\/the-worst-and-best-states-to-live-in-for-saving-money\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"> The Worst and Best States to Live in to Save Money<\/a><\/li>\n\n\n\n<li>Statista. <a href=\"https:\/\/www.statista.com\/statistics\/1273812\/adults-with-no-retirement-savings-by-age-us\/#:~:text=13%20percent%20of%20Americans%2060,did%20not%20have%20retirement%20savings.\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Share of adults without retirement savings in the United States as of January 2020, by age group<\/a><\/li>\n\n\n\n<li>Federal Reserve Bulletin. <a href=\"https:\/\/www.federalreserve.gov\/publications\/files\/scf20.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Changes in US Family Finances<\/a><\/li>\n\n\n\n<li>U.S. Census. <a href=\"https:\/\/www.epi.org\/blog\/by-the-numbers-income-and-poverty-2019\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Working Economics Blog<\/a><\/li>\n\n\n\n<li>Census. <a href=\"https:\/\/www.census.gov\/library\/stories\/2022\/01\/women-more-likely-than-men-to-have-no-retirement-savings.html#:~:text=Many%20adults%20approaching%20retirement%20age,and%20Program%20Participation%20(SIPP).\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Those Who Married Once More Likely Than Others to Have Retirement Savings<\/a><\/li>\n\n\n\n<li>Yahoo. <a href=\"https:\/\/www.yahoo.com\/now\/58-americans-less-1-000-090000503.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">58% of Americans Have Less Than $1,000 in Savings, Survey Finds<\/a><\/li>\n\n\n\n<li>The Motley Fool. <a href=\"https:\/\/www.fool.com\/retirement\/2019\/12\/18\/the-percentage-of-americans-with-less-than-1000-in\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The Percentage of Americans With Less Than $1,000 in Savings Is Shocking<\/a><\/li>\n\n\n\n<li>Timestamped. <a href=\"https:\/\/time.com\/personal-finance\/article\/average-american-savings-account-balance\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">American savings account balance<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Am I saving enough?&nbsp; We all go to this question every now and then! It is to be noted that\u2026<\/p>\n","protected":false},"author":6,"featured_media":15389,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[206,73,207],"class_list":["post-15378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-statistics","tag-america","tag-income","tag-savings"],"_links":{"self":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts\/15378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/comments?post=15378"}],"version-history":[{"count":0,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/posts\/15378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/media\/15389"}],"wp:attachment":[{"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/media?parent=15378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/categories?post=15378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobera.com\/resources\/wp-json\/wp\/v2\/tags?post=15378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}