How much Americans have saved varies wildly by age, income, and whether you look at averages or medians. Here’s where the typical American stands — and the benchmarks you should aim for.
Quick answer: Average transaction-account savings: $62,900 (median: $8,200), per the Federal Reserve’s 2025 Survey of Consumer Finances. Fidelity’s retirement savings guideline: by 30, 1x salary; by 40, 3x; by 50, 6x; by 60, 8x. 24% of Americans have no emergency savings at all, per Bankrate’s 2026 survey.
Average and Median Savings by Age
Figures below are transaction-account balances (checking, savings, money market, and prepaid cards) from the Federal Reserve’s 2025 Survey of Consumer Finances (SCF), released in October 2026 — the most recent edition; the Fed conducts the SCF every three years. Figures are our calculation from the survey’s public data, in 2025 dollars, for families that have a transaction account (about 99% do). The SCF reports these six age brackets by the age of the household’s reference person; it does not publish a separate “under 25” cut.
| Age Group | Average Savings | Median Savings |
|---|---|---|
| Under 35 | $20,500 | $5,000 |
| 35–44 | $40,800 | $6,600 |
| 45–54 | $62,700 | $9,400 |
| 55–64 | $90,700 | $10,000 |
| 65–74 | $78,800 | $10,000 |
| 75+ | $97,100 | $14,000 |
Note: These figures include checking, savings, and money market accounts (transaction accounts). They do not include retirement accounts, stocks, bonds, or home equity. Because the SCF is only fielded every three years, these numbers are the most current officially published data but will lag current-year conditions — treat them as directional rather than exact for today.
The gap between average and median tells an important story: a relatively small number of households with very high balances pull the average up, while the typical American holds far less.
How Much Americans Have Saved (All Sources): Net Worth by Age
Net worth (total assets, including retirement accounts, investments, and home equity, minus debts) is a better measure of overall financial position than transaction-account balances alone. The table below uses the same Federal Reserve 2025 Survey of Consumer Finances, reported in 2025 dollars (our calculation from the public data):
| Age Group | Average Net Worth | Median Net Worth |
|---|---|---|
| Under 35 | $135,700 | $32,800 |
| 35–44 | $669,300 | $156,000 |
| 45–54 | $1,243,600 | $254,700 |
| 55–64 | $1,871,000 | $411,300 |
| 65–74 | $1,870,900 | $431,900 |
| 75+ | $1,949,700 | $504,600 |
Net worth is not the same as cash savings — it includes home equity and retirement account balances, which can be costly to tap before retirement (certain early retirement-plan withdrawals carry a 10% additional tax), and it nets out debts like mortgages and student loans. Use this table for a big-picture wealth comparison, and the transaction-account table above for a more accessible-cash comparison.
Savings Benchmarks by Age
Fidelity’s retirement savings guideline suggests these milestones:
| Age | Savings Benchmark (× Salary) | Example (at a $60,000 salary) |
|---|---|---|
| 30 | 1× annual salary | $60,000 |
| 40 | 3× annual salary | $180,000 |
| 50 | 6× annual salary | $360,000 |
| 60 | 8× annual salary | $480,000 |
| 67 | 10× annual salary | $600,000 |
These come from Fidelity’s guideline, which assumes saving 15% of income a year from age 25 and retiring at 67, and they include all retirement savings, not just cash in savings accounts. Confirm they fit your own income, retirement age, and Social Security expectations before using them as a hard target.
Emergency Fund Statistics
Per Bankrate’s 2026 Annual Emergency Savings Report (surveyed December 2-8, 2025):
| Emergency Fund Status | % of Americans |
|---|---|
| Could cover 6+ months of expenses | 27% |
| Could cover 3–5 months | 19% |
| Have some savings but less than 3 months of expenses | 30% |
| Have no emergency savings at all | 24% |
How Much Emergency Fund You Need
| Monthly Expenses | 3-Month Fund | 6-Month Fund |
|---|---|---|
| $3,000 | $9,000 | $18,000 |
| $4,000 | $12,000 | $24,000 |
| $5,000 | $15,000 | $30,000 |
| $6,000 | $18,000 | $36,000 |
| $8,000 | $24,000 | $48,000 |
Who needs 6 months: Single-income households, self-employed, volatile industries, those with health issues. Who can get by with 3 months: Dual-income households, stable employment, strong family safety net.
Savings Rate in America
The personal savings rate (personal saving as a percentage of disposable personal income), per the Bureau of Economic Analysis:
| Year | Personal Savings Rate |
|---|---|
| August 2026 (latest available) | 4.1% |
The 2026 figure (4.1%) is the BEA’s August 2026 reading, from its “Personal Income and Outlays” release of September 30, 2026. BEA revises its saving-rate estimates from time to time, so figures for other periods can differ from earlier published values.
How to Increase Your Savings Rate
| Target Savings Rate | Level | Strategy |
|---|---|---|
| 5% | Minimum | Automate $1 per $20 of take-home pay |
| 10% | Decent | Cut one major expense (dining out, subscriptions) |
| 15% | Good | Follow the 50/30/20 rule (50% needs, 30% wants, 20% savings) |
| 20% | Strong | Aggressive budgeting + income growth |
| 25%+ | FIRE path | Maximize income, minimize expenses |
| 50%+ | Extreme FIRE | Requires high income relative to expenses |
Where to Keep Your Savings
| Savings Goal | Timeline | Best Account |
|---|---|---|
| Emergency fund | Always accessible | High-yield savings account |
| Vacation fund | 3-12 months | High-yield savings |
| Car purchase | 1-3 years | High-yield savings or short-term CD |
| Home down payment | 2-5 years | High-yield savings (safe) or CD ladder |
| Retirement | 5-40 years | 401(k), IRA (invested in stocks/bonds) |
| College fund | 5-18 years | 529 plan |
Rule of thumb: Money you won’t need for 5+ years is often invested rather than held in a savings account. Savings rates can fall behind inflation over long periods, while investments carry the risk of loss.
How to Build Savings From $0
Month 1-3: Build the habit
- Open a high-yield savings account
- Set up automatic transfers ($25-$100/paycheck)
- Save any windfalls (tax refund, bonuses, gifts)
- Goal: $500-$1,000
Month 4-6: Build momentum
- Increase automatic transfers by $25-$50
- Reduce one recurring expense and redirect it to savings
- Goal: $2,000-$3,000
Month 7-12: Reach one month of expenses
- Continue increasing contributions
- Review and cut unnecessary subscriptions
- Goal: One full month of expenses ($3,000-$5,000)
Year 2+: Reach full emergency fund
- Target an emergency fund sized to your situation (the table above shows 3-month and 6-month amounts)
- Start saving for specific goals (home, travel, etc.)
- Begin investing any savings beyond emergency fund
Explore More
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy