Americans’ savings habits run the gamut, from checking and transaction accounts to dedicated savings and retirement balances. As you review the numbers, you’ll see how median and average figures differ by account type, age, and income. You’ll also track recent shifts in the personal saving rate to understand what households may be able to set aside.
Key Takeaways
- Median checking account balance for U.S. households was $2,800 in 2022, up from $2,200 in 2019, Federal Reserve SCF
- Average transaction account balance reached $42,000 per family in 2022 SCF data
- 2022 median savings account balance for Americans was $5,300, FDIC survey
- Average 401(k) balance for Vanguard participants: $134,128 at end of 2023
- Median IRA balance across all ages: $88,400 in 2023 Fidelity Q2 data
- 58% of Americans have some retirement savings, EBRI 2023 Retirement Confidence Survey
- In Q4 2023, the U.S. personal saving rate was 3.7% of disposable personal income, down from 4.0% in Q3, according to the Bureau of Economic Analysis
- The annual personal saving rate for 2022 averaged 3.8%, a decline from 7.2% in 2021 amid rising inflation, per BEA data
- U.S. personal saving as a percentage of disposable personal income reached 4.1% in February 2024, BEA reports
- Median savings for Americans under 35 was $11,200 in 2022, Fed SCF by age
- Average retirement savings for ages 55-64 was $185,000 in 2022 SCF data
- Americans aged 65+ had median transaction accounts of $81,900 in 2022, Fed SCF
- Bottom 20% income households median savings: $400 in 2022 SCF
- Top 10% income families average transaction accounts: $250,000+, Fed SCF 2022
- Middle-income ($50k-$100k) median savings: $7,500, FDIC 2022 survey
Median savings rose to $5,300 in 2022 while saving rates stayed low, with big gaps across ages and incomes.
Related reading
01 · Category
Average/median Savings Balances24 stats
01
Median checking account balance for U.S. households was $2,800in 2022, up from $2,200 in 2019, Federal Reserve SCF
02
Average transaction account balance reached $42,000per family in 2022 SCF data
03
2022 median savings account balance for Americans was $5,300,FDIC survey
04
Average U.S. household liquid savings stood at $8,000in 2023, Bankrate survey of 1,000 adults
05
Median retirement savings for all families was $87,000in 2022, Fed SCF
06
As of 2023, average savings account balance was $11,200per U.S. saver, per Northwestern Mutual Planning
07
FDIC 2021 data shows median non-retirement savings at $5,400for insured households
08
Average high-yield savings account balance was $25,000in 2024 Q1, LendingTree analysis
09
U.S. median household savings balance was $8,000in 2023 Census-derived estimates
10
2022 average certificate of deposit balance per account holder was $14,500,NCUA data
11
Average savings account balance: $9,132in 2023 GOBankingRates survey
12
Median U.S. household wealth including savings: $192,700in 2022, Fed SCF
13
Median CD balance: $10,000for U.S. savers in 2023, Bankrate
14
Average money market account balance: $18,000in 2023, FDIC
15
Median savings for families: $8,000transaction accounts 2022 SCF
16
Average HYSA balance for savers: $22,500Q1 2024, LendingTree
17
Median savings account per banked household: $4,500FDIC 2023
18
Average U.S. savings per capita: $4,200annually 2022 BEA
19
Median household savings goal: $10,000emergency, Bankrate 2023 poll
20
Average savings for renters: $3,200vs homeowners $15,000, SCF 2022
21
Median savings for single-person households: $4,000FDIC 2022
22
Average savings app user balance: $12,000Acorns 2023
23
Median multi-family household savings: $6,800SCF 2022
24
Average savings for college grads: $15,000under 5 years post-grad, Sallie Mae 2023
02 · Category
Retirement Savings23 stats
01
Average 401(k) balance for Vanguard participants: $134,128at end of 2023
02
Median IRA balance across all ages: $88,400in 2023 Fidelity Q2 data
03
58% of Americans have some retirement savings, EBRI 2023 Retirement Confidence Survey
04
Average 401(k) contribution rate: 7.4% of salary in 2023, Vanguard How America Saves
05
Total U.S. retirement savings assets: $38.6 trillion as of Q4 2023, ICI Fact Book
06
45% of households aged 55-64 have no retirement savings, SCF 2022
07
Average Social Security replacement rate for retirees: 40% of pre-retirement income, SSA 2023
08
Fidelity average 401(k) balance for ages 60+: $232,700in Q2 2024
09
33% of workers have less than $50,000 saved for retirement, Transamerica 2023
10
U.S. 401(k) assets grew 15% to $7.5 trillion in 2023, ICI data
11
Average Roth IRA balance: $35,600in 2023 Fidelity data
12
401(k) median balance: $35,286Vanguard 2023
13
IRA assets total: $12.5 trillion Q4 2023, ICI
14
Average 403(b) balance: $45,000in 2023 TIAA data
15
Pension assets U.S.: $6.4 trillion Q4 2023, ICI Fact Book
16
Average defined contribution balance: $129,400Fidelity 2023
17
52% of Gen Z have retirement accounts, Schwab 2023
18
Total DC plan assets: $10.1 trillion Q4 2023 ICI
19
Average age of retirement account holder: 44 years, Vanguard 2023
20
401(k) loans outstanding: $100B in 2023, DOL data
21
Women’s average retirement savings: 30% less than men’s, $157k vs $226k, Fidelity 2023
22
HSA average balance: $3,500in 2023 Fidelity
23
Black Americans median retirement savings: $23,000vs white $79,000 SCF 2022
03 · Category
Savings Rates24 stats
01
In Q4 2023, the U.S. personal saving rate was 3.7% of disposable personal income, down from 4.0% in Q3, according to the Bureau of Economic Analysis
02
The annual personal saving rate for 2022 averaged 3.8%, a decline from 7.2% in 2021 amid rising inflation, per BEA data
03
U.S. personal saving as a percentage of disposable personal income reached 4.1% in February 2024, BEA reports
04
In 2023, the average monthly personal saving rate fluctuated between 3.5% and 5.0%, with a yearly average of 4.2%, from BEA
05
During the COVID-19 peak in April 2020, the U.S. saving rate spiked to 33.7%, the highest on record, BEA data
06
Q1 2024 U.S. personal saving rate was 3.6%, reflecting consumer spending growth, per BEA
07
From 2019 to 2023, the average annual saving rate dropped from 7.5% to 4.0%, BEA historical data
08
In December 2023, saving rate was 3.8%, BEA monthly release
09
U.S. households saved 4.5% of after-tax income in 2021, rebounding post-2020, per BEA NIPA tables
10
Saving rate for Q2 2023 was 4.2%, influenced by wage growth, BEA
11
In 2022 SCF, median retirement savings for families: $87,000
12
Personal saving rate dipped to 3.1% in January 2024, lowest in 2024 so far, BEA
13
Q3 2023 saving rate: 4.0%, BEA amid economic recovery
14
Saving rate Q4 2022: 4.1%, BEA year-end
15
U.S. personal saving rate averaged 3.8% in 2023 full year, BEA annual
16
March 2024 saving rate: 3.2%, BEA monthly
17
November 2023 saving rate: 4.8%, BEA holiday spending dip recovery
18
Q1 2023 saving rate: 4.8%, BEA early year
19
October 2023 saving rate: 3.9%, BEA
20
September 2023 saving rate: 3.7%, BEA pre-holidays
21
August 2023 saving rate: 3.5%, BEA summer low
22
July 2023 saving rate: 4.2%, BEA
23
June 2023 saving rate: 3.6%, BEA
24
May 2023 saving rate: 4.1%, BEA
Interpretation
Savings Rates Interpretation
The U.S. savings rate has stayed relatively low and mostly steady in the post pandemic period, hovering around 3.6% to 4.1% in recent quarters and months, after the extraordinary spike to 33.7% in April 2020.
More related reading
04 · Category
Savings By Age24 stats
01
Median savings for Americans under 35 was $11,200in 2022, Fed SCF by age
02
Average retirement savings for ages 55-64 was $185,000in 2022 SCF data
03
Americans aged 65+ had median transaction accounts of $81,900in 2022, Fed SCF
04
Under 35 year-olds median savings: $3,240in 2023 Vanguard study
05
Ages 35-44 average savings balance: $76,300per household, 2022 SCF
06
Retirees 65+ median IRA/401k balance: $200,000in 2023 Fidelity data
07
45-54 age group median non-retirement savings: $19,000,FDIC 2022
08
Young adults 18-24 median savings: $1,200in 2023 Bankrate poll
09
25-34 median retirement savings: $37,000,Empower 2024 report
10
Seniors 75+ average liquid savings: $112,000,SCF 2022 age breakdown
11
Ages 18-29 median retirement savings: $18,880,Fidelity 2023
12
30-39 age group average 401(k): $76,300,Empower 2024
13
Ages 40-49 median savings: $41,500,SCF 2022
14
50-59 age median retirement: $168,600,Fidelity Q2 2024
15
Ages 65-74 average savings: $410,000retirement, Empower 2024
16
Under 30 median total savings: $5,400,Bankrate 2024 age poll
17
35-44 median emergency fund: $8,000,Northwestern Mutual 2023
18
Ages 55-64 median savings: $185,000SCF 2022
19
60+ median IRA: $250,000Fidelity Q2 2024
20
25-34 average total savings: $20,500,GOBankingRates 2023
21
Ages 45-54 average retirement: $245,000,Fidelity 2023
22
18-24 median savings: $500,Census youth finance 2023
23
40-49 median 401(k): $93,400Vanguard 2023
24
Ages 30-39 median total assets: $49,000SCF 2022
Interpretation
Savings By Age Interpretation
The data show a sharp age gap in Americans’ savings, with under 35 people holding median savings of $11,200 in 2022 compared with older age groups reaching hundreds of thousands in retirement accounts, such as $185,000 for ages 55 to 64 and $200,000 for retirees 65 plus.
05 · Category
Savings By Income24 stats
01
Bottom 20% income households median savings: $400 in 2022 SCF
02
Top 10% income families average transaction accounts: $250,000+, Fed SCF 2022
03
Middle-income ($50k-$100k) median savings: $7,500, FDIC 2022 survey
04
Households earning $100k+ average retirement savings: $300,000 in 2023, Northwestern Mutual
05
Low-income (<$25k) median liquid savings: $900, 2022 SCF income quintiles
06
Upper-middle income ($150k+) median total savings: $120,000, Census 2023 wealth data
07
$25k-$50k income bracket average savings account: $2,100, Bankrate 2024
08
High earners $200k+ median 401k: $500,000, Vanguard 2023
09
Lower-middle income median emergency fund: $1,000,LendingTree 2023
10
Top quintile average savings rate: 12.5% of income, BEA adjusted data 2022
11
Households $75k-$100k income median savings: $10,000, Bankrate 2023
12
Bottom 40% income no retirement savings: 56%, SCF 2022
13
$150k-$200k income average emergency savings: $25,000, LendingTree
14
High-income top 20% average savings: $300,000+, SCF 2022
15
Middle 60% income median liquid assets: $15,000, SCF 2022
16
$50k-$75k income households average savings: $6,200, FDIC 2022
17
Low-income < $30k median retirement: $0, Vanguard 2023
18
Upper income $250k+ average 401k: $1.2M, Empower 2024
19
Income $100k-$150k median savings: $20,500, LendingTree 2023
20
Middle-income savings rate: 5.2%, BLS consumer expenditure 2022
21
Low-middle income $40k-$60k median emergency: $2,500, Bankrate
22
Top earners savings participation: 95%, SCF 2022
23
Income quintile 3 median savings: $12,000,FDIC 2023
24
$200k+ income average liquid savings: $150,000, Northwestern 2023
Interpretation
Savings By Income Interpretation
Across Savings By Income groups, the gap is stark, with bottom 20 percent households holding just $400 in 2022 while upper middle income households reach $120,000 in median total savings in Census 2023, showing wealth savings rise dramatically as income increases.
report visual · Projection
U.S. personal saving rate trend
The U.S. personal saving rate has generally trended down from the high levels seen during the COVID-19 peak, settling into a lower range more recently.
33.7 Percent of disposable personal income
Start
-42.83%
CAGR · 4y
3.6 Percent of disposable personal income
Projected
20202024
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Karl Becker. (2026, February 13). Americans Savings Statistics. Gitnux. https://gitnux.org/americans-savings-statistics
MLA
Karl Becker. "Americans Savings Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/americans-savings-statistics.
Chicago
Karl Becker. 2026. "Americans Savings Statistics." Gitnux. https://gitnux.org/americans-savings-statistics.
Sources & references
24 datasets cited across this report · attribution is report-level