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How much Americans save at every age: How do you compare?

GOBankingRates Logo By Joel Anderson of GOBankingRates | Slide 1 of 10: Saving is not a competition, and everyone’s needs are going to be different. Still, using the relative progress of your peers in the same age group can be one way to gauge whether you’re putting away enough money. After all, if you’re saving significantly less than most of the rest of the people at a similar point in their lives, it’s definitely worth at least reconsidering the rate at which you’re saving. That’s why the different responses by age group in a recent survey from GOBankingRates are especially interesting. The survey polled over 5,000 Americans about their saving habits and how much they had socked away in a savings account. The results are illuminating and shine a light on the average savings by age across America.

How much Americans save at every age: How do you compare?

Saving is not a competition, and everyone’s needs are going to be different. Still, using the relative progress of your peers in the same age group can be one way to gauge whether you’re putting away enough money. After all, if you’re saving significantly less than most of the rest of the people at a similar point in their lives, it’s definitely worth at least reconsidering the rate at which you’re saving.

That’s why the different responses by age group in a recent survey from GOBankingRates are especially interesting. The survey polled over 5,000 Americans about their saving habits and how much they had socked away in a savings account. The results are illuminating and shine a light on the average savings by age across America.

 

© milanvirijevic / Getty Images

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