How much does the average person have in their bank account?

How much does the average person have in their bank account?
The median and average bank account balance in the U.S.

Year
Median bank account balance
Average bank account balance*

2019
$5,300
$41,600

2016
$4,790
$42,580

2013
$4,500
$39,690

2010
$4,120
$38,000

The median and average bank account balance in the U.S.
Year Median bank account balance Average bank account balance*
2019 $5,300 $41,600
2016 $4,790 $42,580
2013 $4,500 $39,690
2010 $4,120 $38,000

How much does the average 70 year old have in savings?

According to data from the Federal Reserve, the average amount of retirement savings for 65- to 74-year-olds is just north of $426,000.

How much do millionaires keep in their checking account?

Millionaires bank differently than the rest of us. Any bank accounts they have are handled by a private banker who probably also manages their wealth. There is no standing in line at the teller’s window. Studies indicate that millionaires may have, on average, as much as 25% of their money in cash.

What is a good amount to have in savings?

Standard financial advice says you should aim for three to six months’ worth of essential expenses, kept in some combination of high-yield savings accounts and shorter-term CDs.

How much does the average person have in their bank account? – Related Questions

How much money do I need to retire at 62?

How Much Retirement Income Can I Receive At 62?
Current Age Income At 62
50 $122,709
55 $98,103
60 $73,663
62 $63,500