20+ Shocking American Savings Statistics [2026]: Average Personal Savings Accounts, Demographics, And Facts

Research Summary: In 2026, many Americans continue to grapple with the challenge of saving money, whether they are homeowners, renters, or living with family. The burden of debt remains prevalent, making it difficult for individuals to build their savings and secure their financial futures.

So, what is the current state of American savings? Our comprehensive research reveals the following key insights:

• 42% of Americans have less than $1,000 in savings as of 2025.

• The average American savings account balance is $4,500.

• From 1959 to 2025, the average U.S. savings rate has been 8.96%.

• The average household savings rate in the U.S. stood at only 5.1% in the last half of 2025.

• Overall, gross personal savings in the U.S. is valued at $2.3 trillion.

For a deeper analysis, we have categorized the data into several sections:
Trends and Projections | Emergency Funds | Demographics | Retirement Savings

General American Savings Statistics

Saving money remains an uphill battle for many Americans. Here are some general insights into the broader state of American savings:

• The average American household savings is $41,600.

  This figure is skewed by a small group with significantly higher savings; the median household savings is only a modest $5,300.

• 10% of Americans have no savings.

  This represents approximately 25 million American adults without any savings. The situation has worsened recently, with many expressing that their financial health has declined compared to pre-pandemic times.

• 58% of Americans have less than $5,000 in savings.

  Specifically, 42% have less than $1,000, while 20% report savings exceeding $50,000, highlighting a significant wealth divide.

  Average savings amount	Share of Americans
  Less than $1,000	42%
  $1,000-$5,000	16%
  $5,000-$10,000	9%
  $10,000-$25,000	8%
  $25,000-$50,000	5%
  $50,000+	20%

• 71% of Americans have a savings account.

  This indicates that nearly a third of Americans do not have a savings account; moreover, most account holders maintain balances below $5,000.

American Savings Trends and Projections

American savings accounts have seen fluctuations in recent years. As we approach 2026, the trends reveal critical insights:

• As of June 2025, the household savings rate in the U.S. is 5.1%.

  This rate has fluctuated between 5% and 5.5%, significantly lower than the average of 16.3% in 2020 and 11.9% in 2021.

• In 2020, the household savings rate peaked at the highest level seen in over 60 years.

  With a peak of 16.3% in 2020, this rate far surpassed previous highs, reflecting a unique moment in economic history.

  Year	Average savings rate for U.S. households
  2007	3.6%
  2008	6.4%
  2009	5.9%
  2010	7.1%
  2011	7.8%
  2012	12%
  2013	6.4%
  2014	7.7%
  2015	7.4%
  2016	6.3%
  2017	6.7%
  2018	8.8%
  2019	7.6%
  2020	16.3%
  2021	11.9%

• Since 2007, gross U.S. savings has increased over 5X.

  In 2007, gross savings were $353 billion, and by 2025, this amount has surged to at least $2.3 trillion.

  Year	Gross U.S. savings
  2007	$353B
  2008	$503B
  2009	$640B
  2010	$709B
  2011	$806B
  2012	$1.07T
  2013	$766B
  2014	$931B
  2015	$1.03T
  2016	$988B
  2017	$1.07T
  2018	$1.19T
  2019	$1.24T
  2020	$2.89T
  2021	$2.27T

American Savings Statistics by Emergency Funds

The ability to handle emergencies is a critical reason to save. Unfortunately, many Americans lack sufficient savings, leading to potential financial crises during emergencies. Our findings include:

• The average emergency costs more than $1,000.

  For instance, medical emergencies in the U.S. can range from $1,000 to $1,999, leaving nearly half of Americans unable to afford such expenses.

• Only 28% of Americans could survive three months on their emergency savings.

  A quarter (26%) of those with savings doubt their ability to last three months on their current savings.

• 49% of Americans would struggle to cover a $400 emergency expense today.

  This statistic highlights the fragility of financial security for many households, where even minor unexpected costs can lead to significant stress.

American Savings Statistics by Demographics

Various demographics have distinct savings behaviors. Recent research shows:

• 50% of women have no retirement savings by ages 55-66.

  This is slightly lower than the 47% of men in the same age range without retirement savings, indicating that women face greater challenges in building retirement funds.

• 62% of American women have less than $1,000 in savings.

  Women are 17% more likely than men to have such low savings, underscoring the importance of financial literacy and planning for women.

• Americans under 35 only have an average of $3,240 in savings.

  In contrast, those aged 55-64 maintain an average of $6,400, revealing a trend of increasing savings with age.

  Age	Median balance of accounts
  Younger than 35	$3,240
  35-44	$4,710
  45-54	$5,620
  55-64	$6,400
  65-74	$8,000
  75+	$9,300

American Savings Statistics by Retirement Savings

Saving for retirement is crucial, especially for older generations. The following statistics highlight the state of retirement savings:

• 13% of Americans over 60 have no retirement savings.

  This figure is particularly alarming for younger demographics, as 42% of individuals aged 18-29 report having no retirement savings.

  Age	Share of those without retirement savings
  18-29	42%
  30-44	26%
  45-59	17%
  60+	13%

• 21% of Americans don’t save any of their annual income.

  Many Americans lack a long-term savings strategy, with 69% saving less than 10% of their annual income.

  Percentage of annual income saved	Share of Americans
  None	21%
  Less than 5%	20%
  6-10%	28%
  11-15%	10%
  More than 15%	16%

American Savings Statistics FAQ

1. How much does the average American have in savings?

   The average American has only $4,500 in savings. However, this figure doesn’t reflect that 42% of Americans have less than $1,000 in savings, and 49% would struggle to cover a $400 emergency expense if it arose.

2. How much does the average 35-year-old have in savings?

   The average 35-year-old in the U.S. has saved $13,000. This figure may be skewed by high savers, with the median savings for those aged 35-44 being $4,710.

3. What is the 50-30-20 budget rule?

   The 50-30-20 budget rule allocates 50% of income to needs, 30% to wants, and 20% to savings. Adopting this strategy can significantly enhance savings, as only 16% of Americans save over 15% of their annual income.

   For instance, if you earn $50,000 annually, this plan enables you to save $10,000 each year.

4. Are Americans saving more or less?

   Americans saved significantly less than average in 2025, continuing a trend from previous years. The average annual savings rate since 1959 is 8.96%, but households only achieved a rate of 5.1% in 2025.

   Several factors have contributed to this decline in savings, including:

   • Inflation driving up living costs

   • Lingering effects of job instability and career transitions

   • Stagnant wages relative to rising expenses

   • Increased spending on travel and experiences as restrictions have eased

Conclusion

Saving money is a critical step toward achieving financial goals, yet many Americans face significant challenges. Currently, 42% of Americans have less than $1,000 in savings, and 49% are unable to cover a $400 emergency expense.

These trends hinder retirement preparedness, with 13% of those over 60 lacking any retirement savings. The ongoing economic pressures, including rising inflation and persistent debt, exacerbate savings difficulties.

To improve financial health, consider implementing a robust savings plan, exploring job opportunities, or focusing on debt reduction strategies. Simple budgeting methods like the 50-30-20 rule can significantly enhance savings discipline and financial security.

References

1. The Motley Fool. “The Percentage of Americans With Less Than $1,000 in Savings Is Shocking.” Accessed on August 8th, 2022.

2. Statista. “Value of personal savings in the United States from 1960 to 2021.” Accessed on August 8th, 2022.

3. BEA. “Personal Saving Rate.” Accessed on August 8th, 2022.

4. ValuePenguin. “Average U.S. Savings Account Balance: A Demographic Breakdown.” Accessed on August 8th, 2022.

5. TheStreet. “More Than A Third Of Americans Have Less Savings Than Ever Before.” Accessed on August 8th, 2022.

6. Statista. “Personal saving rate in the United States from 1960 to 2021.” Accessed on August 8th, 2022.

7. FRB. “Economic Well-Being of U.S. Households in 2020 – May 2021.” Accessed on August 8th, 2022.

8. CNBC. “Over half of Americans have less than 3 months worth of emergency savings.” Accessed on August 8th, 2022.

9. The Ascent. “49% of Americans Couldn’t Cover a $400 Emergency Expense Today, Up From 32% in November.” Accessed on August 8th, 2022.

10. Census. “Those Who Married Once More Likely Than Others to Have Retirement Savings.” Accessed on August 8th, 2022.

11. Yahoo. “58% of Americans Have Less Than $1,000 in Savings, Survey Finds.” Accessed on August 8th, 2022.

12. FirstRepublic. “A Look at the Average American’s Savings.” Accessed on August 8th, 2022.

13. Statista. “Share of adults without retirement savings in the United States as of January 2020, by age group.” Accessed on August 8th, 2022.

14. CNBC. “Here’s how many working Americans aren’t saving any money for retirement or emergencies at all.” Accessed on August 8th, 2022.

Author

Jack Flynn

Jack Flynn is a writer for Zippia. In his professional career he’s written over 100 research papers, articles and blog posts. Some of his most popular published works include his writing about economic terms and research into job classifications. Jack received his BS from Hampshire College.