As America continues to pull itself out of the remnants of the 2008 Recession, the average citizen’s finances are still in a slow recovery. Despite economic uncertainty, Americans still expect that idyllic dream of a comfortable retirement where decades of work finally leads to a satisfying pay-off. However, attaining that precious retirement requires a lifetime of financial dedication and longterm thinking.
The state of savings and financial security in America is a complex and fractured picture, filled with astonishment, anxiety, and glimmers of hope. Savings statistics serve to reflect not only the state of our economy, but the various ways in which average citizens interpret and internalize the financial sector. Looking at seemingly boring signifiers like bank account balances, personal savings rates, and 401(k) contributions provides a deeper look at the stratification of American society and our ability to withstand another economic downturn.
Here are 30 average American savings statistics that are sure to shock and surprise, or at the very least provide an interesting and nuanced picture of the state of our economy.