American Family Financial Statistics
Statistic Verification
Source: Federal Reserve, US Census Bureau, Internal Revenue Service
Research Date: August 12th, 2015

Questions: statistics on american household financials ? how much does the average american family have in savings ? what percent of american's have no retirement savings ?

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American Family Financial StatisticsData
Average American family savings account balance$3,950
Percent of working Americans who are not saving for retirement40 %
Percent of American families who have no savings at all25 %
Average amount saved for retirement$35,000
Average American household debt$117,951
Average American family home value$160,000
Average amount owed on home mortgage$95,000
Average American household annual income$43,000
Average credit card debt$2,200
Percent of American workers who postponed their retirement age this year24 %
Percent surveyed who are very confident about having enough money for retirement18 %
Percent of American adults who do not have a bank account7.7 %
Percent of American adults who have an emergency fund to fall back on38 %

Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a check). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and therefore often does not incur a reserve requirement freeing up cash from the bank's vault to be lent out with interest.

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