Average Bank Account Balance, by Age, Household, & Education

Wednesday, June 10, 2026

Median bank account balances in the U.S. range from $5,400 for those under 35 to $13,400 for ages 65"74, according to Federal Reserve data. Couples -- with and without kids -- report higher median savings than single households. College-educated households have the highest bank balances.

Posted by lamplighter at 01:26 PM | 5 COMMENTS | permalink | Comment on This Entry |

Alternate links: Google News | Twitter

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

More from the article ...

... According to the Fed's Survey of Consumer Finances, the amount held in bank accounts across all American households in 2022 (the most recent data available) was $8,000.1 This amount is in transaction accounts, which include checking, savings, money market, and brokerage cash accounts, as well as prepaid debit cards. (Certificates of deposit and retirement accounts are not part of this grouping.)

But that $8,000 figure only tells part of the story. Median balances vary widely by age, household type, and education. ...

#1 | Posted by LampLighter at 2026-06-10 01:27 PM | Reply

Welp. Looks like a college degree still pays.

#2 | Posted by jpw at 2026-06-10 01:36 PM | Reply

I don't believe that chart and it's article are correct.

Consider the 2008 stock market crash - the Fed's chart doesn't display that negative impact on 75 and older. Something stinks.

Also, the article claims that:

No High School Diploma $900
High School Diploma $3,030
Some College $5,200
College Degree $23,370

We heard it repeated throughout Covid that people had less than $400 in their savings. How has that more than doubled despite DOGE, inflation, tarrifs and decreasing wages?

#3 | Posted by redlightrobot at 2026-06-10 02:05 PM | Reply

The $900 is more than just savings.

"The average balances shown include checking, savings, money market, and brokerage cash accounts, as well as prepaid debit cards."

#4 | Posted by snoofy at 2026-06-10 02:12 PM | Reply

Yes, but Billionaires were able to pay for additional yachts and jets from the Big Ugly Bill, and writing off their uses has never been better!

To top it off, doing this on the backs of the poor and middle class is just icing on the tax cake.

Trumpers thinks this is 'Murica!

#5 | Posted by Corky at 2026-06-10 02:24 PM | Reply