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 10:33 PM | 12 COMMENTS | permalink | Comment on This Entry |

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Kevin Hassert seems rosy about the future--which is relatively easy when you have stock holdings and retirement savings and aren't, like most Americans, just trying to cover the bills.

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-- Mother Jones (@motherjones.com) 5:26 PM Â· May 31, 2026

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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

"throughout Covid that people had less than $400 in their savings."

That $400 is more like $525 now.

Wow, that was a good guess. CPI puts it at $522.84 from April 2020 to their latest, May 2026. www.bls.gov

I miss my fake money Bank of America ATM card with $16,500 unemployment insurance claims payments on it. Those were the days!

Realistically, Trump showed us during pandemic that UBI will keep the economy afloat when the ---- hits the fan, which is where Trump is taking the economy, on purpose this time.

#6 | Posted by snoofy at 2026-06-10 10:50 PM | Reply

We heard it repeated throughout Covid that people had less than $400 in their savings.

I thought it was they couldn't afford a $400 surprise bill like a medical bill or something along those lines.

I could easily see having $900 in your accounts (total) and being unable to afford a $400 surprise bill.

#7 | Posted by jpw at 2026-06-11 01:26 AM | Reply

I am an old man living in low income senior and disabled HUD financed housing...and if one listed one's saving and safety net according to how long their savings would keep them alive and off street corners begging for food...poverty, the bottom of the economic pyramid is as prevalent here in the US as it is in many other countries, but in other countries there are low cost ways to live, in American cities...rents have gone insane. And one wonders if when push comes to shove, SS will actually be propped up or allowed to fall by a third or so, in less than ten years.
But then, politics is about those who live in the clouds.
Though, living in a blue city in a blue state, one has hopes that leaders are listening and caring. Red states now...

#8 | Posted by Hughmass at 2026-06-11 06:37 AM | Reply

I'm doing better than average, yay

#9 | Posted by hamburglar at 2026-06-11 06:58 AM | Reply

43% of Americans 55-64 have no retirement savings.

SS will actually be propped up

Mike Johnson has admitted that part of next years legislative agenda is cutting social security and medicare.

#10 | Posted by Nixon at 2026-06-11 10:49 AM | Reply

Well, I only have about $1599.00 in a credit union, but then again, my investment account is another matter ; )

#11 | Posted by MSgt at 2026-06-11 01:35 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 | FLAG: Guess what, regales of how much another makes or has, [even billionaires] is a 'zero factor' on how much you earn of have in the bank.

Also another thing to consider and that is many businesses plus their blue collar, and white collar workers have an income [are employed] because they are building those yachts and aircraft for the wealthy.

Further information for you to consider:
AI Overview The Jimmy Carter administration's attempt to tax yachts and end luxury expense write-offs failed because it ultimately created massive unintended job losses in the American marine industry.

#12 | Posted by MSgt at 2026-06-11 01:42 PM | Reply