If it wasn't obvious, this was my creation.

you know, I've been searching for a bit, and I can't find an average savings account balance number, anywhere. Anyone with better luck?

I doubt you'll find much. When we talked about this before it was about net worth, which is where I've seen the most info. I guess you could look at savings rate, but I think that even includes 401(k)s.

Also, I'd like to point out this comment. O'Doyle rules.

the thing is though, people have been saying that we haven't been saving enough probably since the 80's. I remember going to a seminar (I think it was jeffrey sachs) and he was saying that stuff in 1997. In terms of capital for industry, America doesn't need its workers to invest in industry because plenty of foreigners are more than happy to do it for us. thus, we should still have a good supply of jobs in those things that americans do comparatively well in. that said, brian is right. people aren't saving. people are leaving little room for error. but, even for people who are using only their home as saving, can cause a problem. It's hard to sell part of a house. and lord knows what will happen if that bubble bursts any time soon.

--jm August 3, 2005 10:08:45 AM

we are savants

are we counting non-retirement investments or no? those are easy to turn into money, though the amount can fluctuate.

well, I counted non IRA investment. anything that's more or less liquid, i.e you can get without filling out forms and such.

Do you mean total, or just what's in the account today?

good point bean. anyone who currently is without a job would have a lower number than a year ago. or if your wife stayed home to be a mother after having your son and you haven't really adjusted your spending to that yet. not that i'm calling anyone out or anything

Or bought a house and depleted their savings to make a down payment, etc.

I'm not sure this is a great gauge of financial health unless you're planning to make a run for it.

I guess I meant balance. Maybe the poll isn't well put. I guess what I was getting at is how much people have lying around in liquid form i.e. almost like an emergency fund, though not quite. I specifically wanted housing out of it. Maybe a better question would be average % of salary saved per year or something like that. I really just wanted to know if am I saving at a pace that is reasonable against my peers, not national averages (which don't seem to exist, or are on the whole, negative). Not surprisingly we are all over the place due to kids, et al.

i attempt to save 10%. it was easier when Karen worked. It has become much harder since she stopped. But my savings was both a savings and an emergency fund, which looking back on it, should have probably been split into two different accounts.