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How much money does the average american family have saved up?

Discussion in 'Pre-Medical - MD' started by uclaussr, Jun 30, 2011.

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  1. uclaussr

    uclaussr Banned 2+ Year Member

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    May 28, 2009
    Hills of Westwood
    Just curious, i know there are numbers for average salary, but how much does the typical middle age American family have saved up? Or are we a country of loans?
     
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  3. patel2

    patel2 Banned Banned 5+ Year Member

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    May 21, 2010
    idk typically $3.50
     
  4. CodeBlu

    CodeBlu Van Wilder Lifetime Donor 7+ Year Member

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    Did we turn SDN into a financial forum? Really?
     
  5. Median or average? I'd say the middle class is extremely diverse with savings and debt between credit cards and retirement savings (if existent). A well off upper mid class family can have a pretty penny in stocks/bonds/mutual funds, etc.
     
  6. Cypher321

    Cypher321 Board of Parks & Tourism 2+ Year Member

    Tree Fiddy?
     
  7. SissyAlice

    SissyAlice

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    $2000 in the bank

    -$7,500 in credit cards

    -$200,000 mortgage

    -$14,000 car

    -$20,000 student loans

    -$10,000 misc

    Totally random numbers :p

    I have about 1.5k in the bank right now and my car is paid off probably worth $13k.... -$30k in student loans? :laugh:
     
  8. MeatTornado

    MeatTornado On Sabbatical 7+ Year Member

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  9. ipodtouch

    ipodtouch 7+ Year Member

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    I think something around the lines of -$80,000
     
  10. Drrrrrr. Celty

    Drrrrrr. Celty Osteo Dullahan 7+ Year Member

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  11. pkwraith

    pkwraith 5+ Year Member

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    It's actually quite surprising how many people you know actually aren't saving. I was talking to my father the other day, and found out that my parents had maybe $2000 in a savings account. They do have a house and 401k, but still, that really surprised me.
     
  12. StudyShy

    StudyShy XOXO 10+ Year Member

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    It's hard to save.
     
  13. eli20

    eli20 5+ Year Member

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  14. Elpenor

    Elpenor 5+ Year Member

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    <500 dollars
     
  15. CaliGirl14

    CaliGirl14 No worries. 5+ Year Member

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    I've got 2k saved! I feel special :D
     
    Last edited: Jul 1, 2011
  16. Narmerguy

    Narmerguy Moderator Emeritus 7+ Year Member

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    Yep. Especially hard to save and live the american dream too.
     
  17. CaliGirl14

    CaliGirl14 No worries. 5+ Year Member

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    It's hard to save when everyone around you is spending :oops:
     
  18. circulus vitios

    circulus vitios 7+ Year Member

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    I found a few articles from various news websites saying ~$4k, but who knows how accurate that is. I found another article on BLS.gov that compares retirement savings of baby boomers to other groups. http://www.bls.gov/opub/cwc/cm20050114ar01p1.htm

    http://www.bls.gov/opub/cwc/tables/cm20050114ar01t3.htm

    :eek:
     
  19. Web MD

    Web MD Doctor of the Internets 5+ Year Member

    These numbers are skewed because they refuse to include the Americans who keep their savings in the form of gold
     
  20. IlDestriero

    IlDestriero Ether Man 7+ Year Member

    Yeah, because most people have a shoebox of gold coins in the safe deposit box. Most people don't even have an emergency account, unless you, like them, think enough for a couple new tires and an oil change will cover it. Grandma's 20 silver dollars too, if things get really bad.:rolleyes:
     
  21. SissyAlice

    SissyAlice

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    Bleh, my immigrant grandparents kept $50k in their house because they didn't trust banks... Ended up getting stolen by a relative :rolleyes:
     

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