Saving more is on everyone’s minds at this time of year. But how do you compare to your peers?
According to data published by MarketWatch, how much does the average 45-54 year old American have in savings – not including retirement funds?
Ready for the answer?
The average savings (sans retirement funds) for a 45-54-year-old sits at $48,200, with a median savings of $5,620. What’s with the huge disparity in these numbers?
The answer likely lies in the vast wealth inequity in America, as well as the fact that compounding money you already have is much easier than gaining new money. Wherever you land on the scale, it’s important to know that your job doesn’t stop at just saving money – you also need to focus on growing and protecting those funds.