I am 23 year old from India with bank balance of approx 5k USD savings, How much yall Americans have in your savings account?

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Neat-Caterpillar-375@reddit (OP)

I asked cuz I live in a poor country india and have 5k usd savings. So I just wanna know How much people in the number 1 country in the world saves

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GhostOfJamesStrang@reddit

To what end? What is the goal? What do you actually want to know?

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Decent_Concern8751@reddit

The goal is he’s curious and thats the point of this place

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GhostOfJamesStrang@reddit

I don't think curiosity is the reason.

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Decent_Concern8751@reddit

To be clear you can go on any personal finance sub and it’s nothing but people posting their net worth

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Delete the post!!! t’s disrespectful to ask about someone’s bank balance. The question is also poorly framed. A better approach would be to ask how Americans manage their savings or finances in general.

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NoDoOversInLife@reddit

No one is going to tell you. It's rude to ask about a person's finances. If someone wants you to know, they will volunteer that info, unsolicited. Much like you're doing 🙄🤦🏻‍♂️

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Carnut338@reddit

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.

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1nfam0us@reddit

5k USD is more than most Americans have in savings. Most Americans would have to go into debt to make an emergency payment of less than 1k.

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off2u4ea@reddit

This is very dependant on where you live and your living situation. Someone living in New York City or Sothern California would need at least that, and 10X that if they owned a house or had kids. Someone renting a house with a roommate in rural West Virginia, could probably get by with 2k as an emergency fund.

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donner_dinner_party@reddit

8675309

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Quirky-Invite7664@reddit

That’s considered a rude question in America.

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TheNorthC@reddit

He's asking on an anonymous forum FFS.

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GhostOfJamesStrang@reddit

That doesn't make it not rude.

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TheNorthC@reddit

You can literally Google what savings the typical US adult has from surveys. These questions get asked and answered.

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SkyOperationA320@reddit

Yeah, also pretty sure this could be rude almost anywhere.

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Oscar-mondaca@reddit

Nice try feds

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ErikaNaumann@reddit

Also, what is your card number and security code?

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Quirky-Invite7664@reddit

And home address. For educational purposes only.

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Traditional-Let9530@reddit

It varies a lot, plenty of people your age have little to nothing saved while some have more, so comparing numbers across countries and lifestyles doesn’t really mean much.

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Quirky-Invite7664@reddit

Also HCOLA vs LCOLA. And age makes a difference.

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Express-Stop7830@reddit

OP, when I was in India, I found that people asked questions that are considered very rude in the USA. And it was also off putting that questions were asked to figure out where I fit into the hierarchy on a very exact rating scale.

Do not ask Americans about their savings or how much they make. (Or their parents status, profession, etc. or brag about how many degrees you have and then ask how many the other has.) You will be met with the backlash you see here.

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TehWildMan_@reddit

I don't keep a separate savings account, I keep spare cash in a taxable brokerage account, mostly in mixed (index tracking) equity funds.

Of that portion that's not already committed in retirement accounts, I'm currently at about 200k at age 30. Saving up for a house eventually. (LOL at current market conditions)

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Decent_Concern8751@reddit

You don’t have an emergency fund in a HYSA?

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TehWildMan_@reddit

I play it a bit dangerous and keep everything in the stock market, other than a few long term bonds that offset my student loan balances.

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SouthernGentATL@reddit

Seriously? You think someone will tell you that?

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Decent_Concern8751@reddit

Different cultures have different norms about disclosures. But honestly the odds you have enough for anyone to care is tiny. Is this guy a scammer trying to find someone dumb? Maybe

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SouthernGentATL@reddit

Ok cool. I’ll tell him just as soon as the money that Nigerian Prince is transferring after I gave him all my banking info arrives. Let me just say…it’s big money!

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