How Much Cash Americans Really Have in the Bank

Median bank account balances in the U.S. reveal stark disparities across demographics. Federal Reserve data shows $5,400 for under-35s versus $13,400 for ages 65-74. Household structure and education create further stratification—college-educated families and couples maintain significantly higher reserves than single households.

The $8,000 median transaction account balance obscures these granular realities. Transaction accounts encompass checking, savings, and money market holdings, excluding CDs or retirement vehicles. This snapshot underscores the limitations of aggregate figures in capturing financial health.

For those seeking to accelerate savings growth, high-yield accounts and CDs present viable options. The Fed's Survey of Consumer Finances serves as both benchmark and wake-up call for households evaluating their liquidity positions.