Question: How Much Savings Should A 30 Year Old Have?

Financial services company Fidelity recommends having the equivalent of your annual salary saved.

That means if you earn $50,000 per year, by your 30th birthday, you should have $50,000 socked away.

How much does the average 30 year old have saved?

The typical 25- to 34-year-old spends $4,705 each month on both essential and nonessential expenses, according to the 2018 Consumer Expenditure Survey, so the average 30-year-old should have $14,115 to $28,230 tucked away in accessible savings.

How much does the average person have in savings?

The average American household has $175,510 in savings as of June 2018. That may sound like a lot, but an average can’t tell the whole story, since millions of families have nothing put away at all while others manage to be super-savers. Indeed, as it turns out, the median American household has only $11,700.

How much should I have in savings at 25?

The quick answer to how much you should have saved by age 25 is roughly 0.5X your annual expenses. In other words, if you spend $50,000 a year, you should have at least $15,000 – $25,000 in savings with minimal debt. Your ultimate goal is to achieve a 20X expense coverage ratio in order to retire comfortably.

How much does the average 30 year old have saved UK?

How do your savings shape up?

AgeAnnual income needed in retirementAmount needed by 2019
30£19,000£51,434
31£19,000£58,782
32£19,000£66,129
33£19,000£73,477

38 more rows