Dabbs, Hickman, Hill & Cannon, LLP logo

Dabbs, Hickman, Hill & Cannon, LLP

 

319 South Main Street, PO Box 727

Statesboro, GA 30459

Phone: 912-764-6951

 

325 Tattnall Street

Savannah, GA 31401

Phone: 912-233-9004

March 2022

Are You Above Average?

Are You Above Average

Here's a snapshot of the average U.S. household's finances. See how your finances compare.


  • Gross Household Income: $87,864

  • Checking Account Balance: $10,618

  • Monthly Spending: $5,102

  • Household Debt: $145,000

  • Social Security Monthly Retirement Benefit: $1,514

  • Credit Card Debt: $6,194

  • FICO® Score: 711

  • Savings Rate: $13.7%


Average 401(k) Balance: $106,478


BY AGE GROUP:

  • Under 25: $5,419

  • 25-34: $26,839

  • 35-44: $72,578

  • 45-54 $135,777

  • 55-64: $197,322

  • 65+: $216,720


Average Retirement Savings: $407,490


BY GENERATION:

  • Gen Z $35,197

  • Millennials: $166,430

  • Gen X: $568,750

  • Baby Boomers: $1,029,840


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