Question of the Day (Updated): What is the median savings account balance for Americans under 35?

|
May 17, 2020
|
Question of the Day, Savings, Research

Answer: $1,000

Questions:

  • Explain why the the median savings for each age group is lower than the average savings by age as indicated in the article?
  • What is the relationship between age and savings accounts balances? Explain why you think the relationship exists. 
  • How much will you need to have in a savings account to feel secure (sleep well at night)?

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (from 2019 NerdWallet Survey):

-------------------

Help your students set savings goals with this NGPF Activity, CREATE: Your Savings Goals. 

About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.