This chart shows how much money Americans have in savings at every age via CNBCMakeIt
The typical American household has an average of $8,863 in an account at a bank or credit union, according to a recent report from Bankrate that analyzed inflation-adjusted data from the Federal Reserve. That's purely in liquid savings, so it doesn't include retirement funds or other investments.Among those 34 and younger, couples without children have the most put away: They have an average of $4,727 in savings.
"Here's the thing with emergency money: More is always better," best-selling author and co-founder of AE Wealth Management David Bach tells CNBC Make It."You hear all the time experts say, you should have three months of expenses set side. Well, it depends. In the recession, when people lost their jobs, three months of expenses set aside wasn't enough."
Meanwhile, other research has found that 60 percent of millennials don't have enough money to cover a $1,000 emergency.
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