Sixty-two percent of Americans have less than $1,000 in savings, according to a survey conducted by GOBankingRates.com. To make matters worse, 21 percent of the country has no savings accounts to speak of (not including retirment accounts).
When the results are broken down by age, Generation Xers fare the worst, with 31 percent having no savings at all, and only 16 percent having $10,000 or more. This is pretty depressing, considering their age range (35 to 54).
Not surprisingly, people who make more money tend to have more savings:
People earning $75,000 or more, however, are more likely to have more than $1,000 in their savings, and those earning at least $100,000 report having $10,000 or more in savings more than any other income group. While 27.7 percent of people earning more than $100,000 and 18.9 percent of people earning $75,000 to $99,999 report savings account balances of at least $10,000, about 20 percent of every income group earning less than $100,000 report having no savings.
To see all the data, including a breakdown by sex, click here.