Did you ever wonder where you fall financially among the masses? The Motley Fool put out a list of how much the average American earns, owes, and saves. Here is a snapshot:
1. The average American gross household income is $71,258.
2. The average American household with debt owes $132,529.
3. The average American gave $5,491 to charity in 2015.
4. The average American has a FICO credit score of 700.
5. The average American’s 401(k) balance is $96,288.
6. The average personal savings rate in the U.S. is 5.5%.
7. Only 18% of Americans actively contribute to an IRA.
8. The average American’s tax refund in 2016 was $2,860.
9. The average American pays an effective federal income tax rate of 13.5%.
10. The average American’s Social Security retirement benefit is $1,363 per month.
There’s more to read about each of these interesting statistics in the full article on The Motley Fool’s website fool.com.
Credit to The Motley Fool (fool.com)
10 Incredible Financial Statistics That Sum Up the Average American
Here’s an overview of how much money Americans make, owe, and save.
By Matthew Frankel, March 31, 2017
