Q:

# What is a average savings of a 30 year old?

A:

As of 2014, the average savings of a 30-year-old is between \$5,000 and \$9,999; the second most common range for this age is \$10,000 to \$24,999. These numbers vary based on location, family background and education.

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For the group aged 33 to 44, the median savings amount is \$61,000, compared to only \$12,000 in the 25-to-32 range. The ideal amount in savings for a 30-year-old is enough to cover expenses for one full year. Thus the right amount varies depending on personal expenses. If a person lives frugally, he potentially saves enough in one to three years to reach this goal. Savings grow with time, since age 30 is quite young in terms of a person's expected work potential.

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