US Median Savings by Age Group: Federal Reserve Survey Shows Wide Gaps

By Islam El-Sakka

The latest Federal Reserve Survey of Consumer Finances reveals stark differences in median savings balances across six age groups, with Americans aged 75 and older holding a median $74,000 compared to $12,220 for those under 35. The triennial survey, conducted since 1989, categorizes savings into transaction accounts, certificates of deposit (CDs), and savings bonds.

Savings Categories and Methodology

The Federal Reserve defines savings across three low-risk vehicles: transaction accounts such as checking and traditional savings; CDs, which offer higher interest rates but penalize early withdrawals; and savings bonds issued by the Treasury Department. Median figures are used to avoid distortion from extremely high or low balances.

Under 35: Gen Z and Young Millennials

Adults under 35 hold a median overall savings of $12,220, down roughly $6,000 from 2022. The Federal Reserve attributes the decline partly to persistent high inflation from 2022 to 2025. CDs account for the largest share at a median $6,600, while transaction accounts hold $4,620 and savings bonds $1,000.

35-44: Older Millennials

This group reports a median savings of $27,300, up from $19,972 in 2022. CDs dominate at a median $20,000, with transaction accounts at $6,600 and savings bonds at $700. Median balances have risen for two consecutive survey cycles.

45-54: Gen X

Gen X savers hold a median $35,400 overall, an increase from $26,812 in 2022 and $22,708 in 2019. Their median CD balance is $25,000, transaction accounts $9,400, and savings bonds $1,000. This marks three straight cycles of growth.

55-64: Elder Gen X and Boomers

Median savings for this cohort stand at $47,000, comprising $35,000 in CDs, $10,000 in transaction accounts, and $2,000 in savings bonds — the highest bond allocation among all groups. However, their median balance fell nearly $14,000 over three years as they shift toward lower-risk accounts nearing retirement.

65-74: Boomers

Boomers aged 65-74 have a median $57,000 in savings, with $45,000 in CDs and $2,000 in savings bonds. Transaction accounts hold the remaining $10,000. This group saw a $26,000 drop from 2022 to 2025 as retirees tapped savings for expenses.

75 and Older: Elder Boomers and Silent Generation

The oldest group holds the highest median savings at $74,000, split among $50,000 in CDs, $14,000 in transaction accounts, and $10,000 in savings bonds — five times the bond median of the next closest age group. Their median balance surged from $49,247 in 2022, likely driven by a soaring stock market that boosted median net worth by 37 percent, according to Yahoo Finance.