Thursday, November 16, 2006

How Does Your Nest Egg Rate?

In case you were wondering how your savings compared with other Americans, here you go.

 “Nest egg savings” of American households, 2001
AgeMedianTop 25%Top 10%Top 5%Top 1%
20 to 29 yrs5,55021,70061,690100,600833,530
30 to 3922,25097,400242,977440,8001,517,400
40 to 4952,300222,000532,600971,9003,677,004
50 to 5995,130339,000948,0001,933,0008,420,400
60 to 6983,400310,9001,099,3402,401,5509,459,800
70 to 7962,500296,300877,3001,561,6006,038,000
80 and over51,350223,800561,200911,6002,037,300

Source: Federal Reserve Survey of Consumer Finances, VIP Forum (The age range given typically reflects the maturity of the oldest person in the house. "Nest egg savings" refers to net worth, excluding home equity.)

 Home equity as a percentage of net worth, 2001
AgeMediantop 25%top 10%top 5%top 1%
20 to 29 yrs29.2%42.6%34.7%38.3%5.9%
30 to 3942.3%34.2%31.0%17.3%17.2%
40 to 4951.1%31.6%21.4%19.4%11.6%
50 to 5946.8%25.7%17.9%20.6%7.0%
60 to 6950.4%32.9%22.0%16.1%2.7%
70 to 7964.0%39.1%18.6%16.3%14.2%
80 and over64.1%35.3%29.2%21.8%12.3%
Source: Federal Reserve Survey of Consumer Finances, VIP Forum

via MoneyCentral

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