Monday, December 14, 2015

More Than Half of Millennials Have Less Than $1,000

More than half of millennials (nearly 52%) have less than $1,000 in savings, according to a recent survey from, a personal finance site. The study was carried out online by Google Consumer Surveys last month among more than 2,550 people ages 18 to 24 and ages 24 to 35.

But notes MarketWatch, about 62% of Americans overall have less than $1,000 in savings, a survey from personal finance found earlier this year.



  1. This is the electronic equivalent of voting with your feet. Why save? Why save at a bank? Banks are now a target for confiscation. The Legal reason for providing a method of saving value is now obsolete. There is nothing to take the place of the Savings Account and if you now use one, you are faced with the prospect of having it taxed and eventually confiscated.

    This is an example of "Rational Expectations". The "lumpy mattress" is the final savings account. Great PhD Thesis. Lousy way to live.


  2. They have nothing to lose but their chains! (Channeling Marx, heh.)

  3. "62% of Americans overall have less than $1,000 in savings." Seems pretty pathetic.

    According to about 40% of the population of the 2012 USA is either under 20 (27%) or over 64 (13%). Kids and teens (27%) should probably be eliminated from a discussion on savings. The Market Watch breakdown of age groups 18 to 24 and 25 to 34 is helpful.

    Oldsters are a different story. It could be argued that oldsters should at least hit retirement at their highest amount of savings (or net worth). It would be nice to see the over 64 ages broken down in a similar manner.