Comparison may be the thief of joy but it can also be a great motivator, particularly when it comes to savings.
With that in mind, here are the median savings balances of six different age groups, according to the latest data from the Federal Reserve’s Survey of Consumer Finances, which has asked Americans about their personal finances in three-year cycles since 1989.
“Savings” has three categories, according to the Fed: transaction accounts such as checking and traditional savings accounts; certificates of deposit (CDs); and savings bonds.
A CD is low-risk and available through banks and credit unions like a traditional savings account but has two key differences - interest rates are typically higher and early withdrawals often come with penalties. A savings bond is similar to a CD - low risk and better returns than the average savings account but is issued by the Treasury Department.
Median numbers, instead of average or means, provide a clearer picture of how Americans’ finances are faring because they aren’t affected by extremely low or high figures that might skew it.
Gen Z and young millennials: 35 and under
Those under 35 have median overall savings of $12,220. That is down by around $6,000 from 2022. The drop was due, in part, to persistent high inflation from 2022 to 2025, the Fed noted.
A large chunk of young adults’ savings are in CDs, where the group has a median balance of $6,600. The remaining $5,620 is split across transaction accounts ($4,620) and savings bonds ($1,000).
Millennials: 35-44
Older millennials have median savings of $27,300 and mostly in CDs at $20,000. Transaction accounts have a median total of $6,600, and savings bonds are $700.
Millennials’ median savings balances have risen for two cycles of the Fed survey - $19,972 in 2022 and $27,300 in 2025.
Gen X: 45-54
Gen X has about $9,000 more in savings accounts than millennials. Gen X‘s medians are $25,000 in CDs; $9,400 in transaction accounts; and $1,000 in savings bonds.
This age group’s median savings has increased for three consecutive survey cycles - $22,708 in 2019, $26,812 in 2022 and $35,400 in 2025.
Elder Gen X and Boomers: 55-64
This age group has a total median savings of $47,000 - 35,000 in CDs, $10,000 in transaction accounts and $2,000 in savings bonds.
This group has at least double the money in savings bonds of other age groups. As consumers get closer to retirement, they often move their money into lower-risk accounts to preserve their wealth.
Elder Gen X and boomers saw their median savings balance fall by nearly $14,000 in three years.
Boomers: 65-74
The oldest group of savers has a median balance of $57,000. All but $10,000 of that money is tied up in low-risk accounts - $45,000 in CDs and $2,000 in savings bonds. The other ten grand is in transaction accounts.
This age group saw a $26,000 drop-off in median savings from 2022 to 2025 as boomers tapped their savings to cover retirement expenses.
Boomers and Silent Generation: 75 and older
The oldest age group in the Federal Reserve’s databank has the highest median balances in every category of savings.
The age group’s overall median balance is $74,000 - made up of $14,000 in transaction accounts, $50,000 in CDs and $10,000 in savings bonds. Those aged 75 and older have five times the median savings bond balance of the next closest age group.
Elder boomers and the Silent Generation saw their median balance rocket from $49,247 in 2022 to $74,000 in 2025. The age group’s increase in wealth during that period is likely due to a soaring stock market that boosted the median net worth of those 75 and older by 37 percent, Yahoo Finance noted in October.
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