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What percentage of income does the average person save?
5–8% (US)
What percentage of income does the average person save?
The US personal savings rate averaged about 5–8% in the decade before 2020. It spiked to 33% during the COVID-19 lockdowns in April 2020, then fell to below 3% in 2022–2023 as spending recovered. Germany and China consistently save at 10–15% rates.
Source: Federal Reserve Bank of St. Louis; BEA
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Financial Trajectory
When will you be financially free?