New Study Finds a 13% Increase in Average Retirement Savings Year Over Year, Up to $98,800
July 13, 2021 by Elizabeth Gravier
Over a year since the pandemic put millions out of work and and onto government aid, Americans’ finances are reportedly bouncing back.
More than half of Americans say they’re in financial recovery mode, according to Northwestern Mutual’s latest 2021 Planning & Progress Study that surveyed 2,000-plus American adults in March 2021.
The annual study found that both personal savings and retirement nest eggs have grown year over year: Average personal savings have increased over 10% ($65,900 to $73,100), while average retirement savings have seen a bigger jump of 13% ($87,500 to $98,800).