Americans are lagging behind when it comes to saving money: The median American household has just $11,700 in total savings. And 29 percent of households have less than $1,000.
But some are more prepared than others. Not surprisingly, the Americans who earn the most have saved the most.
The top 1 percent of earners have a median balance of $1.13 million across various types of banking and retirement savings accounts. When you look at the average account balance, that number is even higher: $2.5 million. The bottom 20 percent, on the other hand, have an average of $8,720 saved and a median of $0.