Comparing one's savings with the average American savings by 60 can be a valuable exercise in understanding one's financial standing and identifying areas for improvement. In this analysis, we will discuss the factors that contribute to the average savings, the implications of being above or below the average, and strategies to improve one's financial situation. 1. Understanding the Average Savings by 60 in the United States: In the United States, the average savings by age 60 vary depending on various factors such as income, lifestyle, and financial habits. According to the Federal Reserve's 2019 Report on the Economic Well-Being of U.S. Households, the median value of retirement account assets for all adults aged 55-64 was approximately $120,000. However, this number can be influenced by factors like homeownership, debt, and overall net worth. 2. Comparing Your Savings with the Average: To compare your savings with the average, you need to assess your own financial si...