Average savings by age revealed as over-55s build pots of £33,420 - how do you compare?

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The figures reveal a stark generational divide, with younger adults holding less than £3,000 on average

Britons aged 55 and over have an average of £33,420 in savings, more than 12 times the amount held by the youngest adults, new research has revealed.

However, the figures expose a stark divide across the country, with 8.9 million adults having no savings at all and two in five holding £1,000 or less.

A 2026 survey by Finder found the typical person in the UK has around £19,214 tucked away.

That national figure is heavily skewed by older savers, though, as those under 55 hold just £9,888 on average.

A quarter of the population has £200 or less set aside, meaning millions would struggle to cover even a single week's worth of living costs if they had to fall back on their savings.

What are the average savings by age in the UK?

The research suggests that once those big spending milestones pass, many people are able to build up their reserves at a much faster pace.

One in six UK adults - around 8.9 million people - have nothing saved at all, according to the research. Generation Z is the worst affected, with 20 per cent of 18 to 29-year-olds having zero savings.

Among millennials, 17 per cent have nothing put aside, while 19 per cent of Generation X are in the same position.

Older generations fare better, with just 9 per cent of baby boomers and 10 per cent of the silent generation lacking any savings.

There is also a significant gap between men and women. Men hold an average of £23,912, compared with £14,464 for women.

Women are also less likely to have any money set aside at all, with just 66 per cent confirming they do, versus 81 per cent of men.

Tracey Greyvenstein, from Abingdon, described how the cost of living crisis has eaten into her reserves.

"I already have 3 side hustles and am still battling to get by. I cook for the local squash club, I sell clothes on eBay, I enter competitions and I do online surveys for money. I am not happy with how much I have saved.

"I have had to use some of it to pay for things like car insurance, tyres, MOTs, electricity bills and repairs," she said.

Her experience reflects a wider problem. ONS data shows the average household of 2.35 people spends £623.30 a week, meaning a single person typically gets through roughly £1,152 a month.

For the 39 per cent of Britons with £1,000 or less saved, that leaves less than a month's buffer if their income were to disappear.