How much have you saved by the age of 31?
I can provide you with information about average savings at different ages and factors that impact saving, which might be helpful in your own financial planning.
For example, the average savings for someone at 31 in the United States can vary greatly depending on various factors like income, expenses, location, family situation, and financial goals. Research from the Federal Reserve suggests that the median savings for individuals under 35 years old in the US was around $3,240 in 2019. However, this includes people with very different financial situations.
Ultimately, the amount you save by 31 is highly personal and depends on your individual circumstances and financial journey. Focusing on developing good financial habits, setting realistic goals, and seeking professional advice if needed can be more valuable than comparing yourself to others' savings at a specific age.
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