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How much money should I have in the bank?

Asked by JHUstudent (692points) May 27th, 2014

I am currently in my mid-twenties. About as mid-twenties as it comes. One thing I’ve always been kind of curious about is how much does the average 25–27 year old have in the bank? I’m talking just Checking and Savings combined.

Obviously, this comes with some context. I’m saying your average mid-twenties, fully-employed, living on their own guy, etc. While still going out on the weekends and all that. While doing an okay job of saving.

Is there a number I should be shooting for? A number that if I get to, I should hit the panic button?

Just looking for some advice. This question just isn’t something I feel comfortable asking my close peers.

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