The Finances of the Average American … Pastor?

The Digerati Life recently wrote about the finances of the average American family.  The facts might surprise you…but then again, maybe not:

• The average American family has $3,800 in the bank.
• 50% of American households don’t have a retirement account.
• The 50% of households with retirement accounts only have $35,000 saved up (per family).
• The average family owns a house worth $160,000, $95,000 of which is their mortgage.
• Average income is $43,000 per year.
• Average credit card debt is $2,200.
• 40% of working Americans are not saving for retirement.
• $117,951 is the average American household’s debt.
• 25% of households have no savings whatsoever.
• 24% have postponed retirement.
• Only 18% are very confident about their retirement situation.
• $2 trillion is the combined amount of personal debt held by Americans.
• 7.7% don’t own a bank account!

Frankly, I thought the credit card debt would have been higher and the amount of savings would have been lower, so I was pleasantly surprised there.

But it is truly sad to me that 50% of Americans don’t have a retirement account, and half of those who do have one, have only $35,000 saved for retirement.  I know many pastors fit into this category.

How do your finances compare with that of the average American?  And what about the people in your congregation?