Is $50,000 a lot of savings for a 30-year-old in the U.S. to have?

According to the latest Better Money Habits report from Bank of America, 73% of millennial respondents were saving. So it’s a fact that millennials are doing a better job saving than older generations. But how much savings is enough savings? There is no one-size-fits-all answer to the question. A general rule of thumb is to have one time your yearly income saved by age of 30, three times your income saved by 40, and so on.

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