How can that be? Only ~30-35% of Americans rent a home, which means that ~65-70% of Americans either own a home or are freeloading (e.g. living with parents). Only ~3% of homes are considered to be underwater, which means virtually all those who own a home have been able to save over and above their monthly expenses.

So, especially on the high end, if 69% of Americans are unable to save, while virtually all homeowners have been able to save, and even if we assume all renters cannot afford to save, that suggests 34% of Americans are freeloaders. It seems highly unlikely that all renters are unable to save (what about the tech people who rent?), but whatever.

How do we resolve that? The freeloader figure is in the ballpark of what the data suggests if you are counting all the way down to babies. Is that what you've done here? But nobody would ever think that a baby should have an income that allows them to save, so you're kind of being disingenuous if that is the case. I find it hard to believe you would state this figure including children.

Or is it that you mean 55-69% of Americans do not have money in a savings account – as in a specific type of bank account? I have seen reports like that before so maybe that's where you got the idea? If that's what you mean, it is quite believable that the majority do not keep money parked in a savings account. The interest rates in such accounts are rarely compelling, so why would they?