Bernie Sanders says half of Americans have less than $10,000 in savings accounts

Sen. Bernie Sanders, shown here in New York, made a claim about savings account balances in an Austin stop (Getty Images).
Sen. Bernie Sanders, shown here in New York, made a claim about savings account balances in an Austin stop (Getty Images).

"Here’s something not talked about, something that can make us all very, very nervous," Sen. Bernie Sanders said recently in Austin. "Half of all Americans have less than $10,000 in their savings account.

"And you know what that means and you know why people are so stressed out? If you have less than $10,000," he said, "that means an automobile accident, a divorce, a serious illness, a crisis of one kind or another can drive you into bankruptcy and financial disaster."

We wondered if the Vermont Independent who might run for president was right that half of us have less than $10K in savings, ultimately finding  clarification missing. Precisely, a 2014 survey indicated about half of American adults had less than $10,000 in savings and investments, such as a 401(k) or IRA, that could be used for retirement; the results encompassed more than savings accounts.

MOSTLY TRUE.