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The following tables show the latest data on the average and median 401 (k) balances by age in Fidelity Investments and Vanguard 401 (k) plans, two of the largest defined contribution...
Consider the average 401(k) balance by age and income level in the U.S. We help you assess your retirement strategy and where you may fit on the 401(k) scale.
The below numbers show how 401(k) balances increase with age, at least until participants start drawing on their money in retirement.
Here’s the average 401(k) balance by age as of March 31, 2024, according to Fidelity. (Second quarter age balances for 2024 were not available.)
Average 401(k) plan balances reached $134,128 in 2023, up from $112,572 in 2022 and down from $141,542 in 2021, according to Vanguard’s “How America Saves 2024” report.
According to Fidelity, the average 401(k) balance for the 60-to-69 age group is $182,100. It suggests that by age 60, you should have eight times your annual salary saved.
According to Vanguard, the average 401(k) balance by age is as follows: Under age 25: $7,351. Age 25 to 34: $37,557. Age 35 to 44: $91,281. Age 45 to 54: $168,646. Age 55 to 64: $244,750.
What is the average 401(k) balance by age, and how do you stack up? Learn how much you can save if you max out your 401(k) every year.
The average 401(k) balance varies widely by age. How much you have saved for retirement will depend on many factors, such as your income level, overall cost of living, family situation, and...
Here is the average 401(k) balance by age, plus the median 401(k) balance by age using Vanguard's average retirement savings statistics from the 2024 report titled "How America...