What Is the Average Retirement Savings by Age?
The average retirement savings is $333,940. Balances vary by age, with those 55-plus having the most in their accounts.
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Lead Writer What are the average and median retirement savings?
The average retirement savings for all families is $333,940, according to the most recent Federal Reserve Survey of Consumer Finances. The median retirement savings for all families is $87,000 .
Average retirement savings by age
| Age range | Average retirement savings | Median retirement savings |
|---|---|---|
| Under 35 | $49,130. | $18,880. |
| 35-44 | $141,520. | $45,000. |
| 45-54 | $313,220. | $115,000. |
| 55-64 | $537,560. | $185,000. |
| 65-74 | $609,230. | $200,000. |
| 75 and older | $462,410. | $130,000. |
Outliers can heavily skew averages, so we include median balances in the breakdown. The median can often provide a more representative number than the average, and you’ll notice that the median numbers are quite a bit lower than the averages.
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Average retirement savings by age group
Under 35
- Average household retirement savings: $49,130.
- Median household retirement savings: $18,880.
In the Survey of Consumer Finances, nearly 50% of families headed by someone under age 35 had retirement accounts. These could include IRAs, Keoghs and certain employer-sponsored accounts, such as 401(k)s, 403(b)s and thrift savings accounts.
Ages 35 to 44
- Average household retirement savings: $141,520.
- Median household retirement savings: $45,000.
According to the data, nearly 62% of households headed by someone in this age range had retirement accounts.
This group's retirement holdings' average and median values are significantly higher than those under age 35. An IRA can be a great way to increase retirement savings while juggling other financial priorities such as childcare, living expenses and more.
» Check out our roundup of the best IRA accounts
Ages 45 to 54
- Average household retirement savings: $313,220.
- Median household retirement savings: $115,000.
About 62% of households headed by someone aged 45 to 54 have retirement holdings, according to the survey.
Ages 55 to 64
- Average household retirement savings: $537,560.
- Median household retirement savings: $185,000.
This age range is close to Social Security’s definition of full retirement age, ranging from 65 to 67, depending on your year of birth. About 57% of households headed by a baby boomer have retirement holdings.
Ages 65 to 74
- Average household retirement savings: $609,230.
- Median household retirement savings: $200,000.
The bulk of these households include someone who is in retirement or is of retirement age. According to this survey, 51% of this age group have retirement accounts.
Ages 75 and older
- Average household retirement savings: $462,410.
- Median household retirement savings: $130,000.
After this point, average and median retirement account values begin to fall, as does the percentage of people who have retirement accounts.
» Looking to boost your savings? Those 50 or older get higher 401(k) contribution limits
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How many people have $1,000,000 in retirement savings?
Of the 54.3% of U.S. households that have any money in retirement accounts, only about 5% have $1,000,000 or more in retirement savings .
How many Americans have $500,000 in retirement savings?
Of the 54.3% of U.S. households that have any money in retirement accounts, only about 9.3% have $500,000 or more in retirement savings.
What to know about average retirement savings
How do your retirement savings compare with the national average? The desire to know how you're doing in relation to your peers is natural, even if the question of how much you need for retirement is a personal one. After all, retirement savings are a common money worry. Nearly 2 in 5 Americans (39%) said “not having enough saved for retirement” was a financial concern in an April 2025 NerdWallet survey conducted online by The Harris Poll.
Many financial pros recommend putting away 10% to 15% of your income for retirement, though that may not always be possible. While tracking where you fall compared to the average and median retirement savings by age could be helpful, keep in mind these numbers only tell a portion of the story.
» MORE: See the average retirement age
Not everyone who is the same age will retire at the same time. And many things play a role in retirement savings: income, planned retirement spending, expected retirement age, life expectancy, and even systemic inequity. According to the Survey of Consumer Finances, 61.8% of White, non-Hispanic Americans held a retirement account compared to 34.8% of Black families and 27.5% of Hispanic families . (Learn more about retirement savings and people of color.)
However, retirement savings balances do tend to increase with age, partly due to factors such as increased earnings over the years, compound interest, and more.
To make a plan to save for retirement, start with one of our calculators below:
- Retirement calculator: Find out how much you personally will need to retire.
- Roth IRA calculator: Estimate your balance at retirement based on how much you can contribute this year.
- 401(k) calculator: Estimate how much you'll have at retirement based on your monthly contribution and any employer match.
- Social Security calculator: Estimate your monthly benefit based on when you plan to retire.
» Dive into how much to save for retirement
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See where you stand compared to households like yours, and get steps you could take to grow from here.
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The bottom line
Most people are entering their golden years with too little stashed away. According to an April 2024 AARP survey of adults who are saving for retirement, 31% said they aren't sure they will have enough saved, and 33% said they will not have enough saved .
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- 1. Board of Governors of the Federal Reserve System. Survey of Consumer Finances, 1989 - 2022. Accessed Sep 9, 2025.
- 2. Congressional Research Service. Distribution of Retirement Account Balances: Analysis of the 2022 Survey of Consumer Finances. Accessed Sep 9, 2025.
- 3. Survey of Consumer Finances. 2022 Survey of Consumer Finances. Accessed Sep 9, 2025.
- 4. AARP. AARP Financial Security Trends Survey, January 2024: Sense of Financial Security Holds Steady, Optimism Up. Accessed Sep 9, 2025.
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