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How Much Should You Have Saved in Retirement by Age?
Wondering if you’ve saved enough for retirement? This guide breaks it down by age.
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March 2026
As you’re planning for retirement, understanding how much you should have saved by your age bracket can be key to securing a comfortable and worry-free future.
While everyone’s financial needs vary, income-based benchmarks can offer helpful guidance. Read on to learn more.
Don’t Rely Solely on Home Equity
For many Americans, a significant portion of their net worth is tied up in their home. While home equity can be a valuable asset, it's not easily accessible for everyday living costs or emergencies. As you approach retirement, it’s important to have liquid savings—money you can easily access without having to sell or borrow against your home. Relying too heavily on home equity may compromise your financial flexibility and stability during retirement.
Retirement Savings Benchmarks
According to research from NerdWallet[1], the average retirement savings for all families is $333,940. However people wanting to maximize retirement may want to aim their sights higher.
Ages 45-54
Average savings of
$313,220
Ages 55-64
Average savings of
$537,560
Ages 65-74
Average savings of
$609,230
Keep in mind, these figures don’t account for inflation, healthcare expenses, or market fluctuations—factors that can significantly impact your retirement budget. Thoughtful investing and planning for future costs, especially healthcare, are essential to protecting your financial health over the long term. Working with a financial advisor can provide clarity and guidance and is a good option to explore.
An advisor may boost your retirement by 4x.
Disclaimer:
Disclaimer:
People with financial advisors have better financial outcomes. Working on a financial plan now can potentially increase your retirement savings by 4x in the future based on this 2024 T. Rowe Price Study
[2]
If You're Not Where You Want to Be
Falling short of your retirement savings goal isn’t the end of the road. You still have options to improve your financial outlook:
• Max out catch-up contributions
If you’re 50 or older, you can contribute an extra $7,500 to your 401(k) and $1,000 to your IRA annually.
• Delay retirement Working a few more years or taking on part-time work can let you delay claiming Social Security, which increases your benefits by 8% each year after full retirement age.
• Consult a financial professional →
A financial professional can ensure that you have a comprehensive plan to get back on track.
Take An Important Step Towards Retirement Confidence
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Work toward your money goals: Connect with your advisor and start making progress.
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Disclaimer: This information is for general informational purposes only and does not constitute personalized investment advice. The benchmarks discussed are general guidelines and may not reflect your individual circumstances. Your actual retirement needs can vary significantly based on factors such as lifestyle, health, inflation, and market conditions. All investments involve risk, including possible loss of principal, and there is no guarantee that any particular investment strategy will be suitable or profitable. Converting a traditional retirement account to a Roth IRA may help reduce your tax burden in retirement, but the converted amount is subject to income tax in the year of conversion, which could place you in a higher tax bracket. Withdrawals from a Roth IRA also have specific rules: converted funds generally must remain in the account for at least five years to be withdrawn tax-free, and early withdrawals may incur taxes and penalties. Consult a qualified tax professional to understand how a Roth conversion could affect your individual situation. While tax-advantaged accounts such as Health Savings Accounts (HSAs) can offer valuable benefits, they have eligibility requirements and annual contribution limits. HSAs require enrollment in a high-deductible health plan and may result in higher out-of-pocket costs. Withdrawals for non-qualified expenses are subject to taxes and penalties. HSA investments involve risk, and account fees or legislative changes may affect their benefits. Consult a financial or tax professional to determine whether an HSA is appropriate for you. NerdWallet Advisory is not a law firm or accounting firm, and this information should not be construed as legal or tax advice. For advice specific to your needs, consult a qualified financial, tax, or legal professional.
NerdWallet Advisors Match and its recommendations are free. Financial planning and/or advisor services provided by recommended advisors are subject to fees charged by those advisors. NerdWallet Advisory LLC (dba NerdWallet Advisors) is an SEC-registered investment advisory, and wholly owned subsidiary of NerdWallet, Inc. Complete disclosures about the Advisor Match service can be found by clicking here.
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