The average balance of 401(k) plans and other defined contribution plans is $167,970, according to Vanguard and $155,800, according to Fidelity.
The average 401(k) balance has increased by around 13% compared to the previous year, suggesting that Americans are setting aside more for retirement and their account balances are growing.
Average 401(k) balance by age
Averages can be helpful, but outliers (very high or very low balances) tend to skew the number. The median often gives a more accurate view of a data set. Vanguard's median balances are quite a bit lower than the averages.
Age | Average 401(k) account balance | Median 401(k) account balance |
|---|---|---|
Under 25 | $7,259 | $2,234 |
25-34 | $50,261 | $18,732 |
35-44 | $120,742 | $46,919 |
45-54 | $214,991 | $78,730 |
55-64 | $305,006 | $107,269 |
65 and older | $330,186 | $103,202 |
NerdWallet Wealth Partners created a free calculator to estimate your financial independence number, see where you stand, and find out how much you might need to close the gap.
Breakdown of average 401(k) balances by age group
Under 25
Average 401(k) balance: $7,259
Median 401(k) balance: $2,234
Many of the participants in this age group are new to working and new to saving for retirement. Yet even at this age, it’s a good rule of thumb to prioritize contributing to your workplace retirement plan, especially if your employer matches a portion of your contributions.
These numbers don’t reflect what younger investors may have saved elsewhere, in taxable brokerage accounts or individual retirement accounts, such as Roth or traditional IRAs.
Age 25-34
Average 401(k) balance: $50,261
Median 401(k) balance: $18,732
At this point, whether measured by the average or the median, participants have increased their balances quite a bit. As people age and spend more time in the workforce, they’re more likely to hold more than one 401(k), especially if they’ve changed jobs without rolling over or combining accounts.
Age 35-44
Average 401(k) balance: $120,74
Median 401(k) balance: $46,919
Another solid jump by this age range, with both figures more than doubling — the last time we’ll see a percentage jump that large between age ranges. That’s likely at least partially a product of peak earning years, more years of contributions and opportunity for higher savings rates if incomes have grown. Vanguard data shows 87% of eligible workers ages 35 to 44 participate in their plan, compared with 82% of those ages 25 to 34, and they save an average of 11.8% of pay including employer contributions, versus 11.3% for the 25-34 group.
Age 45-54
Average 401(k) balance: $214,991
Median 401(k) balance: $78,730
This group has hit the age at which catch-up contributions begin to be allowed by the IRS. The regular limit is$24,500 in 2026. People aged 50 and older can contribute an extra $8,000 as a catch-up contribution. Due to the Secure 2.0 Act, those aged 60, 61, 62 and 63 get a higher catch-up contribution of $11,250. . That can be helpful for those feeling behind at this point, assuming that extra cash is available to put toward retirement.
Age 55-64
Average 401(k) balance: $305,006
Median 401(k) balance: $107,269
Growth has slowed here, which makes sense, as people may start to withdraw the money they've been saving for retirement.
After this age group, 401(k) balances can begin to fall, or at least grow at a slower pace, as even more people start tapping their accounts.
Age 65+
Average 401(k) balance: $330,186
Median 401(k) balance: $103,202
People in this cohort may begin withdrawing money or pivot more of their investments to cash, both of which may decrease balances or flatten growth.
» Learn more: How much should I contribute to my 401(k)?
NerdWallet Wealth Partners created a free calculator to estimate your financial independence number, see where you stand, and find out how much you might need to close the gap.
How many people have over $1 million in their 401k?
In 2025, 54.9% of U.S. families had money in retirement accounts such as 401(k)s or IRAs, up slightly from 54.3% in 2022 . As of 2022, about 4.6% of all households had more than $1 million in those accounts, according to the Congressional Research Service.
How long will $500,000 in 401(k) last at retirement?
Determining how long a $500,000 401(k) balance will last isn’t an exact science. There are many variables at play — investment returns, inflation, unforeseen expenses — and all of them can dramatically affect the longevity of your savings.
» How long will your savings last? Try our free calculator
Average 401(k) contribution rates
People contribute 12.1% of their pay to 401(k)s on average, including matching employer contributions. The median contribution rate is 11.6%.
If you want to beef up your account balance, one way to do it is to contribute at least enough to get the employer match if there's one offered. Another is to evaluate your 401(k) plan regularly and increase your contributions over time.
Average 401(k) match
The average employer match is 4.7% (the median is 4%), according to Vanguard.
Most plans (69%) follow a single-tier match formula, which means the employer matches a specific amount on a set percentage of pay. For example, the employer might contribute 50 cents for every dollar the employee contributes on the first 6% of the employee's pay.
What to know about average 401(k) balances
Information about average 401(k) balances can generally speak to how workers are doing when it comes to saving for retirement, but it does little to help you analyze your own situation. It’s also limited to people who have a defined contribution plan at work, and not everyone does.
A better approach to benchmarking your efforts: A retirement calculator, which will give you a recommendation for how much you’ll need at the end of the line. To take it a step further and get more personalized advice about whether you're on track and how to improve or balance retirement with other goals, work with a financial advisor.
Article sources
- 1.Vanguard. How America Saves 2026. Accessed Oct 21, 2026.
- 2.Fidelity. Fidelity Q2 2026 Retirement Analysis. Accessed Oct 21, 2026.
- 3.Internal Revenue Service. 401(K) Limit Increases to $23,500 for 2025, IRA Limit Remains $7,000. Accessed Oct 21, 2026.
- 4.Federal Reserve. Survey of Consumer Finances (SCF). Accessed Oct 22, 2026.
- 5.Congress. Distribution of Retirement Account Balances: Analysis of the 2022 Survey of Consumer Finances. Accessed Oct 21, 2026.
