Average Retirement Savings by Age 2026 — Median, Percentiles & Gaps

The median American family approaching retirement age (55–64) that has a retirement account holds $239,000 in total retirement savings — well short of what most financial planners recommend — and about 37% of families that age have no retirement account at all. The average among account holders is $670,200, but that figure is skewed upward by a small number of very large accounts. Measured against Fidelity’s salary-multiple guidelines (using a $60,000 salary as the example), the typical family with an account is behind in every age group from 25 to 74.

Quick answer: Among US families with a retirement account (55% of all families), the median balance is $106,000; counting families with no account, it is about $5,000 (Federal Reserve, 2025 Survey of Consumer Finances). For specific age groups, medians among account holders run from $4,800 under age 25 to $257,000 at ages 65–74 and 75+. In every age group from 25 to 74, the median falls short of the salary-multiple targets based on Fidelity’s guidelines.

Average and Median Retirement Savings by Age (2026)

The gap between average and median is one of the most useful things to understand when reading retirement savings data. Averages are pulled up dramatically by the roughly 12% of families who have $500,000 or more saved. Medians reflect what the typical person actually has.

Source: Federal Reserve, 2025 Survey of Consumer Finances, public data (2025 dollars), our calculation; average and median are among families with a retirement account. Salary-multiple targets based on Fidelity guidelines, assuming a $60,000 salary. The Fed’s SCF is published every three years.

The Retirement Savings Gap — By the Numbers

In dollars, the gap between the median family’s savings and the salary-multiple target grows with age and is largest at 65–74, when there is least time to close it:

Medians among families with a retirement account (2025 Survey of Consumer Finances); about half of families aged 65–74 have no retirement account at all.

The median 65-to-74-year-old family with a retirement account has less than half of the recommended retirement savings. Social Security fills part of this gap, but most Americans face a meaningful shortfall. The average Social Security retired-worker benefit of roughly $24,850/year (December 2025) combined with the 4% rule on $257,000 (~$10,280/year) gives total income of roughly $35,100/year.

Worked example: Maria is 48 and earns $72,000/year. She has $61,000 in her 401(k) and IRA combined — placing her above the 25th percentile ($47,600) but well below the median ($133,000) of 45–54-year-old families with a retirement account (2025 Survey of Consumer Finances). Fidelity publishes no milestone at 48; a straight-line estimate between its 3× at 40 and 6× at 50 is about 5.4× her salary, or approximately $389,000, by now. Her gap is roughly $328,000. Contributing 15% of gross income ($10,800/year) at 7% growth from age 48 would produce approximately $525,000 by 65 — above the $257,000 median for ages 65–74, though still short of the 10× target ($720,000 on her salary). Adding catch-up contributions at 50 ($8,000/year extra at the current limit) could push her ending balance to roughly $727,000.

How You Compare: Retirement Savings Percentiles

Ages 35–44

Ages 45–54

Ages 55–64

Key finding: About 37–40% of families in each of these age groups have no retirement account at all, so they are not in these tables. Among near-retirees (ages 55–64) who do have one, one in four has less than $60,000. Reaching the 75th percentile at ages 55–64 takes about $709,000 — roughly the recommended 8× salary target for someone earning $90,000.

Retirement Savings by Account Type

Americans save through multiple account vehicles. Total retirement savings across all accounts matters more than any single balance:

Sources: Vanguard “How America Saves 2026” (year-end 2025 data; the 86% participation rate is Vanguard’s estimate); Federal Reserve 2025 Survey of Consumer Finances, our calculation from the public data (IRAs, among families that hold one).

Many savers hold both a workplace plan and an IRA, so the total across accounts is what counts. See average 401(k) balance by age for a detailed breakdown of 401(k)-only figures.

How Retirement Savings Have Changed — Trend Data

The Federal Reserve Survey of Consumer Finances is conducted every three years. The comparison below uses the 2022 and 2025 surveys, both in 2025 dollars (the Fed’s public 2022 data is now inflation-adjusted to 2025 dollars):

Medians among families with a retirement account, by age of the household head; our calculation from the Fed’s public data for both surveys. Single age groups are small subsamples, so the changes are approximate.

Overall, the median retirement account balance among families with an account rose 11% after inflation between 2022 and 2025, from $95,200 to $106,000, and the mean rose 23% to $451,100, according to the Fed’s own report. The share of families with a retirement account was little changed, at 54.9% in 2025.

Retirement Savings by Gender

In the Federal Reserve’s 2025 survey, families headed by a woman had much less saved in retirement accounts than families headed by a man in each age group below:

Medians among families that have a retirement account, by sex of the family’s reference person; Federal Reserve 2025 Survey of Consumer Finances, our calculation from the public data, in 2025 dollars. About nine in ten families headed by a woman have no spouse or partner, so part of the gap reflects household type.

The gap is driven primarily by three factors:

1. Pay differences — lower average pay means lower absolute contributions even at the same percentage rate
2. Career interruptions — time out of the workforce for caregiving can mean lost years of contributions and employer matches
3. Longer life expectancy — women live about five years longer than men on average (4.9 years at birth in 2024), requiring their savings to stretch further

In Vanguard’s 2025 plan data, men and women saved at similar rates overall, and at higher income levels women saved slightly more. The balance gap appears to reflect income, career interruptions and household type more than saving rates.

Retirement Savings by Income Level

Source: Federal Reserve, 2025 Survey of Consumer Finances, public data (2025 dollars), our calculation. Income is the family’s before-tax income for 2024.

Higher-income earners have a structural advantage: the $24,500 401(k) contribution limit represents about 16% of a $150,000 salary versus a much larger fraction of lower incomes — and lower earners have less disposable income to direct toward savings in the first place.

Why the Numbers Are So Low

1. Late Start

Starting late leaves fewer years for compound growth. A $200/month contribution starting at 22 grows to approximately $758,500 by 67 at 7% annual growth (monthly compounding). Starting at 32 produces only $360,200 — less than half — from the same contribution amount.

2. No Access to Employer Plans

Not every worker is offered a retirement plan through their employer. Without payroll deduction and employer matching, self-directed saving depends on setting up and keeping up your own transfers.

3. Cashing Out Early

In Vanguard’s 2025 plan data, 28% of participants who left an employer took a cash distribution rather than keeping the money in the plan or rolling it over. Cashing out means losing years of compound growth, and under age 59½ it generally adds a 10% additional tax on top of regular income tax.

4. Low Contribution Rates

The average 401(k) contribution rate was 7.6% of pay in Vanguard’s 2025 plan data. Employer contributions add to that. Fidelity suggests saving at least 15% of your income each year, including any employer contribution.

5. Debt Competing for Dollars

Student loans, credit card debt, and housing costs draw on the same paycheck as retirement savings. Paying off high-interest debt first is rational, but it delays compounding.

What Social Security Provides — And What It Doesn’t Cover

Social Security replaces only part of pre-retirement income, so the gap typically needs to come from personal savings. A retiree needing $60,000/year who receives $24,850 from Social Security needs their savings to generate $35,150/year — which requires approximately $879,000 using the 4% rule.

For people born in 1960 or later (full retirement age 67), delaying Social Security to age 70 rather than claiming at 62 increases the monthly benefit by approximately 77%. For workers with enough savings to bridge the gap, delaying claiming permanently raises the monthly benefit, up to age 70.

How to Catch Up — Strategies by Decade

In Your 20s–30s

• Start now — even $200/month at 7% for 35 years grows to approximately $360,000
• Capture the full employer match — the employer adds money on top of what you contribute, though your plan’s vesting schedule decides when it becomes yours
• Open a Roth IRA for tax-free growth ($7,500 limit in 2026 if income eligible)
• Set automatic 1%/year contribution increases so raises go directly to savings

In Your 40s

• Aim for at least 15% of income, including any employer contribution (Fidelity’s guideline)
• Max the employer match, then max the 401(k) ($24,500 in 2026), then fund an IRA
• Pay off high-interest debt to free up future savings capacity
• Consider rolling over old 401(k)s from previous employers — compare fees and investment options first

In Your 50s–60s

• Use catch-up contributions: extra $8,000 for 401(k) (or $11,250 at ages 60-63), extra $1,100 for IRA
• Consider delaying Social Security to 70 — for people born in 1960 or later, the monthly benefit is about 77% higher than at 62
• Run a retirement income projection — not just a savings balance total
• Consider part-time work in early retirement to reduce drawdown rate
• Reduce expenses and eliminate debt before your retirement date

Are You on Track? Checking Your Progress

The salary-multiple framework gives a quick benchmark — but comparing your balance to the percentile table above tells you where you actually stand versus peers:

Families at the median balance (among those with a retirement account) fall short of the $60K targets above at every age shown. Reaching the recommended targets is easier with an early start, steady contributions and many years of compounding.

What’s Next

• Average 401(k) Balance by Age — 401(k)-only breakdown with percentile tables for every age group
• 401(k) Balance Percentile Calculator — See where your balance ranks vs. peers your age
• How Much Do I Need to Retire? — Full retirement number calculator and planning framework
• Social Security Benefits by State — What the average retiree receives and how to maximize it
• 401(k) Contribution Limits 2026 — $24,500 standard limit; $32,500 with catch-up at 50+ (or $35,750 at ages 60-63)
• How Much Do I Need to Retire? Hub — Full retirement planning resource center

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.