Average 401(k) Balance by Age 2026 — Vanguard & Fidelity Data

The average balance in Vanguard-administered 401(k) and other defined contribution plans for participants ages 55–64 is $305,006 — but the median, which represents the typical participant, is just $107,269. For participants ages 25–34, the average is $50,261 and the median only $18,732. These gaps come from concentration: a small number of very large accounts pull the average far above what most people actually have saved.

Quick answer: The median 401(k) balance — the figure half of participants exceed and half fall below — is a far more useful personal benchmark than the average. At ages 45–54, Vanguard’s median is $78,730; at ages 55–64 it is $107,269. Both are well below Fidelity’s salary-multiple milestones (6× salary by 50, 8× by 60) for anyone earning more than about $13,500 a year.

2026 benchmark summary:

Source: Vanguard “How America Saves 2026” (plan year 2025 data, Vanguard participants only), rounded to the nearest $100. Salary-multiple milestones are Fidelity’s guideline (1× by 30, 3× by 40, 6× by 50, 8× by 60, 10× by 67) and count all retirement savings, not the 401(k) alone.

The 2026 401(k) contribution limit is $24,500 ($32,500 for workers 50-59/64+ with catch-up, or $35,750 for ages 60-63). Use the 401(k) balance by age calculator to compare your balance with peers your own age.

Why Average and Median Are So Far Apart

Across all Vanguard participants, the average balance in 2025 was $167,970 while the median was $44,115 — the average is almost four times the median. Vanguard notes that average balances sit at about the 75th percentile of participants, because a few very large accounts lift the mean.

Additional context from Vanguard’s 2026 report (plan year 2025):

• About 17% of eligible employees in Vanguard-administered plans don’t participate (83% participant-weighted participation rate, 2025 estimate)
• 18% of participants had a balance of $250,000 or more
• Median balances are the better personal benchmark — half of participants are above, half below

401(k) Balance Trends — How Much Did Balances Change?

After the 2022 bear market drove 401(k) balances lower, the equity recovery pushed them back up. Vanguard’s overall average balance fell from $141,542 in 2021 to $112,572 in 2022, then rose to $134,128 in 2023, $148,153 in 2024 and $167,970 in 2025. In 2025 alone, the average rose 13% and the median 16% from 2024.

Source: Vanguard “How America Saves 2026,” all participants. The report does not give earlier years by age band.

Fidelity reported a similar pattern: the number of 401(k) millionaires among its accounts grew from 299,000 at the end of 2022 to 537,000 by Q4 2024 — an increase of roughly 80%. The recovery underscores why staying invested through downturns — rather than selling into volatility — matters for long-term retirement savings.

401(k) Balance by Age Group: Average and Median

Source: Vanguard “How America Saves 2026” (year-end 2025 data, Vanguard defined contribution plans).

Percentiles by age: Vanguard publishes the average and the median (50th percentile) for each age band, but not the 10th, 25th, 75th or 90th percentiles by age. Percentile-by-age tables you may see elsewhere are not from How America Saves. Vanguard’s own guide to the spread is that the average sits at about the 75th percentile.

A few patterns in the data:

• Under 25 and 25–34: balances are small because contributions have had little time to compound. The 25–34 average ($50,261) is already about 2.7× the median.
• 35–44: the decade when compounding begins to visibly separate early starters from late starters; the median is $46,919, about 2.5× the 25–34 median.
• 45–54: the median reaches $78,730, while the average of $214,991 is pulled up by a smaller number of large accounts.
• 55–64: workers here have access to catch-up contributions — an extra $8,000/year in 2026 on top of the $24,500 standard limit ($11,250 instead for ages 60-63 in most plans).
• 65 and over: the median ($103,202) is slightly lower than at 55–64 ($107,269).

401(k) Balance by Job Tenure

Vanguard also breaks balances down by job tenure:

Source: Vanguard “How America Saves 2026” (year-end 2025 data).

Are You on Track? What You Should Have at Each Age

Rather than comparing yourself to averages — which skew high — these milestones come from Fidelity’s salary-multiple guideline, which counts all retirement savings:

The key finding: In Vanguard’s 2026 data, the median 401(k) balance in every age band is well below the Fidelity multiples applied to a $60,000 salary above. The comparison is not like for like, because Fidelity’s targets count all retirement savings while the medians cover 401(k) accounts in Vanguard plans only. Use the 401(k) balance by age calculator to compare your own balance.

401(k) Balances by Generation (2026)

Source: Fidelity, “Average retirement savings by age” (401(k) data on 25.6 million participants in 26,800 corporate plans as of March 31, 2026). Fidelity updates these figures quarterly. Fidelity puts the average total savings rate across all participants at 14.4%, close to the 15% it suggests saving (including any employer match).

Gen Z trend: SECURE 2.0 requires most 401(k) plans established on or after December 29, 2022 to automatically enroll eligible employees, starting with plan years beginning after 2024. Vanguard reported a 94% participation rate in plans with automatic enrollment, against 64% in voluntary plans (year-end 2025 data).

401(k) Balance by Gender

Men hold higher average and median 401(k) balances than women in Vanguard’s 2025 data:

Source: Vanguard, “How America Saves 2026” (year-end 2025 data). Vanguard describes men’s balances as about 30% higher; it does not publish gender by age band.

Vanguard points to income: women in its sample tended to have lower incomes than men, and when income is factored in, men’s and women’s balances were closer.

Critical context: In Vanguard’s 2025 plan data, men and women saved at similar rates overall, and at higher income levels women generally saved at slightly higher rates.

How Many 401(k) Millionaires Are There?

Fidelity reported 537,000 401(k) millionaires among its account holders at the end of 2024 — up from 422,000 at the end of 2023, though below the 544,000 it counted at the end of Q3 2024. These are counts of accounts, reported by trade press covering Fidelity’s quarterly releases, not a share of all participants. Vanguard does not publish a $1 million share; in its year-end 2025 data, 18% of participants had a balance of $250,000 or more.

Reaching $1 million in a 401(k) alone typically requires:

• Starting contributions by your late 20s
• Contributing at or near the annual maximum ($24,500 in 2026)
• Capturing the full employer match every year
• Maintaining a primarily equity-heavy investment allocation through market cycles

The 4% rule on $1 million: A $1,000,000 401(k) would support first-year withdrawals of about $40,000 under the 4% rule, a rule of thumb rather than a guarantee (Fidelity estimates a sustainable withdrawal rate at no more than 4% to 5% a year). Adding the average Social Security retired-worker benefit of $2,087.52/month ($25,050/year, as of August 2026) gives a combined $65,050/year — about 93% of a $70,000 salary before taxes. Someone who earned more and delays claiming can do better: for a worker who earned the taxable maximum every year from age 22 and starts benefits in 2026, the maximum monthly benefit is $2,969 at age 62, $4,152 at full retirement age, or $5,181 at age 70.

401(k) Balance by Income Level

Source: Vanguard, “How America Saves 2026” (year-end 2025 data; income is the participant’s income).

Higher-income earners have a structural advantage: they have more income to spare, and the median balance rises with every income band. The $24,500 contribution limit is about 16% of a $150,000 salary but about 82% of a $30,000 salary, so the limit itself mainly constrains higher earners; lower earners are held back by how much income they can set aside, not by the cap.

For a deeper look at income-driven variation, see average 401(k) balance by income.

Worked Examples: 3 Career Scenarios

All three scenarios assume a fixed yearly contribution made at the end of each year, a 7% annual return compounded once a year, no raises, no fees and no taxes. These are illustrative projections at a constant return; actual results vary.

Scenario 1 — $50,000/year salary, starting at 25

Contributing 6% of salary + 3% employer match (9% = $4,500/year), 7% annual growth:

Starting at 25 on a $50,000 salary and capturing the full employer match produces about $898,000 at 65 — about $35,900 a year under the 4% rule, plus Social Security.

Scenario 2 — $75,000/year salary, starting at 30

Contributing 8% of salary + 4% employer match (12% = $9,000/year), 7% annual growth:

The higher contribution more than makes up for the later start here. The cost of waiting shows when the contribution is held the same: Scenario 1’s $4,500/year started at 30 instead of 25 reaches about $622,100 at 65 — roughly $276,300 less than starting at 25.

Scenario 3 — $100,000/year salary, starting at 35, maxing out

Contributing the 2026 maximum of $24,500/year + a $4,000 employer match (4% of salary) = $28,500/year, 7% annual growth, no catch-up contributions:

This scenario holds the contribution at the 2026 limit for 30 years; the limit is adjusted for inflation most years and catch-up contributions from 50 would add more, so treat it as directionally illustrative. Maxing out from age 35 on $100,000/year produces a large balance despite the later start. High earners in their mid-to-late 30s may want to consider prioritizing maximum 401(k) contributions once high-interest debt is eliminated.

Run your own projections with the compound interest calculator.

The Salary Multiple Framework — Where You Should Be

Fidelity’s recommended savings milestones, expressed as multiples of your current salary:

These targets count all retirement savings — 401(k), IRA and other accounts — not just the 401(k) alone. Fidelity publishes milestones only at these ages; it does not set targets for the years in between.

Starting Early vs Starting Later

Assumes $6,000 a year ($500/month) contributed at the end of each year, a 7% annual return compounded once a year, rounded to the nearest $1,000.

A 22-year-old who contributes $500/month ends up with about $289,000 more than a 25-year-old contributing the same amount — from just three extra years of compounding.

Average Employer Match — Don’t Leave It Behind

Source: Vanguard, How America Saves 2026 (2025 plan data): the five most common match formulas among plans that offer a match, as a share of those plans. 96% of Vanguard plans made some employer contribution in 2025 (estimated).

Among Vanguard plans with a match formula, the promised match averaged 4.7% of pay in 2025 (median 4.0%). On $75,000 that’s $3,000–$3,525/year, or $120,000–$141,000 over 40 years before investment growth. See the full employer match guide.

Catch-Up Strategies if You’re Behind the Median

1. Capture 100% of employer match first This is an immediate match on what you contribute, subject to your plan’s vesting schedule.

2. Use automatic contribution escalation Many plans offer automatic annual increases; among Vanguard plans with automatic enrollment, 71% also used automatic annual increases in 2025. On a $75,000 salary, each extra percentage point is $750 more saved per year.

3. Max catch-up contributions at 50+ An extra $8,000/year (2026 limit) for 15 years at 7% growth adds approximately $201,000 to your balance by 65 (illustrative projection: contributions at the end of each year, annual compounding; ages 60-63 can contribute $11,250 instead, which would add more). Details: catch-up contributions guide.

4. Add a Roth IRA alongside your 401(k) The 2026 Roth IRA limit is $7,500 ($8,600 if 50+) for incomes below $153,000 single / $242,000 married filing jointly (full contribution). Additional tax-advantaged space on top of the 401(k).

5. Roll over old 401(k)s to reduce fees Higher fees take more out of your balance every year — a drag that compounds against you. Rolling over consolidates accounts and can lower fees. See how to roll over a 401(k).

6. Optimize fund selection — expense ratios matter In 2024, 401(k) participants invested in equity mutual funds paid an average expense ratio of 0.26%. Over 30 years, a 0.75 percentage point difference in fees on a $100,000 balance costs about $145,000 in forgone growth if returns before fees are 7% a year (annual compounding, no further contributions).

What $1M in Your 401(k) Actually Buys

Average Social Security retired-worker benefit as of August 2026: $2,087.52/month ($25,050/year). Maximum possible Social Security benefit for someone retiring in 2026 varies by claiming age: $2,969/month at 62, $4,152/month at full retirement age, or $5,181/month at 70 — these apply only if you earned the taxable maximum every year from age 22. Benefits are adjusted annually for inflation (COLA); confirm current figures at ssa.gov.

A $1M 401(k) + average Social Security produces $65,050/year — about 93% of a $70,000 pre-retirement income. For comparison, Fidelity’s planning guideline is for savings to provide about 45% of pretax, preretirement income. For total retirement savings benchmarks, see average retirement savings by age.

What’s Next

• 401(k) Balance by Age Calculator — Enter your balance and compare it with peers your age
• 401(k) Contribution Limits 2026 — $24,500 under 50; $32,500 if 50-59/64+; $35,750 if 60-63
• Catch-Up Contributions Guide — Maximize the extra $8,000 if you’re 50 or older
• Average 401(k) Employer Match — What match you should expect and how to capture it fully
• How to Roll Over a 401(k) — Consolidate old accounts and reduce fees
• Average Retirement Savings by Age — Total retirement wealth across all accounts
• 401(k) Complete Guide — Everything about 401(k)s in one place

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.