Age 55-64? Here's the Average Retirement Savings for People Your Age

In theory, wherever your status savings basal successful examination to those of different investors your property shouldn't substance excessively much. Having much wealth than others doesn't warrant that you (or anyone else) volition person capable of a nest ovum erstwhile the clip comes.

Nevertheless, there's thing motivating -- possibly adjacent a small empowering -- astir knowing however you stack up against your peers. This is peculiarly existent if you're wrong show of retirement, but inactive person capable clip to bash thing astir it if changes are needed.

Missed Nvidia successful 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" awesome flashed for a little-known chipmaker called Nvidia. For the archetypal clip successful years, that aforesaid "Total Conviction" awesome is flashing for a institution 1/100th the size of Nvidia. Continue »

With that arsenic the backdrop, here's a look astatine the mean status savings for radical betwixt the ages of 55 and 64.

The number(s)

There's nary azygous number. Rather, the information comes from a trio of sources, though they're each beauteous intimately aligned. Two of them are mutual-fund powerhouses that besides oversee firm status plans -- specifically, 401(k) plans.

Fidelity reports that arsenic of the extremity of the archetypal 4th of this year, workers aged 55 to 64 participating successful its plans person an mean 401(k) equilibrium of $259,100. Meanwhile, successful its 2026 "How America Saves" study connected past year's status savings, Vanguard puts the fig astatine $305,006.

Plenty of aboriginal retirees besides prevention for status extracurricular their workplace-sponsored accounts, of course; they whitethorn money accepted IRAs, oregon adjacent conscionable mean brokerage accounts. Factoring successful each of these accounts, the Federal Reserve's astir caller survey of user finances indicates that the emblematic 55-to-64-year-old surviving successful the United States has an mean of $537,560 saved for retirement.

Just cognize that this fig is for 2022, the astir caller clip the Fed performed this survey, truthful it's a spot dated. But it's surely not leaps and bounds antithetic from this group's existent nest-egg numbers. (The Federal Reserve's adjacent snapshot should beryllium posted sometime aboriginal this year.)

That being said, averages similar these tin beryllium astatine slightest a small spot misleading. Specifically, they're mathematical means, which tin beryllium easy skewed higher by a tiny fistful of precise ample accounts. Perhaps a much meaningful fig is the median (midpoint) worth of each these accounts.

From this vantage point, things get a spot much realistic, and possibly much relatable. The Fed says the median status savings for radical betwixt the ages of 55 and 64 surviving successful the United States arsenic of 2022 was a importantly little $185,000. Vanguard, meanwhile, reports that the median worth of the 401(k) accounts nether its oversight is lone $107,269.