Retirement Savings by Age Calculator: See Your Savings Target by Age
Retirement account balances vary widely across U.S. households and generally grow through the working years as contributions and investment gains accumulate.
According to the latest data, 54.3% of U.S. households held retirement account assets, including 401(k)s, IRAs, and other defined contribution accounts.
Retirement Savings Calculator
Top 10% Retirement Savings By Age
See how much retirement savings top savers have at different ages and compare your 401(k), IRA and other retirement assets with age-based benchmarks.
See The Savings Guide
Average Retirement Savings by Age
Someone might have a 401(k), IRA, pension, brokerage account, or several of these.
Fidelity’s 401(k) data covers 25.8 million participants and provides a useful age-by-age benchmark.
Average 401(k) Balance by Age
Y Average 401(k) Balance ($) by X Age Group Hover over (or tap) a bar to see the balance.These figures represent Fidelity 401(k) participants, not every American in those age groups. They also don’t include savings held in IRAs, pensions, brokerage accounts, or bank accounts.
Are You Saving Enough For Retirement?
See how your retirement savings compare with age-based benchmarks, income goals and the amount you may need to support your lifestyle after you stop working.
Check Your Retirement Progress
Median Retirement Savings by Age
Among families that had retirement accounts, the latest figures were:
| Age | Median Savings | Average Savings |
|---|---|---|
| Under 35 | $18,880 | $49,130 |
| 35–44 | $45,000 | $141,520 |
| 45–54 | $115,000 | $313,220 |
| 55–64 | $185,000 | $537,560 |
| 65–74 | $200,000 | $609,230 |
| 75+ | $130,000 | $462,410 |
These figures apply only to families that reported having retirement accounts.
Median vs. Average Retirement Savings
- The median is the midpoint. Half of households have more than the median and half have less.
- The average is calculated by adding all balances and dividing by the number of households. Very large accounts can pull that number substantially higher.
For example, households ages 55–64 had a median retirement balance of $185,000, compared with an average of about $538,000.
That’s why the median can sometimes give you a better picture of what a typical account holder has than the average alone.
How Much Should You Have Saved by Different Ages?
What people actually have saved and what financial experts recommend saving are two different things.
| Age | Suggested Savings |
|---|---|
| 30 | 1× annual income |
| 40 | 3× annual income |
| 50 | 6× annual income |
| 60 | 8× annual income |
| 67 | 10× annual income |
For someone earning a salary of $75,000, that would mean:
| Age | Example Target |
|---|---|
| 30 | $75,000 |
| 40 | $225,000 |
| 50 | $450,000 |
| 60 | $600,000 |
| 67 | $750,000 |
What Can Change Your Retirement Savings Target?
Apart from your age and income, your target can also depend on:
- When you plan to retire
- Expected retirement spending
- Social Security
- Pension income
- Healthcare costs
- Housing expenses
- Debt
- Investment returns
- Whether you’ll work after 67
- Whether you want to leave money to heirs
Someone retiring at 70, for example, may need a different amount than someone planning to retire at 62.
Working longer can also give your investments more time to grow while reducing the number of years your savings need to support you.
What If You’re Behind on Retirement Savings?
If you are below an age-based benchmark, it doesn’t mean you’ve run out of time.
You need to ask: What can you change from here?
1. Increase Your Contribution Rate
Even a modest increase can make a meaningful difference over several years.
2. Get the Full Employer Match
If your employer offers matching contributions, contributing enough to receive the full match can add valuable money to your retirement account.
3. Increase Contributions After Raises
Instead of letting every raise disappear into higher spending, consider directing part of it toward retirement.
4. Use Catch-Up Contributions
Workers age 50 and older may have access to higher contribution limits for eligible retirement accounts.
5. Consider Working Longer
Delaying retirement gives your investments more time to grow and reduces the number of years your savings need to support you.
It can also affect your Social Security benefit depending on when you claim.
6. Review Your Retirement Spending
You may not need to save as much if your expected retirement expenses are lower.
- Housing
- Healthcare
- Travel
- Debt, and
- Lifestyle choices can all change the amount of income you’ll need.
7. Review Your Investment Strategy
Your investment mix should reflect your time horizon, goals, financial circumstances, and tolerance for investment losses.
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