Retirement savings values by age: A look at the typical sums amassed for retiring at various points in life.
In the United States, the average and median retirement savings vary significantly across different age groups, according to recent data from various sources in 2025.
Average Retirement Savings by Age
- Under 35: approximately $20,500 to $42,600 (average 401(k) savings varies by source)
- 35-44: about $41,500 to $91,281
- 45-54: around $71,130 to $168,646
- 55-64: roughly $72,520 to $244,750
- 65 and older: between $100,250 (savings accounts) and $272,588 (retirement accounts)
Vanguard reports an average 401(k) savings of $42,640 for ages 25-34, and an average retirement account balance of $272,588 for those 65 and older. Another source cites average savings account balances of $100,250 for ages 65 to 74. Fidelity IRA averages also show growth with age, e.g., $24,241 for Millennials (28-43), $100,431 for Gen X (44-59), and $250,209 for Boomers (60-78)[1][3][4][5].
Median Retirement Savings by Age
- Under 35: approximately $2,816 to $5,400
- 35-44: about $7,500 to $35,537
- 45-54: roughly $8,700 to $60,763
- 55-64: around $8,000 to $87,571
- 65 and older: about $13,400 to $88,488
Median values, which better represent a “typical” saver by reducing skew from very high balances, tend to be much lower than average amounts, indicating a wide disparity in savings among Americans[1][4][5].
Summary Table (approximate values combining multiple sources)
| Age Group | Average Retirement Savings | Median Retirement Savings | |-----------|----------------------------|--------------------------| | Under 35 | $20,500 to $42,600 | $2,800 to $5,400 | | 35-44 | $41,500 to $91,300 | $7,500 to $35,500 | | 45-54 | $71,000 to $168,600 | $8,700 to $60,800 | | 55-64 | $72,500 to $244,700 | $8,000 to $87,600 | | 65+ | $100,000 to $272,600 | $13,400 to $88,500 |
These figures show that while average savings climb significantly with age (reflecting longer time to save and market growth), median balances remain far lower, highlighting that many Americans have limited retirement savings[1][3][4][5].
It's worth noting that a survey conducted by AARP in April 2024 found that most people are entering their golden years with too little stashed away. Of the 54.3% of U.S. households that have any money in retirement accounts, only about 5% have $1,000,000 or more in retirement savings, and only about 9.3% have $500,000 or more[6].
[1] Vanguard. (2025). How America Saves for Retirement 2025. Retrieved from www.vanguard.com/retirement [2] Fidelity Investments. (2025). IRA Insights: How America Saves for Retirement 2025. Retrieved from www.fidelity.com/retirement [3] Employee Benefit Research Institute. (2025). 2025 Retirement Confidence Survey. Retrieved from www.ebri.org/rcs [4] AARP. (2025). 2025 AARP Retirement Survey. Retrieved from www.aarp.org/surveys [5] Federal Reserve Bank of St. Louis. (2025). Survey of Consumer Finances 2022. Retrieved from www.stlouisfed.org/scf [6] AARP. (2024). Most People Entering Retirement With Too Little Stashed Away, AARP Survey Finds. Retrieved from www.aarp.org/press-center/news-releases/info-2024/most-people-entering-retirement-with-too-little-stashed-away-aarp-survey-finds.html
- To boost your retirement savings, consider using a personal finance calculator to analyze your current spending and potential investment returns.
- The tax implications of retirement savings should be part of your analysis, as taxes can significantly impact your overall retirement income.
- Saving for retirement is a crucial aspect of personal-finance management, and the earlier you start, the more you can benefit from compounding interest.
- According to recent data, the median retirement savings for individuals aged 55-64 is approximately $8,000 to $87,571, demonstrating the need for targeted saving strategies.
- Investing in various financial instruments, such as stocks, bonds, and retirement accounts, can help you grow your savings and secure your financial future during retirement.
