Average Retirement Savings by Age in 2026: How Do You Compare?
The most-Googled question in personal finance: "Am I saving enough?" Here's where Americans actually stand in 2026 — and why the median matters more than the average.
2026 Retirement Savings by Age Group
Data from Vanguard's 2025 How America Saves report and Fidelity's Q4 2025 retirement analysis, adjusted for 2026 market performance:
| Age Group | Average 401(k) | Median 401(k) | Average Total Savings | Median Total Savings |
|---|---|---|---|---|
| Under 25 | $7,100 | $2,100 | $12,000 | $4,500 |
| 25–34 | $37,200 | $14,500 | $56,000 | $22,000 |
| 35–44 | $113,800 | $45,200 | $168,000 | $65,000 |
| 45–54 | $254,700 | $115,400 | $375,000 | $170,000 |
| 55–64 | $408,400 | $185,600 | $580,000 | $245,000 |
| 65+ | $426,100 | $200,200 | $620,000 | $275,000 |
⚠️ Why the median matters more than the average
The average is heavily skewed by high earners. A few people with $3M+ in their 401k pull the average WAY up. The median (the middle person) is a much better benchmark for "how am I actually doing?"
If your savings are above the median for your age group, you're doing better than most Americans.
How Much Should You Have Saved?
Fidelity's widely-cited age-based benchmarks:
| Age | Fidelity Target | Example ($75K salary) |
|---|---|---|
| 30 | 1× salary saved | $75,000 |
| 40 | 3× salary saved | $225,000 |
| 50 | 6× salary saved | $450,000 |
| 60 | 8× salary saved | $600,000 |
| 67 | 10× salary saved | $750,000 |
These are guidelines, not gospel. Your actual number depends on your Social Security income, other income sources, planned lifestyle, and where you live.
Behind? 7 Ways to Catch Up
1. Max Out Catch-Up Contributions
If you're 50+, you can contribute an extra $7,500/year to your 401(k) (total $30,500 in 2026). Ages 60-63 get an even larger super catch-up of $11,250 thanks to the SECURE 2.0 Act.
2. Use All Available Tax-Advantaged Accounts
- 401(k): $23,000 + $7,500 catch-up (50+)
- IRA: $7,000 + $1,000 catch-up (50+)
- HSA: $4,300 individual / $8,550 family (if eligible)
- Backdoor Roth: No income limit if done correctly
3. Delay Retirement by 2-3 Years
Working even 2 extra years has a triple effect: more contributions, more compound growth, and fewer years of withdrawals. It can increase your safe monthly spending by 15-25%.
4. Downsize Your Lifestyle Now
If you're 55+, reducing monthly expenses by $500 cuts your needed retirement savings by roughly $170,000 (at a 3.5% withdrawal rate).
5. Delay Social Security
Every year you delay SS past 62 increases your benefit by 6-8%. Delaying from 62 to 70 gets you 77% more monthly income — permanently. Use our Social Security Calculator to see your numbers.
6. Consider a Roth Conversion Strategy
If you're in a low-income year (between retirement and SS start), converting Traditional IRA to Roth at low tax rates can save tens of thousands in future taxes and reduce RMD surprises.
7. Build Part-Time Income
Even $1,500/month from consulting, freelancing, or part-time work in the first 5 years of retirement dramatically reduces portfolio pressure. Your portfolio gets time to grow rather than being drawn down immediately.
The Power of Compound Interest
If you invest $500/month starting at different ages, here's what you'd have at 65 (assuming 7% average annual return):
| Start Age | Years Investing | Total Contributed | Value at 65 |
|---|---|---|---|
| 25 | 40 | $240,000 | $1,197,811 |
| 35 | 30 | $180,000 | $566,765 |
| 45 | 20 | $120,000 | $260,464 |
| 55 | 10 | $60,000 | $86,994 |
Starting at 25 vs. 45 means the same $500/month gives you 4.6× more money. That's compound interest doing the heavy lifting — not bigger contributions.
What "Enough" Actually Looks Like
Forget the averages for a moment. What matters is whether YOUR savings, combined with Social Security and other income, cover YOUR expenses. Here's the real test:
- Calculate your annual retirement expenses (not your salary — your actual spending).
- Subtract Social Security and pension income.
- Divide the gap by 0.035 (3.5% withdrawal rate for a 25-year retirement).
That's your personal number. Not the average. Not Fidelity's guideline. Yours.
Calculate Your Actual Retirement Number
Factor in Social Security, portfolio mix, and your specific expenses.
The Bottom Line
If you're above the median for your age group, you're ahead of most Americans. But "most Americans" are undersaved — so aim for the Fidelity benchmarks if possible.
The single most important thing is to know your number and have a plan. The Americans who struggle most in retirement aren't the ones who saved "not enough" — they're the ones who never calculated what "enough" was and didn't plan their withdrawal strategy.
🎯 The best time to start was 10 years ago. The second best time is today.