Average 401(k) Balance by Age (2026 Data & Benchmarks)
We cross-referenced four authoritative sources — Vanguard, Fidelity, the Federal Reserve’s Survey of Consumer Finances (SCF), and the Employee Benefit Research Institute (EBRI) — to give you the most complete picture of how your 401(k) stacks up. Spoiler: the median is always the number that matters.
Benchmarks show where you are -calculators show how to close the gap
If your current balance is below the median or below Fidelity's salary multiple, run your own projection and test how much faster a higher contribution rate closes the shortfall.
Average vs Median. Averages are pulled upward by a small number of mega-balances. Medians (the person exactly in the middle) tell you where a typical American stands. Always compare to the median first.
Vanguard: “How America Saves 2024”
Vanguard administers 401(k) plans for ~5 million active participants — the single largest real-world dataset on US defined-contribution accounts.
| Age Range | Average Balance | Median Balance | Median / Average Ratio |
|---|---|---|---|
| < 25 | $7,351 | $2,816 | 38% |
| 25–34 | $37,557 | $14,933 | 40% |
| 35–44 | $91,281 | $35,537 | 39% |
| 45–54 | $168,646 | $60,763 | 36% |
| 55–64 | $244,750 | $87,571 | 36% |
| 65+ | $272,588 | $88,488 | 32% |
Source: Vanguard — How America Saves 2024 (PDF), reporting 2023 year-end balances across 1,700+ Vanguard DC plans.
Federal Reserve: Survey of Consumer Finances (SCF)
The SCF is the Fed’s triennial household-level survey — the gold-standard data source for US wealth. It captures all retirement accounts (IRAs + 401(k) + 403(b) + 457) per family. Because it includes families with no retirement accounts, medians skew lower.
| Age of Family Head | % With Any Retirement Account | Conditional Mean | Conditional Median |
|---|---|---|---|
| < 35 | 50.2% | $49,130 | $18,880 |
| 35–44 | 62.7% | $141,520 | $45,000 |
| 45–54 | 64.4% | $313,220 | $115,000 |
| 55–64 | 62.6% | $537,560 | $185,000 |
| 65–74 | 54.6% | $609,230 | $200,000 |
| 75+ | 45.7% | $462,410 | $130,000 |
Source: Federal Reserve Board, 2022 Survey of Consumer Finances (released October 2023). Conditional values are for families with a retirement account only. “Conditional Median” is Fed’s term for the median among holders.
EBRI: 401(k) Account Activity Database
The Employee Benefit Research Institute / Investment Company Institute (EBRI/ICI) 401(k) Database tracks ~27 million 401(k) participants across ~110,000 plans — the most granular longitudinal 401(k) data in the US.
| Age | 0–2 yr tenure | 5–10 yr tenure | > 30 yr tenure |
|---|---|---|---|
| 20s | $6,440 | $24,680 | — |
| 30s | $14,770 | $56,340 | — |
| 40s | $30,250 | $117,430 | $284,580 |
| 50s | $48,860 | $181,900 | $482,940 |
| 60s | $64,020 | $235,480 | $570,980 |
Source: EBRI Issue Brief No. 593 (November 2023).
Fidelity: Q4 2023 Retirement Analysis
Fidelity services ~45 million retirement accounts across 401(k), IRA, and 403(b) products. Its quarterly reports are the most frequently cited in mainstream personal-finance media.
| Year | Average 401(k) Balance | Year-over-Year |
|---|---|---|
| 2013 | $89,300 | — |
| 2015 | $92,700 | +3.8% (2Y) |
| 2017 | $104,300 | +12.5% (2Y) |
| 2019 | $112,300 | +7.7% (2Y) |
| 2021 | $130,700 | +16.4% (2Y) |
| 2022 (bear market) | $103,900 | −20.5% |
| 2023 | $118,600 | +14.1% |
Source: Fidelity Q4 2023 Retirement Analysis.
Retirement Plan Participation by Age (Census BLS)
Balances only matter if you’re participating. Bureau of Labor Statistics data shows wide gaps in access and uptake:
| Wage Quartile | Has Access to 401(k) | Participates | Take-up Rate |
|---|---|---|---|
| Lowest 25% | 41% | 19% | 47% |
| Second 25% | 62% | 42% | 68% |
| Third 25% | 74% | 59% | 80% |
| Highest 25% | 82% | 71% | 87% |
Source: US Bureau of Labor Statistics National Compensation Survey, March 2023 (Table 2).
Why the Median Matters More Than the Average
Consider age 55–64 in Vanguard’s 2023 data:
- Average balance: $244,750
- Median balance: $87,571
- Gap: $157,179
That $157K gap exists because a small minority of high-income savers with $1M+ balances pull the average up. If you beat the median, you are ahead of half of Americans in your age group. If you only beat the average, you may actually be behind most peers — the average is that deceiving.
Fidelity’s Income-Multiple Benchmark
A cleaner way to benchmark: multiples of your income.
| Age | Target (× salary) | $60K salary | $100K salary | $150K salary |
|---|---|---|---|---|
| 30 | 1× | $60,000 | $100,000 | $150,000 |
| 35 | 2× | $120,000 | $200,000 | $300,000 |
| 40 | 3× | $180,000 | $300,000 | $450,000 |
| 45 | 4× | $240,000 | $400,000 | $600,000 |
| 50 | 6× | $360,000 | $600,000 | $900,000 |
| 55 | 7× | $420,000 | $700,000 | $1.05M |
| 60 | 8× | $480,000 | $800,000 | $1.20M |
| 67 | 10× | $600,000 | $1.00M | $1.50M |
Source: Fidelity Viewpoints, “How much do I need to retire?” Assumes 15% savings rate starting age 25, 50% income replacement with Social Security, retirement at 67.
Where Do You Sit? 401(k) Balance Percentiles (SCF)
Percentiles give a more granular sense of where your balance places you among peers.
| Age | 25th pctile | 50th (median) | 75th pctile | 90th pctile |
|---|---|---|---|---|
| < 35 | $5,500 | $18,880 | $52,000 | $139,000 |
| 35–44 | $13,500 | $45,000 | $142,000 | $411,000 |
| 45–54 | $32,000 | $115,000 | $340,000 | $910,000 |
| 55–64 | $48,000 | $185,000 | $540,000 | $1,450,000 |
| 65–74 | $60,000 | $200,000 | $580,000 | $1,600,000 |
Source: Author’s extraction from Federal Reserve SCF 2022 public microdata. Rounded. For families holding any retirement account.
Falling Behind? Catch-Up Blueprint
- Push contributions to 15–20% of salary immediately — even if it hurts in the short term.
- After 50, use the full $8,000 catch-up. Every plan is required to offer it.
- After 60 (SECURE 2.0), use the $11,250 super catch-up. Age 60–63 only.
- Max a Roth IRA ($7,000, or $8,000 age 50+) every year alongside the 401(k).
- Side income → Solo 401(k). Freelance or consulting earnings unlock a second, independent $70K employer-side limit.
- Delay Social Security to 70. Each year past FRA adds ~8% to your benefit — effectively a 76% boost vs claiming at 62.
- Work 2–3 extra years. Every year of delayed retirement both adds savings and subtracts one year of withdrawals — one of the strongest correction levers.
What the Data Also Reveals (Inequities)
- Access gap. Only 41% of the lowest wage quartile have 401(k) access, vs 82% of the highest (BLS 2023).
- Tenure amplifier. EBRI data shows >30-year tenure workers in their 60s average $570,980 — 9× their short-tenure peers. Staying in plan matters.
- Median declines after 65. As retirees draw down balances, the SCF median for 75+ falls below ages 65–74. A plan for sequencing withdrawals is as important as a plan for accumulation.
Run Your Own Numbers
Compare your current balance to where you need to be with our 401(k) calculator or long-horizon estimator. Adjust contribution rate to see how fast the gap closes.
Frequently Asked Questions
What is the average 401(k) balance by age in the US?
According to Vanguard's 2024 'How America Saves' report, the average 401(k) balance ranges from $7,351 for workers under 25 to $272,588 for those 65 and older. However, medians are dramatically lower -$88,488 for 65+ -because a small number of high-balance savers skew the average upward.
Should I use the average or the median for benchmarking?
Median. The median is the balance of the person exactly in the middle. Averages are distorted by outliers: a few executives with $3M balances pull the 'average' for 55?64 up by nearly $160,000 above the median. Beating the median means you're doing better than half of Americans your age.
Is my 401(k) balance too low?
Compare against both peer medians (Vanguard data) and income-based targets (Fidelity recommends 1? salary by 30, 3x by 40, 6x by 50, 10? by 67). If you're behind both, use the catch-up contributions ($8K age 50+, $11.25K age 60?63) and push savings to 20%+ of salary.
How We Reviewed This Page
Methodology
- Cross-referenced Vanguard, SCF, EBRI/ICI, Fidelity, and supporting labor-market data, then normalized the page so readers can see which datasets cover 401(k)s only versus all retirement accounts.
- Pulled both average and median figures into the same page because balance benchmarking without that distinction is misleading.
- Paired each benchmark section with a tool path so readers can move from peer comparison to an actual catch-up plan.
This Page's Original Judgment
- Median is the anchor number for real-world benchmarking; averages are too distorted by high-balance outliers to stand alone.
- Tenure and plan access matter almost as much as age, which is why this page goes beyond simple age buckets and highlights plan-coverage differences.
2026 Update Record
- Revalidated the cited source links and kept the benchmark commentary aligned with the page's current dataset mix.
- Confirmed that 2026 catch-up and retirement-target references still match the site's contribution and projection tools.
- Updated the post-benchmark calls to action so readers can immediately test higher savings, later retirement, or side-income catch-up strategies.