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Heads up: You might find these numbers a little surprising.
Bạn đang xem: This Is the Average 401(k) Balance for Ages 35 to 44
All told, retirement planning may not top your to-do list when you’re in your late 30s or early 40s. But here’s the deal: if you’re after a comfy retirement, you want to start squirreling away funds as early as possible to lighten the load later. Need a little nudge? Checking out how your peers are stacking their 401(k) balances could get you moving in the right direction.
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We’ve popped open the hood to show you how others are faring.
Image source: Getty Images.
Average 401(k) balance for workers age 35 to 44
By the end of 2023, the average 401(k) balance for those aged 35 to 44 clocked in at $91,281. Meanwhile, across all age groups, the average balance stood at $134,128. These nuggets of data come straight from Vanguard’s “How America Saves 2024” report, which delves into the retirement savings habits of nearly 5 million account holders.
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Here’s a peek at how other age groups are doing.
Age | Average 401(K) Balance | Median 401(K) Balance |
---|---|---|
Younger than 25 | $7,351 | $2,816 |
25 to 34 | $37,557 | $14,933 |
35 to 44 | $91,281 | $35,537 |
45 to 54 | $168,646 | $60,763 |
55 to 64 | $244,750 | $87,571 |
65 and older | $272,588 | $88,488 |
All age groups | $134,128 | $35,286 |
Data source: How America Saves 2024, Vanguard. Chart by author.
It’s no surprise that younger folks tend to have slimmer 401(k) balances than those heading into retirement. But here’s the eye-opener: the median 401(k) balance for those aged 35 to 44 sits at just $35,537, meaning half of these savers have less stashed away. The median can give you a better snapshot of the norm, while the average can be skewed by a few accounts with a lot of money in them.
Of course, your projected income and expenses in retirement are the numbers you need to pay attention to. Once you have a ballpark estimate, you’ll know if there’s more savings to do or if you’re on track to live the retirement you’ve dreamed of.
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