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Here's how age groups stack up on average and median 401(k) balances as of 2024: Age. Average account balance. Median account balance. 25 and younger. $7,351. $2,816. 25 to 34. $37,557. $14,933.
Here's how much the typical American baby boomer has saved for retirement — how do you stack up right now? ... the average retirement savings balance was $333,940. That might sound like a ...
This is the average 401(k) balance for every age group ... Boomers: $242,200. This is up considerably across every age group compared with Fidelity's data from the first quarter of 2023 reported ...
It's critical to have a savings goal unique to your situation, but sometimes it helps to see how you compare.
The average 401(k) balance reflects the fact that many people have saved quite a bit more than $244,750 . Alas, the median balance reveals that many people have saved quite a bit less.
For baby boomers, the average balance was $241,200 in Fidelity 401(k) plans. For Gen X employees in Fidelity plans, the average balance was $178,500. For millennials, those born between 1981 and ...
The youngest among the baby boomer generation are set to retire over the next few years. ... While the typical worker can contribute $23,000 to a 401(K) and $7,000 to an IRA in 2024, older ...
Average 401(k) balances among older Americans. Below you can see the average and median 401(k) balances for people in their 40s and beyond. The data is from Empower’s free online financial ...
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