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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 ...
For instance, if you’re 30 years old and earn $75,000, you should try to have that much saved in your 401(k). If you’re 40 years of age earning $120,000 a year, your account should have around ...
That same $75,000 salary would equate to a 401(k) balance of $450,000 by the time you reach 50. The median balance for those aged 45-54 indicates that at least half of workers are not even close ...
In the latest report released in 2024, Vanguard found the average 401(k) balance across all age groups is $134,128. For those aged 35 to 44, however, the average balance is much lower at $91,281.
Contributing to a 401(k) is one of the easiest and most effective ways to save for retirement. The 401(k) offers a contribution limit of $23,500 per year in 2025, compared to just $7,000 per year ...
Here's a look at the average 401(k) balance for people in different age groups, per the folks at Vanguard, which administers the 401(k) accounts of millions of people: Age Average 401(k) Balance
It's critical to have a savings goal unique to your situation, but sometimes it helps to see how you compare.
Employees age 50 and older can make additional, “catch-up” contributions totaling $7,500 if the 401(k) plan permits it. The deferral limit, then, is $30,500 for employees ages 50 and older.
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