Retirement Planning
At a Glance
Median, ages 55-64 (2022 SCF)
$185,000
Fidelity milestone by age 67
10x salary
Average 401(k) balance, Q1 2026
$141,000
Quick Answer
Retirement savings by age, according to Fidelity’s widely used salary-multiple benchmarks:
- Age 30: 1x your annual salary
- Age 40: 3x your annual salary
- Age 50: 6x your annual salary
- Age 60: 8x your annual salary
- Age 67: 10x your annual salary
These are recommended planning milestones, not a measurement of what most households actually have saved. Actual average and median balances, drawn from the Federal Reserve’s household survey, are shown separately below so the two aren’t confused with each other.
What Benchmark, Average, Median, and Personal Target Mean
These four terms answer different questions, and mixing them produces misleading comparisons. This guide keeps them separate throughout.
Benchmark
A planning target based on stated assumptions, such as Fidelity’s salary multiples. It isn’t anyone’s actual balance; it’s a milestone to plan against.
Average
The arithmetic mean of observed balances. A relatively small number of very large accounts can pull this figure well above what a typical household holds.
Median
The midpoint of observed balances. Usually the more useful comparison for a typical account-holding household.
Personal target
What your own household actually needs, based on spending, retirement age, Social Security, pensions, and other income. This is the only figure that answers “is this enough for me.”
This guide is for anyone comparing their own retirement savings against typical benchmarks and balances by age. If you’re looking for a specific action plan rather than benchmark data, jump straight to the guide for your decade below.
Retirement Savings Benchmarks by Age
The most widely used framework comes from Fidelity Investments. Fidelity’s milestones assume saving 15% of income annually starting at age 25, including any employer match, maintaining an age-appropriate investment mix with more than half in stocks on average, retiring at 67, and aiming to maintain a similar lifestyle in retirement.
Other firms use different assumptions. T. Rowe Price publishes income-dependent benchmark ranges rather than one universal multiple, which is a reminder to treat any single benchmark as a planning reference, not a pass-or-fail test.
| Age | Fidelity target | On $60k salary | On $75k salary | On $100k salary |
|---|---|---|---|---|
| 30 | 1x salary | $60,000 | $75,000 | $100,000 |
| 40 | 3x salary | $180,000 | $225,000 | $300,000 |
| 50 | 6x salary | $360,000 | $450,000 | $600,000 |
| 60 | 8x salary | $480,000 | $600,000 | $800,000 |
| 67 | 10x salary | $600,000 | $750,000 | $1,000,000 |
Source: Fidelity Investments retirement savings guidelines. These are planning milestones under Fidelity’s stated assumptions, not a measurement of actual savings.
Actual balances vary widely and shouldn’t be treated as a direct test against Fidelity’s milestones. The Federal Reserve data below measures what account-holding families report having across broad age bands, while Fidelity’s figures are planning targets tied to exact ages and a specific salary. The more useful question is what these reference points mean for your own numbers, covered in the decade guides linked further down.
Average and Median Retirement Savings by Age
The Federal Reserve’s 2022 Survey of Consumer Finances is the most authoritative source for actual U.S. household retirement-account balances. These figures describe families that reported holding a retirement account; households without one aren’t part of this calculation, and age reflects the household reference person.
| Age group | Median balance | Average balance |
|---|---|---|
| Under 35 | $18,880 | $49,130 |
| 35-44 | $45,000 | $141,520 |
| 45-54 | $115,000 | $313,220 |
| 55-64 | $185,000 | $537,560 |
| 65-74 | $200,000 | $609,230 |
Source: Federal Reserve 2022 Survey of Consumer Finances. Median and average balances are among families that reported holding retirement accounts, not among all U.S. households. Dollar values are in 2022 dollars.
Why Median Is Usually More Useful Than Average
Average balances are pulled upward by a relatively small number of very large accounts. The median describes the family in the exact middle of the distribution among account holders, which generally makes it the more useful comparison for a typical household.
Average 401(k) Balance by Age
Separately from total retirement savings, Fidelity reports current 401(k) balances by exact age band among its own plan participants. These are averages among active participants, not medians, and they don’t include IRAs, pensions, or other accounts a household may also hold.
| Age | Average 401(k) balance |
|---|---|
| 20-24 | $7,700 |
| 25-29 | $26,600 |
| 30-34 | $51,700 |
| 35-39 | $81,600 |
| 40-44 | $120,100 |
| 45-49 | $163,200 |
| 50-54 | $215,700 |
| 55-59 | $260,800 |
| 60-64 | $257,400 |
| 65-69 | $258,800 |
| 70+ | $264,500 |
Source: Fidelity Investments 401(k) data, based on 25.6 million participants across 26,800 corporate plans as of March 31, 2026. A 401(k) balance is one part of retirement savings, not the total. These figures are averages among Fidelity plan participants and don’t include IRAs or other retirement assets.
Benchmark vs Average vs Median: Which Number Should You Use?
| Number | What it tells you | Best use |
|---|---|---|
| Fidelity benchmark | Suggested planning milestone | Long-term target |
| Average | Mean observed balance | Broad market comparison |
| Median | Midpoint observed balance | Typical account-holder comparison |
| Personal projection | Your expected retirement need | Actual planning |
None of these numbers, on their own, can tell you whether your household is on track. In the Federal Reserve’s own 2025 household survey, only 35% of non-retirees said their retirement savings plan was on track, a share that’s stayed roughly flat for several years. That shows many people feel behind without assigning a precise national percentage that benchmark and balance data can’t measure directly.
For your own number, start with how much to save for retirement, or plug your own inputs into the retirement savings calculator.
Retirement Savings by Age and Income
The dollar target at every age scales directly with salary, since Fidelity’s benchmark is expressed as a multiple of income rather than a fixed number. The benchmark table above shows this at $60,000, $75,000, and $100,000: at age 50, for example, the target ranges from $360,000 to $600,000 depending on salary alone, before any other personal factor is considered. A higher income doesn’t change the multiple, only the dollar amount it represents.
Find the Retirement Guide for Your Decade
Each guide below covers the specific actions, account choices, and tradeoffs that matter most at that stage. This page focuses on where the benchmarks stand; the guides below cover what to do about it.
In your 20s
Target: 1x salary by 30. Time is the biggest asset you have; starting now matters more than starting big.
Retirement Savings in Your 20sIn your 30s
Target: heading toward 3x salary by 40. Often the decade of balancing a mortgage, kids, and contributions at once.
Retirement Savings in Your 30sIn your 40s
Target: 3x salary by 40, heading toward 6x by 50. See the 40s guide for account choices and how to weigh competing priorities.
Retirement Savings in Your 40sIn your 50s
Target: 6x salary by 50, 8x by 60. See the 50s guide for catch-up contribution rules and retirement-timing decisions.
Retirement Savings in Your 50sHow to Use These Benchmarks
- Compare your own balance against the benchmark for your age.
- Compare it against the median and average as additional context, not a verdict.
- Estimate your own retirement need based on your spending, timeline, and income sources.
- Use a calculator rather than treating any single peer number as a pass or fail result.
FAQ
What is the average retirement savings by age?
According to the Federal Reserve’s 2022 Survey of Consumer Finances, average retirement-account balances range from $49,130 for families under 35 to $609,230 for families ages 65-74, among families that hold retirement accounts. Averages are pulled well above the median by a relatively small number of very large accounts.
What is the median retirement savings by age?
Federal Reserve 2022 data shows median balances ranging from $18,880 for families under 35 to $200,000 for families ages 65-74, among families that hold retirement accounts. Median is generally the more useful figure for judging where a typical household stands.
How much should I have saved for retirement by age?
Fidelity’s widely used guideline suggests 1x your salary by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67, assuming a 15% savings rate from age 25 including any employer match. These are planning milestones under stated assumptions, not a measurement of what most people actually have.
How much should I have in my 401(k) by age?
Fidelity’s own participant data puts the average 401(k) balance at $120,100 for ages 40-44, $215,700 for ages 50-54, and $257,400 for ages 60-64, as of March 31, 2026. These are 401(k)-only averages among Fidelity participants, not total retirement savings.
What is the difference between average and median retirement savings?
The median is the balance of the family exactly in the middle of the distribution among account holders. The average is the total balance divided by the number of account holders. A relatively small number of very high balances pulls the average well above the median.
Are Fidelity retirement savings benchmarks realistic?
Fidelity’s milestones aren’t a measurement of typical outcomes. Federal Reserve balance data measures actual balances using a different population and methodology, while Fidelity’s benchmarks remain useful as directional planning targets built on disclosed assumptions.
Does retirement savings include IRAs and brokerage accounts?
Yes. Retirement savings generally includes any assets intentionally set aside for retirement: workplace plans, IRAs, pensions, annuities, and taxable brokerage accounts earmarked for that purpose. Net worth is broader still, covering all assets minus all liabilities, including home equity.
How do I know if I am on track for retirement?
There’s no single number that answers this for everyone. Comparing your balance to the Fidelity benchmark or the Federal Reserve median for your age is a starting reference point, not a verdict. The retirement savings calculator and how much to save for retirement can help you test your own spending, income sources, and timeline.
SCF median balances are lower than the illustrative Fidelity targets shown for the example salaries above, but the two datasets use different populations and shouldn’t be treated as a direct measure of who is on track. What matters from here: your own savings rate, your consistency, and the guide that matches your decade.
Sources and Methodology
Federal Reserve Survey of Consumer Finances, 2022 (actual U.S. household retirement-account balances among account-holding families); Federal Reserve Report on the Economic Well-Being of U.S. Households in 2025, published 2026 (retirement-preparedness sentiment); Fidelity Investments retirement savings guidelines (the 1x/3x/6x/8x/10x salary framework) and Fidelity 401(k) balance-by-age data, as of March 31, 2026; T. Rowe Price retirement savings benchmarks (secondary comparison).
Last updated: August 2026
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