Retirement Retirement Planning

Here’s the Average 401(k) Balance of Americans at Every Age (How Do You Compare?)

See how your 401(k) balance compares by age group

By Kristin Hitchcock , Edited by Andrea Basse

Updated April 6, 2026

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A 401(k) used to feel like something you'd "figure out later." That's no longer the case. With fewer pensions and rising costs, the money you set aside now plays a much bigger role in your future. Whether you're just getting started or already thinking about retirement, your balance can shape the options you'll have later.

That's why it helps to see how others are doing. Not to compete, but to get a sense of what's typical and how well you've prepared for retirement so far. Below, you'll find the average and median 401(k) balances by age, plus what those numbers might actually mean in real life.

Editor's note: 401(k) balance data comes from Empower's latest retirement analysis using data from its Personal Dashboard. Figures may skew higher due to more engaged investors using the platform.

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Why average and median 401(k) balances tell different stories

If you've ever looked at these numbers and thought, "That seems high," you're not alone.

The average gets pulled upward by a smaller group of high earners who have been maxing out contributions for years. The median is often a better reality check. It shows what the middle person has saved, not the outliers.

That gap matters. It explains why many people feel behind even when they're close to the median. It also highlights how uneven retirement savings can be across households.

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In your 20s

Average balance: ~$116,872
Median balance: ~$43,192

These numbers surprise a lot of people.

In reality, many people in their 20s are still getting started. Some are contributing early and consistently, especially if they landed a job with a good match. Others are focused more on rent and debt (or just trying to figure out how their benefits even work).

The wide gap between average and median suggests a split. A smaller group is way ahead. Most are still building momentum.

In your 30s

Average balance: ~$212,356
Median balance: ~$78,857

Your 30s are usually when things begin to get more serious.

Income is typically higher than in your 20s, and employer matches can start to make a noticeable difference. But this is also when life starts to get more expensive. Housing, kids, and debt can all compete with retirement savings.

Some people hit their stride here. Others feel like they're constantly trying to catch up. Both experiences are reflected in the numbers.

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In your 40s

Average balance: ~$409,686
Median balance: ~$156,675

Retirement in your 40s stops feeling so abstract. Many people start actually picturing it, and if your balance isn't where you'd like it to be, that realization can feel uncomfortable.

On the flip side, if you've been contributing steadily, this is when compounding really starts to show up. Growth feels more noticeable. Progress feels more real.

In your 50s

Average balance: ~$629,000
Median balance: ~$246,554

For many people, this is the decade for making up ground.

You can contribute more once you hit 50, which helps. Many people also hit their peak earning years here, which gives them more room to save.

However, the average and median gap gets even wider. Some people are in a strong position, while others are realizing they may need to adjust expectations or timelines.

In your 60s

Average balance: ~$576,755
Median balance: ~$187,249

At some point in your 60s, it becomes less about building your 401(k) and more about making decisions. Are you actually ready to retire? Do you want to? Can you afford to? What does that retirement look like?

Some people are still contributing well into their 60s, especially if they put off retirement. However, many people are starting to withdraw, and the numbers show this. From this point on, 401(k) balances typically creep down as the money in them gets used.

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In your 70s

Average balance: ~$431,834
Median balance: ~$95,931

At this stage, the vast majority of people are no longer contributing to their 401(k) balances. They're using it.

Typically, this means the balance will slowly drop over time.

What stands out here is how low the median is compared to the average. It's a reminder that many retirees are working with tighter margins than you might expect.

In your 80s

Average balance: ~$429,614
Median balance: ~$77,086

By their 80s, many people's 401(k)s are no longer growing like they once were. Withdrawals and health care costs have all taken their toll. Many have been living off their balances for a decade or more. Retirees are relying more on Social Securirty or other support, especially if they're closer to the median balance.

This stage really highlights something people don't always think about early on. It's not just about reaching retirement. It's about sustaining it.

How do you know if you're on track?

This is usually the question people actually want answered when they start looking at averages. But looking at these numbers only gives you part of the story.

Your income, lifestyle, debt, and when you started saving all matter just as much as your current balance. Someone with a smaller 401(k) but lower expenses might be in a better position than someone with a larger balance and higher costs.

If you're behind, that doesn't automatically mean that you've failed your retirement goals. It might just mean that you need to adjust what you're doing next.

Bottom line

The average 401(k) balance can look impressive, but the median is closer to what the average person actually has. Most people build their savings up gradually, often while juggling other financial priorities. Where you stand today matters less than whether your current habits are moving you in the right direction.

If you're looking to supercharge your retirement savings, consider increasing your contributions by just 1% each year. Small adjustments like that can add up more than expected and help set yourself up for retirement without drastically changing your day-to-day budget.

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