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Here's The Average IRA Balance of 65-Year-Old Americans (How Do You Compare?)

A look at the average IRA balance for 65-year-olds, and practical steps to strengthen your savings as you head into retirement.

By Kristin Hitchcock

Edited by Andrea Basse

Updated Dec. 14, 2025

Turning 65 can feel like standing on a financial cliff edge. You've spent decades saving, but now retirement is no longer theoretical. It's here. One of the biggest questions people ask at this age is simple and a little nerve-racking: Is my IRA balance enough? Looking at national averages won't tell you everything, but it can give you a helpful reality check and a starting point for making smarter decisions in the years ahead.

In other words, this is a chance to see how well you've prepared for retirement compared to your peers.

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The average IRA balance for people around age 65

There isn't a single published figure specifically for 65-year-olds, but major investment firms give us a clear picture of what IRA balances look like for people in this age range. According to Fidelity's retirement data, Americans ages 65 to 69 held an average IRA balance of about $251,400. Vanguard's research shows similar patterns, with higher balances among older savers than among younger savers.

Keep in mind: averages are pulled up by very large accounts, so many people have far less, which is why your personal plan matters more than the national number.

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Why this average can be misleading

It's natural to compare yourself to the national average, but it doesn't necessarily reflect what's "enough." Cost of living, medical expenses, spouse income, Social Security timing, and lifestyle all play a major role in how long savings might last. Median balances, which reflect the middle saver, are often far lower than averages.

Plenty of people enter retirement with much smaller accounts and still manage comfortably by adjusting spending and structuring income thoughtfully. The average is a benchmark, not a judgment.

Ways to strengthen your IRA

While averages can give useful context, what matters most is how you manage your own nest egg from here. If you're looking to grow or stabilize your IRA as you enter retirement, several practical steps can help improve long-term outcomes. Below are some simple ways to get started.

Max out annual IRA contributions (including catch-up)

At 65, you're eligible for catch-up contributions, which can help boost your savings if you're still earning income.

It won't overhaul your account overnight, but steady contributions in these final working years could meaningfully strengthen your nest egg, especially if the money has time to compound before large withdrawals begin. Even small monthly amounts can make a difference.

Consider tax diversification: traditional vs. Roth

Traditional IRAs may offer upfront tax advantages, while Roth IRAs could provide tax-free withdrawals later. Some retirees explore partial Roth conversions before Required Minimum Distributions (RMDs) begin, especially during lower-income years.

This approach isn't right for everyone, since conversions trigger taxes, but it can potentially give retirees more flexibility in how they draw income later. A tax professional can help run the numbers based on your situation.

Be strategic about investment mix

At 65, many people shift from growth-only investing to a mix that balances growth and stability. That might mean reducing riskier holdings and adding more conservative assets, while still keeping some exposure to growth so the account doesn't stall.

The right balance depends on your withdrawal plans and comfort level with market swings. A well-diversified portfolio could help your IRA last longer, but there's no one-size-fits-all percentage split.

Minimize fees where you can

Investment and advisory fees are quiet but powerful. A seemingly small annual fee could reduce long-term returns more than most people expect. Comparing fund costs or switching to lower-expense investments might help keep more money working inside your IRA.

Cutting costs doesn't feel exciting, but over a retirement that could span 20 or 30 years, it may have a meaningful impact.

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Delay withdrawals if possible

Not everyone has the option to wait, but pushing off withdrawals (even for a year or two) might allow your balance to grow a bit longer. For many retirees, Social Security timing also plays a role in whether IRA withdrawals are necessary early on. Just remember that once RMDs begin, you'll be required to take a minimum amount each year. The goal isn't to hoard savings but to pace withdrawals in a thoughtful, sustainable way.

Consolidate old accounts for better oversight

If you've built savings across multiple employers or institutions, managing scattered accounts can be frustrating. Some retirees choose to roll old retirement plans into a single IRA for easier tracking and clearer investment strategy.

Consolidation doesn't increase your balance, but it might help reduce redundancy and make decisions feel less overwhelming. Just compare fees and tax rules before making any moves.

Don't overlook other income streams

Your IRA isn't your entire retirement picture. Social Security, pension income, part-time work, rental income, and spousal savings can all affect how much pressure you put on the account. Someone with modest IRA savings might still fare well if they have steady outside income. The key is viewing your IRA as part of a broader income plan, not the whole plan by itself.

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Talk to a professional before making big changes

IRAs involve tax rules and investment choices that can get complicated quickly. You don't need a financial advisor for every decision, but a one-time review could help you avoid costly mistakes, especially around withdrawals, RMDs, or conversions. A tailored plan might offer more clarity than trying to navigate everything alone.

Bottom line

The average IRA balance for Americans around age 65 lands near $251,400, but that number is only a reference point, not a measure of success or failure. What ultimately matters is how your savings and income sources work together to support the lifestyle you want in retirement.

IRA balances vary widely by account size, and a large share of investors actually hold less than the average because high-dollar accounts pull that number upward. It's important to periodically check up on your retirement readiness and confirm that your withdrawal strategy, tax plan, and investments still align with your long-term goals. In the end, what your IRA balance needs to be depends largely on your future plans, not the national average.

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