Retirement Milestone: The 401(k) Balance That Puts 65-Year-Olds Ahead of the Pack
If you are nearing retirement, the average 65-year-old has roughly $300,000 in their 401(k), but there's more to know than just that.
Overview
It is very hard to avoid comparing yourself to others, even though it can be harmful emotionally. And one of the biggest yardsticks in the world is wealth. Which is why it is relevant that the average 65-year-old has roughly $300,000 in their 401(k), according to Vanguard's How America Saves 2025 report. But that number needs some explanation.
To lay out the full picture, those under 25 have an average of around $7,000 in their 401(k) accounts at Vanguard. The 25 to 34-year-old age group has nearly $43,000. The 35 to 44-year-old age group has $104,000. The 45 to 55-year-old age group has just shy of $190,000. The 55 to 64-year-old age group has just over $270,000. And, as already noted, the 65-and-over age group has roughly $300,000. If you are shooting to be better than average with your 401(k) balance, those are the numbers you need to target.
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Originally published at www.fool.com.