Overview
- Only 51% of U.S. households ages 65 to 74 reported retirement accounts in 2022, with a $200,000 median among account holders, according to the Federal Reserve’s Survey of Consumer Finances.
- The latest plan-provider snapshots show starkly different 401(k) averages for people in their 50s, from $188,643 in Vanguard’s data to $635,320 in Empower’s, with Fidelity reporting a $144,400 overall average as of late 2025.
- Fidelity reports record IRA balances, with an overall average of $137,902 in Q3 2025 and age-specific averages of about $199,900 for ages 50–54 and $244,900 for ages 55–59.
- Medians paint a more realistic picture than means, as illustrated by Vanguard’s finding that savers ages 55–64 held a $271,320 average 401(k) balance versus a $95,642 median.
- Guidance centers on saving five to six times annual income by age 50 and leveraging 2026 limits that allow $24,500 to 401(k)s and $7,500 to IRAs, with catch-ups lifting those to $32,500 and $8,600 for people 50 and older.