Retirement Retirement Planning

Here's How Much You Need in Your 401(k) Right Now Based on Your Age

How do you compare to other employees your age?

By Catherine Collins , Edited by Laura Hohenstein

Updated Sept. 1, 2026

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Fidelity, the brokerage firm that provides 401(k) accounts to millions of Americans, has recommended savings benchmarks for each age group. These benchmarks can help Americans determine whether they are on track for retirement.

Of course, 401(k) balances don't always tell the whole story. Median 401(k) balances by age are likely a better indicator of the typical American than the average 401(k) balance by age. Additionally, even if you are behind on 401(k) savings, you may still have access to other sources of income in retirement, such as Social Security.

Editor's note: Average and median balances are pulled from Empower data.

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The best retirement benchmarks, according to Fidelity

Here are the benchmarks that Fidelity recommends employees have by age.

Their experts recommend trying to save one times your salary by age 30, three times your salary by age 40, six times your salary by age 50, eight times your salary by age 60, and 10 times your salary by age 67.

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The average 401(k) balances in your 20s and 30s

When you're in your 20s and 30s, you are still in the early stages of your career. Many people this age are juggling various financial responsibilities.

For example, numerous people in early adulthood have student loan debt. Others may be paying for their children's day care or saving up for their first house. Costs are rising, making it more challenging to allocate money to a 401(k).

For people in their 20s, the average 401(k) balance is $125,180, and the median is $44,627. For people in their 30s, Empower shows that the average 401(k) balance is $223,429, and the median is $81,314.

Again, Fidelity recommends trying to save one times your salary by age 30. So, if you make $75,000 a year, the goal is to have $75,000 in your 401(k) by age 30.

Even if expenses are tight, the earlier you start investing, the better. When you're in your 20s and 30s, time is on your side. So, taking advantage of your employer match and contributing as much as possible can help you to have a larger nest egg in the future.

The average 401(k) balances in your 40s and 50s

When you're in your 40s and 50s, you're at the midpoint of your career. This is a time when, hopefully, your income has increased since your early career, and you're able to focus on increasing your contribution rates.

Empower data show that the average 401(k) balance for workers in their 40s is $425,142, and the median is $160,899. However, once workers reach their 50s, the average balance rises to $642,696, and the median is $252,501.

Workers who are able to increase their contributions, take advantage of their employer match, and avoid withdrawing money early during this time can help set themselves up for success in retirement.

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401(k) balances drop for people in their 60s

Fidelity says that people should aim to have eight times their salary at age 60. The data shows that the average 401(k) balance for people in their 60s is $582,546, and the median balance is $191,372.

If you feel like your retirement balance is not enough at this point, the good news is that people aged 60 to 63 can make super catch-up contributions to their 401(k)s. These contributions allow them to add an extra $11,250 on top of their 401(k) contribution limits.

The difference between median and average retirement savings

Although the data shows average retirement account balances, the median balances are much lower. That's because high earners with very large 401(k)s tend to skew the average balances higher.

The median balance is more representative of what a typical worker has at any given age. So if you don't have a 401(k) anywhere near the averages listed in the data, know that you are not alone among your age group.

Benchmarks don't account for multiple streams of income

The benchmarks that Fidelity provides don't account for multiple streams of income.

So, if you have an IRA, HSA, Social Security check, small business, or rental income, you might not need as large a 401(k) balance, though you should confirm that with a financial planner.

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Where to get advice about your retirement savings

If you're not sure whether or not you have enough saved for retirement, even if you plan to have multiple streams of income, get advice from a financial planner.

A financial planner can look at all of your accounts at once and make recommendations on a strategy in order to reach your retirement goals. They can also help you with optimizing your taxes, especially as you transition from working a salary job.

Bottom line

Ultimately, to make the right money moves in retirement, it's important to have a sufficient amount saved in your retirement account. However, Fidelity's recommended account balances don't take into account your spending habits, multiple streams of income, or your goals.

Your retirement plan is personal to you and how you want to live out your golden years. That's why it's a good idea to consult a financial advisor if you need help planning your future.

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Author Details

Catherine Collins

Catherine Collins is a nationally recognized personal finance writer with 15 years of experience who has made 401(k)s her specialty. She covers the policy changes, tax implications, rule updates, and common mistakes that shape how Americans save for retirement, translating Washington proposals and regulatory shifts into practical guidance. Her bylines include U.S. News and World Report, Newsweek, Money, and Entrepreneur.