Retirement Retirement Planning

Here's the Average 401(k) Balance of 67-Year-Old Americans (How Do You Compare?)

Here's how 67‑year‑olds really stack up on 401(k) savings today.

By Tobi Amure, CFEI® , Edited by Calista Headrick

Updated April 24, 2026

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If you are 67, it's very normal to wonder, "Is my 401(k) enough?" You might hear big numbers on TV or from friends and feel a little behind. That feeling can sting, especially when you're already retired or thinking about stopping work soon.

Here's the good news: the "average" numbers you see often hide how real people live. A small group of high savers pulls the averages up. So what do people in their late 60s really have? Let's see what the numbers come out to and then discuss how to build your own plan to stay on track for retirement.

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The average 401(k) balance around age 67

There is no official figure as to precisely age 67, but we can get pretty close. According to Vanguard's 2025 "How America Saves" report, individuals aged 65 years and above have an average 401(k) balance of approximately $299,442.

If your 401(k) sits somewhere near this amount, you're near many peers. If it's higher, you may be ahead of the crowd on this one measure.

However, average numbers can be confusing because very large accounts raise the overall figure. The median 401(k) balance shows the "middle" saver more clearly. According to the Vanguard report, the median 401(k) balance among individuals aged 65 and older is $95,425. So, if your 401(k) looks closer to $100,000 than $300,000, you're definitely not alone.

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Why your 401(k) might be lower than the average

If your 401(k) is below the average, there are usually clear reasons. You may have left work to raise children, care for parents, or address health issues. You might have been in occupations that lacked good retirement plans or employer matches.

The balance can also be affected by stock market ups and downs, particularly when you paused saving during tough years. And remember, not everyone has a 401(k) alone; some have money in other types of IRAs, pensions, or ordinary investment accounts. You must look at your whole retirement picture, as opposed to a single account.

How much do experts suggest by your late 60s?

Fidelity suggests aiming for about 10 times your annual salary in total retirement savings by age 67. That includes 401(k)s, IRAs, and other accounts together, not just one plan.

But that "10 times salary" number is only a rough guide, not a hard rule. Greater needs may arise for others with increased medical or housing expenses. Consider it as a point at which to begin a conversation — not as a pass-fail grade.

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Strategies to strengthen your 401(k) plan

When your 401(k) balance doesn't seem as large as you had hoped, you still have levers to push. Certain moves can help you build on what you have and make you more at ease in the coming years.

Keep adding money if you still work

Even part-time, additional contributions could be beneficial in case you are still working at 67. Individuals near retirement tend to have their highest balances, in part due to consistent saving and catch-up savings. The tax regulations give individuals aged 50 years and above the opportunity to add additional funds to their 401(k) accounts every year.

You don't need a huge jump to make a difference, either. Raising your contribution by just two or three percentage points could add real money over a few years. If your workplace plan is limited, you might also use a traditional or Roth IRA to add more flexibility.

Use a simple withdrawal plan, not guesswork

At 67, how you use your savings often matters more than the exact dollar amount. Many people feel better when they have a simple withdrawal plan to follow. A common starting point is taking around 3% to 4% of your invested savings in the first year, then adjusting slowly.

That number is not a promise, but it gives you a rough guide. You can pull a little less in years when markets feel rough, and a little more in strong years. The goal is to balance enjoying life now with keeping your money working for later years.

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Coordinate Social Security with 401(k) withdrawals.

Your Social Security timing alters the level of effort your 401(k) must put in. Waiting to claim usually increases your monthly benefit, which could decrease the amount you have to draw out of savings annually.

If you claim early, your monthly benefit is smaller, which means your 401(k) may need to cover more of your expenses. If you haven't claimed yet, it may be worth considering whether waiting could improve your overall financial picture.

Aligning your Social Security timing with your withdrawal strategy can help create a more stable income in retirement.

Cut down on some current expenses.

It is not always easy to increase savings fast. But you could consider changing your spending habits. A simple written budget will help you identify small leaks. The unused subscriptions, insurance that you do not need anymore, or high-rate accounts can silently suck money every month.

Reducing the number of routine bills might trim down the amount of money you have to draw out of a 401(k). That will reduce your stress when the markets become bumpy. You need not subsist on rice and beans; in many cases, a few judicious cuts can pay off in the long run.

Bottom line

The average 401(k) balance is close to $300,000 among people aged 65 and older, whereas the median is around $95,000. Therefore, if you're in this range at 67 years old, you are in very common company.

The most important thing is that all your pieces fit together: 401(k)s, IRAs, Social Security, pensions, and spending. Although you may think you are falling behind, these strategies can help your savings last through a comfortable, stress-free retirement in your late 60s and beyond.

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