The Average 65-Year-Old Has This Much Money Invested (How Do You Compare?)

At 65, retirement is no longer a distant dream—it's real. But if you're worried about whether you've saved enough to live comfortably, you're not alone. Here's how your retirement savings stacks up compared to the average 65-year-old American's.

Learn more about how much others in your age group have saved and discover how you can maximize your investments as you draw closer to the end of your career.

According to data from the Fed's Survey of Consumer Finances, individuals between the ages of 65 and 74 had a mean amount (which is comparable to an average) of $609,230 in their retirement savings accounts in 2022. The same age group had a median amount of $200,000 saved.

Why are the two numbers so different? Since averages and means incorporate extreme lows as well as extreme highs, a handful of high-earning 65-year-olds can drive up the number.

The median of $200,000 is probably more representative of the amount most 65-year-olds have in retirement savings.

The Fed's survey of household finances shows that most 65-year-olds store their savings across a range of accounts, including the following (just keep in mind that the mean is often skewed due to extremely high earners):

• Savings bonds: $39,3100 mean/$10,000 median
• Stock holdings: $838,470 mean/$160,000 median
• Directly held bonds: $10,442,200 mean/$322,000 median
• Certificates of deposit: $138,440 mean/$53,000 median

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If you're anxious about how your retirement savings compare to the average 65-year-old, try not to worry — you do still have time to save. There are plenty of strategies you can employ to get your savings account where it needs to be for you to enjoy a comfortable retirement.

We list some of the most crucial steps below.

You can start taking Social Security at 62, but your monthly checks will be permanently reduced based on how early you claim. Delaying past full retirement age earns credits that boost your benefits, and waiting until 70 gives you the highest monthly payout to supplement your savings.

Your investment portfolio should reflect your age. As you get older, making more conservative investments can ensure you don't lose money you can't afford to lose on risky investments.

A retirement planner or financial advisor can review your portfolio and advise you on whether your investments align with your age, identifying any necessary adjustments.

Nothing will boost your savings ability faster than finding an additional source of income you can funnel entirely into a retirement savings account.

Something as small as driving for Uber on your daily commute can add up quickly when you're putting every cent you make into a high-yield savings account or investing it with your IRA.

At 50, you're allowed to start contributing more to try to boost your savings. For 2025, the catch-up contribution limit for traditional IRAs is $7,500, bringing the total amount you can contribute to $31,000 for the year.

Once you turn 60, you have three years during which you can contribute an extra $11,250 to your 401k. Starting in 2026, higher earners must put catch-ups into a Roth IRA instead.

Now that you're nearing retirement, every penny saved matters. Review your monthly budget and decide which subscriptions you can live without. Brainstorm ways to cut down on your energy and transportation costs. You might even consider downsizing now instead of waiting for retirement.

The more money you can tuck away now, the happier you'll be when you're able to spend it in a few years.

Depending on how well you've prepared for retirement, you may be able to retire earlier than you think. But even if you've surpassed the median savings account balance for people your age, try not to get too complacent.

Continuing to grow your investment accounts will help ensure you leave the workforce with a tidy nest egg that lasts the rest of your life.