Retirement Retirement Planning

How Much Should You Have in Your 401(k) at 50? The Average Balance Might Concern You

Are you lagging behind your peers? Now is the time to turn the tide.

By Chris Lewis, CEPF , Edited by Laura Hohenstein

Updated Oct. 21, 2026

Add Us On Google

By the time you reach the age of 50, retirement is right around the corner. What seemed so far away for so long is approaching fast.

That means it's probably time to check up on your financial health and see where you stand compared to peers. Find out how much the average person in their 50s has tucked away in a 401(k), and learn what you can do to boost your bank account.

Now Available: The Definitive Guide to Retirement Income

Many successful investors eventually reach the same moment. The saving is done, the portfolio is built, and the question quietly changes from how much can I grow this to how much can I take out? Get that second question wrong and decades of good investing can come apart in a handful of years.

That is exactly what The Definitive Guide to Retirement Income helps answer.¹ <p class="">Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. Guides are provided by Fisher Investments. The publisher may be compensated when readers request a guide.</p> It covers what your retirement could actually cost, which income sources are worth using, and the withdrawal math that decides whether the money lasts. It is free today from Fisher Investments. Read More Here ›

What is the average 401(k) balance at 50?

The average 401(k) balance for someone in their 50s is $640,770 as of August 2026, according to financial services provider Empower.

Of course, if you have just turned 50, your balance may be a bit lower than someone who is in the latter half of their 50s and who has had more time to build a nest egg.

Shopping for cheaper auto insurance? Enter your zip code here to get started.

How the average balance compares to the median (and why it matters)

Is your own 401(k) balance much lower than the average for your age group? If so, don't panic. The average might not be a great representation of what people your age really have in their accounts.

The average 401(k) balance for people in their 50s includes even the richest people in that age bracket. Elon Musk, for example, can skew the average much higher. For that reason, the median balance can give you a better snapshot of how much money people your age really have.

The median is the middle value when all balances are lined up from lowest to highest. By definition, half of the people in their 50s have more money than the median, and half have less. The median amount people in their 50s have saved in a 401(k) is $251,083.

The average 401(k) balance for other age groups

As you might expect, the average 401(k) balance tends to peak in a person's 50s. Not only have people this age been saving for decades, but they are likely still working and thus have not dipped into their retirement accounts.

Balances tend to decline when a person enters their 60s and starts drawing down their savings. Here is the average 401(k) balance by age group, according to Empower:

20s: $125,802
30s: $223,867
40s: $425,052
50s: $640,770
60s: $579,957
70s: $438,916
80s: $421,829

Released: The Definitive Guide to Retirement Income (Sponsor)

Most people spend their entire working lives focusing on one thing: growing a pile of money. Then they retire and discover the skill they actually need is close to the opposite. Turning that pile into steady income, year after year, through good markets and bad, without ever running out. It may be the least discussed and most consequential transition in personal finance, and plenty of otherwise careful investors walk into it with no real plan.

That is exactly what The Definitive Guide to Retirement Income helps answer.¹ <p class="">Investing in securities involves a risk of loss. Past performance is never a guarantee of future returns. Investing in foreign stock markets involves additional risks, such as the risk of currency fluctuations. Guides are provided by Fisher Investments. The publisher may be compensated when readers request a guide.</p> It is a free guide from Fisher Investments covering what your retirement will really cost, where the cash flow should come from, and how much you can safely withdraw each year. Learn More Here ›

The median 401(k) balance for other age groups

As with the average, the median 401(k) balance is highest among people in their 50s. Here is the breakdown for the median balance among all age groups:

20s: $44,760
30s: $81,240
40s: $160,710
50s: $251,083
60s: $190,151
70s: $97,933
80s: $76,534

Do you have enough in your 401(k) to retire comfortably?

Once you turn 50, it's time to get serious about making sure your nest egg is big enough to support decades of retirement. Do you have enough in your 401(k) to retire comfortably?

There is no easy answer to this question. The right amount depends on your lifestyle, the cost of living where you reside, and other factors.

Some experts have developed a rule of thumb to help you discover whether you have enough saved. For example, Fidelity Investments suggests people have saved six times their income by age 50 before retiring. But in reality, there is no single number that works for everyone.

What to do if you're behind at 50?

If you are 50 and feel like you are behind in savings, know that there is still time to turn things around. By taking the right steps today and continuing to work for a decade or more, you can still accumulate enough to have the nest egg you need to get through your golden years.

Here are some things you can do to boost your savings.

Retirement News: Almost 80% of Americans fear a retirement age increase — here’s the real reason why

Ask for a raise at work

Many of us are shy about asking for more money at our jobs. But if you've done good work for a company for many years, you've earned the right to ask for higher compensation.

Another benefit to getting a raise is that it could provide enough extra cash to allow you to make catch-up contributions to your 401(k) account.

In 2026, those who are 50 or older can make a catch-up contribution of $8,000 to a 401(k) plan. Those between the ages of 60 and 63 can contribute an extra $11,250 to a 401(k).

Look for extra sources of income

Developing a side hustle or applying for a part-time job can provide you with a quick burst of extra take-home pay. Another way to boost your income could be to purchase a rental property that could put a monthly rent check in your coffers.

Whatever approach you try, consider putting the money into savings or investments instead of spending it right away.

Get rid of debt

Debt can be a major drain on your finances. This is especially true if the debt comes with a high interest rate.

Try to eliminate debt as quickly as you can. Once you have done so, be extra vigilant about not accumulating new debts. If you learn from past mistakes, the future will look much brighter.

Get instant access to hundreds of discounts

Over 50? Join AARP today— because if you’re not a member you could be missing out on huge perks like discounts on travel, dining, and even prescriptions.

Get 25% off membership — just $15 for your first year with auto-renewal — and a free gift if you join today.

Become an AARP member now

Bottom line

Have you recently checked where you stand financially? If you've turned 50, now is the time to closely monitor your retirement savings so you can ensure your nest egg will carry you through your golden years.

If your 401(k) balance is below the average or median for people your age, consider taking steps to quickly increase your savings rate. There is still enough time between now and retirement to build enough savings to see you through decades of retirement.

More from FinanceBuzz: