Retirement Retirement Planning

How Much Should You Have in Your 401(k) at 67? The Average Balance Might Concern You

Here's what the average 401(k) balance at 67 means for your retirement.

By Josh Koebert , Edited by Laura Hohenstein

Updated Sept. 3, 2026

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By 67, your golden years are upon you. Retirement is now a reality rather than a goal post in the distance. For many Americans, that raises a pressing question: Have you actually saved enough in your 401(k) to support the life you want?

In your late 60s, the number in your 401(k) account matters. And things like longer lifespans and higher everyday costs mean your 401(k) balance carries more weight than ever. So how do you know if you're on track for retirement at 67? And how do your savings compare to those of others your age? Let's take a closer look.

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What is the average 401(k) balance at 67?

According to data from Empower, the average 401(k) balance for someone in their 60s is $582,546, with a median of $191,372. At age 70, the average drops to $439,604, and the median falls to $98,076.

Somewhere in the middle is a good benchmark for a 67-year-old. But the fall from 60 to 70 also shows the transition from peak savings to early withdrawals. which is often when balances begin to decline.

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The average 401(k) balance for other age groups

The average 401(k) balance across all age groups is $351,242, according to the same Empower data. Here's how the average and median 401(k) balances vary by age:

20s: $125,180 average / $44,627 median
30s: $223,429 average / $81,314 median
40s: $425,142 average / $160,899 median
50s: $642,696 average / $252,501 median
60s: $582,546 average / $191,372 median
70s: $439,604 average / $98,076 median
80s: $422,319 average / $76,609 median

The above highlights how crucial compounding is and how consistency matters over the decades. Starting early and increasing contributions as your income grows makes all the difference.

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

The average balance of $582,546 might sound alarming, but it can set unrealistic expectations for where your account should sit. This is because the average is skewed by high earners who have larger accounts. The median is the middle value for these accounts, providing a clearer benchmark.

The median balance shows what a typical saver actually has. If your balance is closer (or even above) the median, you're more in line with most retirees. Understanding this difference can help you set more realistic expectations and make better decisions about long-term planning.

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Is your 401(k) enough to retire comfortably at 67?

Whether your 401(k) is enough at 67 isn't necessarily dependent on a single number. It's more based on things like your lifestyle, debt levels, and health care needs.

But even average balances may feel tight if expenses are high. The key is matching your withdrawals to a realistic annual budget that covers essentials while preserving long-term financial stability.

How far will the average balance actually go?

The average 401(k) balance at this stage typically needs to be spread over about 15 to 25 years of retirement.

Your annual income depends on withdrawal rates and investment returns. Even a large balance can translate into a modest monthly income. This is especially true when considering inflation and rising health care costs.

What makes your savings different from the average

A few things drive where your 401(k) stands relative to others. These drivers include factors such as income level, career stability, employer match, and investment performance.

Early withdrawals, job changes, or low contributions can significantly reduce balances. On the other hand, consistent saving, long-term investing, and higher earnings can push balances well above average benchmarks.

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Common mistakes that drain retirement accounts faster

Life happens. But common mistakes can cause retirement savings to run out faster than expected.

These include withdrawing too much too early, underestimating health care costs, and failing to adjust investments for lower risk in retirement. Poor tax planning and unnecessary spending on discretionary items can also accelerate withdrawals.

What to do if you're behind at 67

If your 401(k) is lower than expected at 67, it is critical to review your withdrawal strategy. Considering you are at retirement (or very close), your best options are to adjust spending, delay full retirement, or supplement income through part-time work or Social Security timing strategies.

The focus shifts from accumulation to preservation. It's all the more important to avoid unnecessary withdrawals and reduce fixed expenses when and where possible.

How to stretch your 401(k) further in retirement

It may seem like a challenge, but stretching your savings often comes down to disciplined withdrawal rates and smart tax planning.

Reduce discretionary spending, delay large purchases, and optimize Social Security benefits, as these can extend your portfolio's life. You can also consider investing conservatively within your retirement to maintain growth while balancing risk. These tips can help ensure your savings last as long as possible.

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Bottom line

By age 67, a 401(k) is less about accumulation and more about how effectively it can support your retirement plan. It's true that the averages provide a useful reference point, but the real measure of success is whether your savings align with your expected lifestyle.

Things like health care needs, withdrawal strategy, and your expenses matter in this balancing act. Small money mistakes and financial victories can have a major impact over time.

One overlooked factor is sequence-of-returns risk. Market downturns early in retirement can significantly shorten the duration of savings, even if long-term averages look solid. That makes withdrawal flexibility an important tool for protecting income throughout retirement.

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Author Details

Josh Koebert

Josh Koebert has spent more than 16 years digging into the data behind how Americans earn, save, and retire. As a Senior Data Journalist at FinanceBuzz, his work covers both ends of that challenge: the job market and real estate pressures that shape how much people can save, and the Social Security policies, 401(k) strategies, and retirement income gaps that determine what they'll actually have when they get there.