Retirement Retirement Planning

Here's The Average Retirement Savings of 75-Year-Old Americans (How Do You Compare?)

See how the typical 75-year-old's retirement savings compares and what really matters for making your money last in your later years.

By Kristin Hitchcock

Edited by Laura Hohenstein

Updated Feb. 9, 2026

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By age 75, retirement is no longer an abstract idea or a future plan. For most people, it is everyday life, including paying bills, managing withdrawals, and figuring out how to make savings last as long as possible. Some retirees at this age feel financially comfortable. Others worry about whether their money will stretch far enough. Most fall somewhere in between, balancing what they have with what they still need.

Understanding what other Americans have saved at 75 can provide a helpful perspective and point to smart money moves for seniors.

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What is the average retirement savings at age 75?

According to data from the Federal Reserve's Survey of Consumer Finances, households headed by someone in their mid-70s typically have a few hundred thousand dollars in total net worth. That includes 401(k)s, IRAs, and other savings vehicles, not just one account type. Vanguard's data found that the average 65+ retiree had an average savings of $272,588.

The average is pulled upward by higher-net-worth households, so it does not describe most retirees' real situation. A more realistic picture comes from the median, which is significantly lower and suggests that many 75-year-olds are living on much more modest savings. For instance, Vanguard lists the median retirement savings of 65+ households at only $88,488.

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Average vs. median: why the difference matters

When you see headlines about "average retirement savings," it is important to understand what that number really means. The average includes very wealthy households, which can dramatically inflate the figure.

The median represents the midpoint. Half of households have more and half have less. For retirees in their 70s, the median balance is often less than half of the average. That gap tells an important story. A small group of people have very large portfolios, while many retirees are getting by with far less.

If your savings do not look anything like the "average," you are not alone.

How savings typically change in your mid-70s

By 75, most retirees are no longer in accumulation mode. Instead, they are actively drawing down their savings to supplement Social Security, pensions, or other income sources.

Balances often shrink for several reasons:

Required minimum distributions force withdrawals from tax-deferred accounts
Healthcare costs tend to rise with age
Market ups and downs can have a bigger emotional and financial impact when you are withdrawing instead of contributing

Even retirees who started with healthy nest eggs may see their account balances slowly decline over time.

What counts as "retirement savings" at this age?

When surveys report retirement savings, they usually include:

401(k) and 403(b) plans
Traditional and Roth IRAs
Rollovers from former employer plans
Other investment accounts earmarked for retirement

They usually do not include the value of your home, Social Security benefits, or pensions. That means the headline number may not reflect your full financial picture, especially if you own your home outright or receive strong guaranteed income each month.

The role Social Security plays at 75

For many 75-year-olds, Social Security is the backbone of retirement income. By this age, nearly everyone who is eligible is already claiming benefits, and those checks often cover basic living expenses.

However, Social Security was never designed to replace 100% of pre-retirement income. That is why personal savings still matter, even later in retirement, especially for medical and long-term care costs, home repairs or major one-time expenses, travel, or helping family members. Savings act as the buffer that keeps small problems from becoming financial emergencies.

How health care costs affect savings in your 70s

Health care is one of the biggest wild cards in retirement planning, and its impact becomes more visible in your mid-70s. Even with Medicare, out-of-pocket costs can add up through premiums and supplemental policies, prescription drugs, dental, vision, and hearing care, and long-term care or in-home assistance.

Many retirees underestimate how much they will spend on healthcare over time. These costs are a major reason why some 75-year-olds see their savings decline faster than expected.

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Is your savings "enough" at 75?

There is no single number that works for everyone. Whether your savings are adequate depends on your monthly spending, your guaranteed income sources such as Social Security or pensions, your health and expected medical costs, whether you own your home outright, and how conservative or flexible your lifestyle is.

Some retirees live comfortably on relatively small portfolios because their fixed income covers most expenses. Others need much larger balances to support their desired lifestyle.

What matters more than the headline number

At 75, the most important question is not how your balance compares to national averages. It is whether your income plan is working.

Useful questions to ask yourself include:

Are my bills consistently covered?
Do I have a cushion for surprises?
Am I withdrawing at a pace that seems sustainable?
Do I feel financially stressed or mostly at ease?

Peace of mind often matters more than hitting any specific dollar figure.

How some retirees make their money last longer

Retirees who feel more secure in their 70s often focus on keeping a portion of money in lower-volatility investments, being flexible with discretionary spending, planning withdrawals intentionally rather than randomly, and reviewing their plan periodically as life changes.

None of these strategies guarantees outcomes, but they can help create more stability and predictability in later retirement.

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Bottom line

The average retirement savings of 75-year-old Americans is in the low hundreds of thousands, but the median is far lower. That gap shows why national averages can be misleading and why what really matters is whether your income sources and spending habits are working together in a sustainable way.

Required minimum distributions can quietly push you into a higher tax bracket and increase how much of your Social Security is taxed. Reviewing withdrawals and taxes together can help you avoid wasting your retirement savings and keep more of your money working for you longer.

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