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Retirement Savings
According to NerdWallet 5/7/2024
Average & Median retirement savings balance by age for a Family.
Average retirement savings balance by age
Based on data from the 2022 Survey of Consumer Finances, the average retirement savings for all families is $333,940. The average retirement savings by age is:
| Age group | Average retirement savings balance amount |
|---|---|
| Under 35 | $49,130. |
| 35-44 | $141,520. |
| 45-54 | $313,220. |
| 55-64 | $537,560. |
| 65-74 | $609,230. |
| 75 and older | $462,4100. |
| Source: Federal Reserve Board |
Median retirement savings balance by age
Because averages can be heavily skewed by outliers — in other words, the savings of over- and underachievers in each group — we’ve also included median balances in the breakdown below.
The median can often provide a more representative number than the average, and you’ll notice that the median numbers are quite a bit lower than the averages. (All data is from the 2022 Survey of Consumer Finances unless otherwise noted.)
| Age group | Median retirement savings balance amount |
|---|---|
| Under 35 | $18,880. |
| 35-44 | $45,000. |
| 45-54 | $115,000. |
| 55-64 | $185,000. |
| 65-74 | $200,000. |
| 75 and older | $130,000. |
| Source: Federal Reserve Board |
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