Retirement Savings by Age: 2026
Between December 2025 and March 2026, Journey Advisory Group compiled retirement data tracked by the Federal Reserve, Vanguard, Fidelity, and Empower.[1][2][3][4][5] This report aggregates median and mean balances across six age groups to benchmark savings progress and identify gaps in retirement readiness.[1]
Retirement Savings by Age Group — 2026
The table below shows actual retirement account balances held by Americans at each life stage.
Retirement Savings by Age Group — 2026
Age Group | Median Savings[2] | Average (Mean) Savings[2] |
|---|---|---|
Under 35 | $18,800 | $49,130 |
35-44 | $45,000 | $141,520 |
45-54 | $115,000 | $313,220 |
55-64 | $185,000 | $537,560 |
65-74 | $200,000 | $609,230 |
75+ | $130,000 | $462,410 |
Source: Federal Reserve Survey of Consumer Finances, 2022
Key Insights:
- Half of Americans aged 45-54 hold less than $115,000 in retirement accounts, despite this being their peak earning decade.[2]
- The $352,560 gap between median ($185,000) and average ($537,560) for 55-64 year-olds indicates concentrated wealth among top earners.[2]
- The 65-74 age group holds the highest median savings at $200,000, representing the culmination of decades of compound growth.[2]
401(k) Balances by Detailed Age Bracket — 2026
Breaking down savings into narrower age ranges reveals when accumulation accelerates and where gaps emerge. Journey Advisory Group specializes in retirement income planning strategies tailored to each life stage.
401(k) and Retirement Account Balances by Age Bracket — 2026
Age Group | Average Balance[3] | Median Balance[3] |
|---|---|---|
Under 25 | $7,351 | $2,816 |
25-34 | $37,557 | $14,933 |
35-44 | $91,281 | $35,537 |
45-54 | $168,646 | $60,763 |
55-64 | $244,750 | $87,571 |
Source: Vanguard How America Saves 2025
Key Insights:
- Workers under 25 hold a median balance of $2,816, representing the early accumulation phase before compound growth takes effect.[3]
- Median balances increase 138% between ages 25-34 ($14,933) and 35-44 ($35,537), driven likely by higher earnings and employer matching contributions.[3]
- The final pre-retirement decade (55-64) shows median balances reaching $87,571, a 44% increase from the prior decade.[3]
Progress Toward Age-Based Savings Benchmarks — 2026
Financial planning guidelines recommend saving specific multiples of annual salary at each age.[5] This table compares actual savings progress against industry benchmarks. Understanding age-based savings milestones helps workers evaluate their retirement readiness.
Progress Toward Age-Based Retirement Benchmarks — 2026
Age Group | Weighted Avg. Income[5] | Target Multiple[5] | Target Amount[5] | Progress Toward Goal[5] |
|---|---|---|---|---|
30s (30-39) | $64,644 | 3x salary | $193,931 | 103% |
40s (40-49) | $70,524 | 6x salary | $423,145 | 95% |
50s (50-59) | $69,113 | 8x salary | $552,906 | 112% |
60s (60-69) | $64,957 | 10x salary | $649,572 | 88% |
Source: Empower Retirement Analysis 2026
Key Insights:
- Workers in their 30s have reached 103% of the recommended 3x salary benchmark, exceeding targets for the first time in a generation.[5]
- The 40s cohort falls 5% short of the 6x salary target at 95% progress, reflecting the "sandwich generation" impact of supporting children and aging parents simultaneously.[5]
- Workers in their 60s sit at 88% of the 10x salary milestone, indicating many will enter retirement below recommended levels.[5]
SECURE 2.0 Contribution Limits — 2026
The SECURE 2.0 Act revised maximum annual contribution limits for workplace retirement plans, with special provisions for workers aged 60-63.[6] Journey Advisory Group advisors help clients maximize catch-up contributions within these new regulatory frameworks.
SECURE 2.0 Contribution Limits for 401(k) and 403(b) — 2026
Age Group | 2026 Contribution Limit [6] | Breakdown[6] |
|---|---|---|
Under 50 | $24,500 | Standard employee contribution |
50-59 | $32,500 | Standard ($24,500) + Catch-up ($8,000) |
60-63 | $35,750 | Standard ($24,500) + Super Catch-up ($11,250) |
64+ | $32,500 | Standard ($24,500) + Catch-up ($8,000) |
Source: IRS SECURE 2.0 Act Implementation Guidelines, December 2025
Key Insights:
- The "super catch-up" provision for ages 60-63 allows $35,750 in annual contributions, the highest limit in retirement plan history.[6]
- Workers earning $145,000 or more must make all catch-up contributions on a Roth (after-tax) basis starting in 2026, eliminating the traditional pre-tax deduction for high earners.[6]
- The base contribution limit increased from $23,500 in 2025 to $24,500 in 2026, representing a 4.3% inflation adjustment.[6]
Historical Retirement Savings Growth — 1992 to 2026
Comparing retirement balances across three decades shows how the shift from pensions to 401(k) plans has affected wealth accumulation.[2]
Historical Retirement Savings: Mean vs. Median (1992-2026)
Year | Under 35 (Mean)[2] | Under 35 (Median)[1,2] | 75+ (Mean)[2] | 75+ (Median)[1,2] |
|---|---|---|---|---|
1992 | $27,713 | $9,324 | $115,291 | $58,015 |
1998 | $41,191 | $12,763 | $169,358 | $54,700 |
2010 | $36,698 | $11,200* | $237,306 | $89,500* |
2026 | $49,130 | $18,800 | $462,410 | $130,000 |
*Note: 2010 median data estimated from mean values and distribution patterns.
Sources: Federal Reserve Survey of Consumer Finances (1992-2010), Journey Advisory Group Research Study (2026)
Key Insights:
- The median balance for under-35 households increased 102% from $9,324 in 1992 to $18,800 in 2026, adjusted for inflation.[2]
- Retirees aged 75+ experienced a 301% increase in mean balances from $115,291 (1992) to $462,410 (2026), driven by three decades of equity market growth.[2]
- The 2008 financial crisis reduced mean balances for under-35 workers from $41,191 (1998) to $36,698 (2010), demonstrating the impact of market downturns on early-career savers.[2]
Making the Most of Retirement Savings at Any Age
The median retirement account balance across all working Americans with employer-sponsored plans is $38,176 as of 2026, according to Vanguard's analysis of active participants.[3] This figure represents the midpoint across all age groups and demonstrates that half of American workers with access to workplace retirement plans hold less than $40,000 in accumulated savings.[3]
The data reveals three distinct trends. First, workers in their 20s and 30s are outperforming prior generations, reaching 103% of recommended savings benchmarks through automatic enrollment and target-date funds.[5] Second, workers in their 40s and 50s face headwinds from the "sandwich generation" effect, with 59% reducing contributions to support children and aging parents.[4] Third, workers approaching retirement age (60-69) sit at 88% of the recommended 10x salary benchmark, suggesting many will enter retirement with insufficient assets.[5]
The introduction of SECURE 2.0's super catch-up provisions in 2026 provides a final acceleration opportunity for workers aged 60-63, who can now contribute up to $35,750 annually.[6] However, only workers with significant discretionary income can utilize these higher limits, further widening the gap between high earners and median savers.[1]Contact Journey Advisory Group to develop a personalized retirement savings strategy.
This material prepared by Journey Advisory Group is for informational purposes only. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Economies and markets fluctuate. Facts presented have been obtained from sources believed to be reliable. Journey Advisory Group, however, cannot guarantee the accuracy or completeness of such information, and certain information may have been condensed or summarized from its original source. Past performance is not an indicator of future results.
Sources
- Study Name: Journey Advisory Group Retirement Savings Research Study
Author: Journey Advisory Group
Location: Covington, KY
Date: March 2026 - Study Name: Survey of Consumer Finances
Author: Federal Reserve Board
Location: Washington, D.C.
Date: 2022
Link:https://www.federalreserve.gov/econres/scfindex.htm - Study Name: How America Saves 2025
Author: Vanguard
Location: Valley Forge, Pennsylvania
Date: June 2025
Link:https://institutional.vanguard.com/how-america-saves - Study Name: Q4 2025 Retirement Analysis
Author: Fidelity Investments
Location: Boston, Massachusetts
Date: January 2026
Link:https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/retirement-analysis-full-report.pdf - Study Name: Empower Retirement Benchmark Report 2026
Author: Empower Retirement
Location: Greenwood Village, Colorado
Date: February 2026
Link:https://www.empower.com/learning-hub/retirement-benchmark-report - Study Name: SECURE 2.0 Act Implementation Guidelines
Author: Internal Revenue Service
Location: Washington, D.C.
Date: December 2025
Link:https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-catch-up-contributions