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This Is the Average 401(k) Balance for Ages 35 to 44

Retirement might seem far off when you’re in your late 30s or early 40s, but it has a way of creeping up on you. If you haven’t started saving yet, it might be time to step on the gas if you can squeeze a bit more out of your budget. And if you’re already building your nest egg, checking your balances can help you see if you’re still on track.

Either way, comparing what you’ve saved to what others have socked away can give you some perspective. Let’s see how you stack up.

Person worried looking at finances on computer.

Image source: Getty Images.

Average 401(k) balance for those aged 35 to 44

According to Vanguard’s “How America Saves 2024” report, the average 401(k) balance for those aged 35 to 44 was $91,281 at the end of 2023. But averages can be skewed by a small number of savers who contribute more.

In reality, most people aren’t socking away that much. A better measure is the median balance, which comes in at $35,537. That means lots of people have less than $40,000 set aside for retirement.

Are you urious how your 401(k) balance stacks up against other groups? Here’s a closer look.

Age

Average 401(k) Balance

Median 401(k) Balance

Under 25 years old

$7,351

$2,816

25 to 34

$37,557

$14,933

35 to 44

$91,281

$35,537

45 to 54

$168,646

$60,763

55 to 65

$244,750

$87,571

65 and older

$272,588

$88,488

All age groups

$134,128

$35,286

Data source: Vanguard.

If your 401(k) balance is closer to the median, don’t hit the panic button just yet. You’ve still got time to turn things around.

Start by getting your finances in order and make sure you’re snagging that full employer match. Next, take a moment to think about your retirement goals and what they might cost. That way, you can zero in on your personal target retirement number and make sure you’re on the right track.

The $22,924 Social Security bonus most retirees completely overlook

If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “Social Security secrets” could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $22,924 more… each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we’re all after. Simply click here to discover how to learn more about these strategies.

View the “Social Security secrets” »

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