Everyone’s retirement journey is unique, and the key is to remember these figures aren’t pass-or-fail benchmarks.
Income, career changes, years in the workforce and retirement goals all shape how much someone saves. The Fidelity data offers some grounded yardsticks for seeing how your nest egg stacks up.
The typical age that average American hit six figures
Fidelity’s latest data shows that retirement balances build gradually, not overnight. Workers in their early 20s have an average of just $7,700 saved in a 401(k), while the average doesn’t cross the $100,000 mark until their early 40s.
Here’s how average 401(k) balances break down by age:
- Ages 20–24: $7,700
- Ages 25–29: $26,600
- Ages 30–34: $51,700
- Ages 35–39: $81,600
- Ages 40–44: $120,100
- Ages 45–49: $163,200
- Ages 50–54: $215,700
- Ages 55–59: $260,800
- Ages 60–64: $257,400
- Ages 65–69: $258,800
- Age 70 and older: $264,500
When viewed by generation, the pattern is similar. Baby boomers have accumulated an average 401(k) balance of $260,300, while Gen X averages $215,600. Millennials have built average balances of $82,600, and Gen Z workers, many of whom are still early in their careers, average $18,000.
The report also found workers are contributing an average of 14.4% of their income toward retirement when employee and employer contributions are combined, putting them within striking distance of Fidelity’s long-standing recommendation to save 15% of pre-tax income annually.
Many Americans still aren’t confident they’ll have enough. According to the Employee Benefit Research Institute’s 2025 Retirement Confidence Survey, roughly two-thirds of workers say they feel confident they’ll have enough money to live comfortably in their retirement, while many continue to worry about inflation, healthcare costs and outliving their savings.
The biggest retirement advantage
The most eye-opening numbers may not be the age averages at all.
Workers who stayed invested in the same employer-sponsored retirement plan for years saw dramatically larger balances than their peers. Millennials who remained in the same plan for at least five years had average balances of $180,200 which was more than twice the overall millennial average. After 15 years of continuous participation, Gen X workers averaged nearly $649,000, while baby boomers topped $576,000.
