The stock market plunged for a while in early 2025, so there is a pretty good chance your 401(k) balance is lower than it was at the end of 2024. But how does the current size of your nest egg compare with the savings stash of others?
Most of us wonder how our finances stack up against those of our peers. Recently, Fidelity Investments released its latest quarterly analysis of the state of the more than 50 million IRA, 401(k) and 403(b) retirement accounts on the company’s platform.
In doing so, Fidelity offered a glimpse behind the curtain into the finances of four generations of savers.
Overall, Fidelity found that the average retirement savings during the first quarter of 2025 was $127,100. That’s down a bit from the 2024 fourth quarter figure of $131,700. The total savings rate rose to a record 14.3%, however.
Following is a breakdown of the average 401(k) balances of four generations.
Baby boomers
How this generation was defined: People born between 1946 and 1964
This generation’s average 401(k) balance: $239,600
This generation’s total 401(k) savings rate: 17.2%
Baby boomers have the highest average 401(k) balance of all four generations. That’s no surprise, as they’ve been working the longest.
They have also put away the largest percentage of their income, possibly because many are still in their peak earning years and may no longer have kids to support or a mortgage to pay.
Generation X
How this generation was defined: People born between 1965 and 1980
This generation’s average 401(k) balance: $187,400
This generation’s total 401(k) savings rate: 15.4%
Many members of Gen X are now squarely in their peak earning years, which means they can devote a healthy percentage of their income to building a nest egg.
For more tips about how to increase your savings, check out “The Final Stretch: 6 Ways To Boost Savings As Retirement Nears.”
Millennials
How this generation was defined: People born between 1981 and 1996
This generation’s average 401(k) balance: $66,800
This generation’s total 401(k) savings rate: 13.5%
There is a substantial drop-off in average retirement savings as you move from Gen X to millennials, but that is somewhat to be expected.
Millennials have yet to take the reins of power in many workplaces — and the high salaries that go with doing so — although that day is fast approaching.
Generation Z
How this generation was defined: People born between 1997 and 2012
This generation’s average 401(k) balance: $13,900
This generation’s total 401(k) savings rate: 11.2%
Members of Gen Z are just starting out in adult life, so it’s little surprise that they have not accumulated much wealth so far.
However, a closer look at the numbers suggests that Gen Zers are actually doing a fine job of saving for their golden years. Among members of this generation, 19.2% increased their retirement contribution rate during the first quarter, the best of any generation.
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