On the journey to retirement, it makes sense to pull over to the side of the road occasionally to make sure you are still on course.
As part of its 2025 How America Saves report, Vanguard looked at account balances by age in its defined-contribution plans, such as 401(k) plans.
Knowing where you stand in comparison to peers can reveal whether your efforts are on track, or if tweaking your approach is in order. And Vanguard’s data covers nearly 5 million Americans.
Vanguard calculated both the average balance and the median balance for each age group.
The average balance can be skewed by those with higher levels of wealth. So, in some ways, the median balance — the middle number after ordering all numbers — can be a more accurate measure of where Americans stand in terms of retirement readiness.
With that in mind, here are those 401(k) balances by age.
Under age 25
Average 401(k) balance: $6,889 as of Dec. 31, 2024 (compared with $7,351 one year prior)
Median 401(k) balance: $1,948 as of Dec. 31, 2024 (compared with $2,816 one year prior)
Workers who are under the age of 25 are just getting started with their careers — and their efforts to save for retirement.
At the same time, while their balances declined a bit from 2023 to 2024, these workers are already doing an impressive job of saving for their age, as we reported in “6 Revolutionary Money Habits of Gen Z.”
Ages 25-34
Average 401(k) balance: $42,640 as of Dec. 31, 2024 (compared with $37,557 one year prior)
Median 401(k) balance: $16,255 as of Dec. 31, 2024 (compared with $14,933 one year prior)
Workers in this age cohort are becoming more established in their careers. Some may be starting families.
They also are doing better financially than stereotypes suggest, as we explained in “Millennials Are Suddenly Loaded: Here’s How They Did It.”
Ages 35-44
Average 401(k) balance: $103,552 as of Dec. 31, 2024 (compared with $91,281 one year prior)
Median 401(k) balance: $39,958 as of Dec. 31, 2024 (compared with $35,537 one year prior)
By this age, many people are well-established in both their careers and family life. Those on the older end of the spectrum might even start thinking about retirement looming over the horizon.
Ages 45-54
Average 401(k) balance: $188,643 as of Dec. 31, 2024 (compared with $168,646 one year prior)
Median 401(k) balance: $67,796 as of Dec. 31, 2024 (compared with $60,763 one year prior)
As kids turn into adults and the nest empties, workers get much more serious about retirement.
If you have fallen behind and have just a small nest egg, check out “7 Ways to Catch up on Retirement Savings ASAP, According to Experts.”
Ages 55-64
Average 401(k) balance: $271,320 as of Dec. 31, 2024 (compared with $244,750 one year prior)
Median 401(k) balance: $95,642 as of Dec. 31, 2024 (compared with $87,571 one year prior)
Retirement moves from a mere dream to day-to-day reality for millions of people in this age bracket.
Ages 65 and older
Average 401(k) balance: $299,442 as of Dec. 31, 2024 (compared with $272,588 one year prior)
Median 401(k) balance: $95,425 as of Dec. 31, 2024 (compared with $88,488 one year prior)
Many folks in this age group are already retired. But it’s possible that some are still struggling with the transition from work life to their golden years.
If you are among them, check out the “10 Things Successful Retirees Do Differently (It’s Not All Financial).”
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