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Below are estimated United States retirement savings statistics by age for 2023, from surveys conducted between 2022 and 2023 (the newest data we have until 2026). You’ll find the average retirement savings by age, along with median, and top 1% of savings.
For a fuller accounting of net worth as opposed to only savings for retirement, see our net worth by age research.
Retirement Savings Benchmarks by Age in 2023
The following chart summarizes retirement savings statistics by age. First, I use a strict definition of retirement savings – ‘retirement accounts’ and any defined benefit plans which have a cash value.
The next chart also includes summary statistics for a more expansive definition of retirement savings (defined in the methodology section).
Although we also have retirement statistics aggregated across all US adults, in many ways age is a more appropriate screen for retirement savings. Depending on how old you are, you’ll have different amounts of accumulated savings (and, let’s face it, motivation to save).
Across Americans, the average retirement age is just shy of 60 years old (with a 62 year old median). And, yes, it makes sense for those older than retirement age to have savings. While some folks in each age bracket are still working, even retired individuals draw down their retirement over time.
Note: This data comes from the Federal Reserve’s 2022 SCF. See the net worth research post for details on the survey and methodology.
What are the median retirement savings by age?
In 2023, overall median retirement savings was $13,000 per household, expanding to $29,000 with the more permissive definition. Here are retirement savings medians per age:
| Age | Median Retirement Savings | Alternative Definition |
| 18-24 | $0.00 | $710.00 |
| 25-29 | $4,700.00 | $8,200.00 |
| 30-34 | $4,700.00 | $12,680.00 |
| 35-39 | $8,000.00 | $21,000.00 |
| 40-44 | $12,000.00 | $24,000.00 |
| 45-49 | $19,400.00 | $33,000.00 |
| 50-54 | $24,000.00 | $43,000.00 |
| 55-59 | $24,000.00 | $59,840.00 |
| 60-64 | $10,400.00 | $33,000.00 |
| 65-69 | $8,700.00 | $50,650.00 |
| 70-74 | $0.00 | $105,000.00 |
| 75-79 | $0.00 | $36,000.00 |
| 80+ | $0.00 | $42,000.00 |
What are average retirement savings by age?
The overall average household retirement savings were $129,010.00 while a more permissive view of savings average came in at $310,792.90. Here are the average retirement savings per age group:
| Age | Average Retirement | Alternative Definition |
| 18-24 | $5,860.98 | $12,316.00 |
| 25-29 | $20,361.47 | $53,481.03 |
| 30-34 | $35,812.12 | $79,554.37 |
| 35-39 | $70,361.89 | $172,989.85 |
| 40-44 | $102,301.38 | $227,623.23 |
| 45-49 | $138,665.36 | $266,563.69 |
| 50-54 | $242,421.82 | $487,115.45 |
| 55-59 | $284,015.50 | $563,233.05 |
| 60-64 | $326,800.45 | $764,269.26 |
| 65-69 | $337,197.20 | $785,099.44 |
| 70-74 | $279,162.01 | $796,571.87 |
| 75-79 | $238,017.43 | $710,223.67 |
| 80+ | $155,357.28 | $731,780.01 |
What is the top 1% retirement savings by age?
Warning: be skeptical of top percentiles; net worth in general is ill-behaved. Consider numbers “in or around” the listed amount.
For overall households, the top 1% retirement savings was $2,290,000 while a more expansive definition of retirement savings came in at $5,061,900 for the top 1%.
Here are the top 1% retirement savings breakdowns by age:
| Age | Top 1% Retirement Savings | Alternative Definition |
| 18-24 | $150,000.00 | $167,000.00 |
| 25-29 | $365,000.00 | $705,010.00 |
| 30-34 | $365,000.00 | $846,000.00 |
| 35-39 | $730,000.00 | $2,051,000.00 |
| 40-44 | $1,234,600.00 | $2,696,000.00 |
| 45-49 | $1,397,000.00 | $3,471,000.00 |
| 50-54 | $2,311,000.00 | $5,385,000.00 |
| 55-59 | $3,105,000.00 | $7,430,000.00 |
| 60-64 | $3,550,000.00 | $9,140,000.00 |
| 65-69 | $4,574,000.00 | $10,424,000.00 |
| 70-74 | $3,141,000.00 | $13,389,000.00 |
| 75-79 | $3,300,000.00 | $9,205,000.00 |
| 80+ | $3,000,000.00 | $11,553,000.00 |
Looking for more data? I don’t blame you – so here’s every retirement savings percentile by age in 2023 in a retirement savings calculator.
Enter an age bracket, savings amount, and choose your definition of retirement savings and the tool will tell you the savings percentile.
Source for Retirement Savings by Age
Our data comes from the 2022 Federal Reserve SCF. The definition of strict retirement savings and expansive savings can be found in our retirement savings for adults post.
Past editions:
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