Vanguard recently released data on retirement account balances, revealing significant variations influenced by factors like age. While the average workplace retirement account value is $148,153, the median is only $38,176. Older Americans tend to have more saved than younger individuals due to increased time for growth. However, comparing yourself to others can be misleading, as individual circumstances differ. It’s crucial to focus on your own needs, goals, and savings process. Aim to save more than the average or median figures for your age group to secure a comfortable retirement. Additionally, consider maximizing Social Security benefits for an extra $23,760 annually.

Read more at Nasdaq.: $148,153 vs. $38,176: Which Number Matters Most From Recent Retirement Savings Report?