Average 401(k) balance for retirees age 65 and older is $272,588, with $88,488 median.

From Nasdaq: 2025-01-12 12:45:00

The 401(k) retirement account is a popular choice among Americans for saving and investing in retirement, offering tax benefits by lowering taxable income. The average 401(k) balance for those 65 and older is $272,588, with a median balance of $88,488. While the ideal amount to have in a 401(k) varies based on individual circumstances, a common goal is to have 80% of your last year’s income annually in retirement. Additionally, there are “Social Security secrets” that could boost retirement income by as much as $22,924 per year, providing valuable strategies for maximizing benefits.



Read more at Nasdaq: This Is the Average 401(k) Balance for Retirees Age 65 and Older