Average 401(k) Balance by Age in 2026: How Much Do Workers Have Saved?

Average 401(k) Balance by Age in 2026: Saving for retirement can look very different at different ages. A person in their 20s may only have a few thousand dollars in a 401(k), while someone in their 50s or 60s may have a much bigger balance. This is normal because older workers have usually had more years to put money into their accounts and let their investments grow.

Fidelity’s latest age-based data gives a useful look at how much people have in their 401(k)s at different stages of life. The figures come from 26,800 corporate defined contribution plans and 25.6 million participants. The data is based on accounts as of March 31, 2026.

These numbers shouldn’t be treated as a fixed target. Salary, years in the workforce, employer contributions, investment returns and the age at which someone started saving can all make a big difference.

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Average 401(k) Balance by Age

Source: Fidelity Investments, Q2 2026 401(k) data.

The numbers generally rise as people get older. Workers aged 20 to 24 have an average balance of $7,700. By age 30 to 34, the average reaches $51,700. It rises further to $120,100 for people aged 40 to 44 and $215,700 for those aged 50 to 54.

The average is highest in the 55 to 59 group at $260,800. It then moves slightly up and down across the older age groups. People aged 60 to 64 have an average of $257,400. Those aged 65 to 69 have $258,800, while people aged 70 and above have $264,500.

Fidelity’s newer Q2 2026 retirement report also found that the overall average 401(k) balance climbed to a record $155,800 by June 30, 2026. That was a 10.5% rise from the previous quarter and 13.1% higher than the same quarter a year earlier. The report covered 25.8 million participants across 27,300 corporate defined contribution plans.

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Why 401(k) Balances Grow with Age?

Age is only one part of the story. A person who starts saving early can give their money many more years to grow. Contributions can also rise as income increases. Fidelity says the overall average savings rate in its data was 14.4%, which was close to its suggested 15% savings level. The rate includes both employee and employer contributions.

The company also found a big difference among people who keep saving in the same workplace plan for many years. In Q2 2026, the average balance for people who had stayed in the same 401(k) for at least 15 years reached $668,900. Those with 10 straight years had an average of $501,800.

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This is one reason an average balance can be useful but also a little confusing. Two people of the same age may have very different amounts because one started saving at 22 while the other started at 35.

Mike Shamrell summed up the long-term approach by saying, “Saving for retirement is a marathon, not a sprint,”. There are also a few important things that can change the number in your account:

• Your salary can affect how much you’re able to contribute each year.
• Your employer’s 401(k) match can add extra money to your account.
• Investment gains and losses can move your balance up or down.
• Taking money out through withdrawals or 401(k) loans can reduce your savings.
• Starting early gives your contributions more time to benefit from compounding.

Fidelity’s Q2 2026 data showed that 81.2% of participants contributed enough to receive their employer’s full matching contribution. About 19.5% had an outstanding 401(k) loan.

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Average Does Not Mean You Need the Same Amount

Looking at the average 401(k) balance by age can help you understand the broader picture, but it isn’t a personal retirement plan. The word “average” matters here. A small number of people with very large accounts can push the average higher. Vanguard’s 2025 retirement data gives a good example.

Among participants aged 65 and older, the average defined contribution account balance was $272,588, while the median was just $88,488. The median means half had more and half had less.

Being below an average doesn’t automatically mean someone is doing badly. A worker may have a pension, IRA, taxable investments or other savings that aren’t included in a 401(k) figure. Fidelity also notes that retirement money can be held across different types of accounts and assets.

There is also more room to save in 2026 than before. The IRS says workers can contribute up to $24,500 to a 401(k) in 2026. People aged 50 and older can generally add another $8,000. For workers aged 60 through 63, the higher catch-up limit is $11,250 in 2026.

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FAQs

1. What is the average 401(k) balance for someone in their 30s?

The average at $51,700 for ages 30 to 34 and $81,600 for ages 35 to 39.

2. What is the average 401(k) balance at age 50?

For workers aged 50 to 54, the average is $215,700. For ages 55 to 59, it rises to $260,800.

3. Is $1 million enough for retirement?

It can be enough for some people and not enough for others. Retirement costs depend on where you live, when you retire, healthcare costs, taxes, spending and other sources of income.

4. How much can I put into a 401(k) in 2026?

The employee contribution limit is $24,500. Workers aged 50 and older can generally contribute another $8,000, while those aged 60 to 63 can use the higher $11,250 catch-up limit.