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Family generations<\/p>\n
A recent analysis of Americans\u2019 retirement account balances reveals the big differences in how much each generation has saved, and what strategies they can use to catch up. Financial firm Fidelity released its report for the fourth quarter of 2025 (1), which analyzed the 401(k) balances of 24.8 million participants in corporate defined contribution plans.<\/p>\n
Fidelity found the average 401(k) balance was $146,400, but when broken down by age group, the story starts to look a little different.<\/p>\n
Must Read<\/p>\n
The average 401(k) balance for baby boomers (born 1946-1964) was $270,800; for Gen X (born 1965-1980), it was $222,100; for millennials (born 1981-1996), it was $83,700; and for Gen Z (born 1997-2012), it was $17,900.<\/p>\n
Are you on track?<\/p>\n
It\u2019s worth noting that averages like these can be skewed by wealthy savers with very high 401(k) balances.<\/p>\n
For example, in its report on Americans\u2019 savings, based on 2024 data, financial firm Vanguard noted the average defined contribution plan balance was $148,153, and the median balance was $38,176 (median being a \u201chalfway point,\u201d where half the people had more, and half had less) (2).<\/p>\n
Broken down by age, Vanguard defined contribution plan balances were as follows:<\/p>\n
25 and younger: average balance of $6,899; median balance of $1,948<\/p>\n
25\u201334: average balance of $42,640; median balance of $16,255<\/p>\n
35\u201344: average balance of $103,552; median balance of $39,958<\/p>\n
45\u201354: average balance of $188,643; median balance of $67,796<\/p>\n
55\u201364: average balance of $271,320; median balance of $95,642<\/p>\n
65+: average balance of $299,442; median balance of $95,425<\/p>\n
An oft-cited benchmark for how much you should aim to save for retirement is 15% of your income. Fidelity\u2019s analysis showed the average savings rate was 14.2% (combined total of employee contributions and employer matches).<\/p>\n
For baby boomers, the average savings rate was 17.1%; for Gen X, it was 15.4%; for millennials, it was 13.5%; and for Gen Z, it was 11.3%.<\/p>\n
If you\u2019re further behind in saving for your age bracket, or you\u2019re not hitting a 15% savings rate, there are things you can do to boost your retirement savings, no matter where you fall on the charts.<\/p>\n
Read More: 5 essential money moves to make once you\u2019ve saved $50,000<\/a><\/p>\n A plan for baby boomers<\/p>\n For baby boomers, the challenge is simply that retirement is getting closer, so for some people, the pressure may be on to boost retirement savings. The advantages boomers have is that they are later in their careers and likely to be earning more, and less likely to have major expenses.<\/p>\n If you\u2019re a boomer and you feel you\u2019re behind on your retirement savings, be sure to take advantage of catch-up contributions. The 401(k) contribution limit for 2026 for individuals is $24,500. But those aged 60 to 63 can make catch-up contributions up to $11,250, for a total of $35,750 (3).<\/p>\n If you\u2019re a younger boomer, and still working, you could also consider delaying Social Security until age 70, since each year you wait from your full retirement age until age 70 will mean an increase in your monthly benefits (4).<\/p>\n A plan for Gen X<\/p>\n For Gen X, there\u2019s similar advantages when it comes to retirement savings \u2014 namely, that you\u2019re likely in your higher-earning years. You may also see your major expenses going down, though those in the \u201csandwich generation\u201d who are caring for both their parents and their children, may not be in such a position.<\/p>\n There\u2019s also the challenge of retirement looming closer, so if you\u2019re a Gen Xer feeling the squeeze, fret not, and aim to push your retirement savings up as much as you\u2019re able this year.<\/p>\n The limit for catch-up contributions for those age 50 is $8,000 in 2026, for a total of $32,500 (5). Aim to also take full advantage of any employer match offered. Note that in 2026, for those who earned more than $150,000 in the previous year, catch-up contributions will typically need to be to Roth 401(k)s (6).<\/p>\n A plan for millennials<\/p>\n For millennials, the challenges when it comes to saving for retirement are likely to be other major expenses taking a big piece of the pie: higher housing costs, student debt, daycare, the list goes on. However, younger workers still have time on their side when it comes to saving, and that goes a long way when it comes to the benefits of compound interest and time in the market.<\/p>\n If you\u2019re a millennial looking to prioritize your retirement savings, getting your full employer match is key; if your employer doesn\u2019t offer one, consider whether it\u2019s worth finding one who does. Also, take a look at your investments and the fees you pay.<\/p>\n Keeping fees low can have a major impact on your savings over time. And, since you have more time to keep your money invested, look at your investments and evaluate your risk tolerance, since you have more time to weather ups and downs in the market.<\/p>\n A plan for Gen Z<\/p>\n For Gen Z, the challenges are obvious when it comes to savings: You\u2019re not in your high earning years yet, and you may still be grappling with student debt as you try to establish yourself in your career. But luckily, you have a great advantage when it comes to time; even small contributions to your retirement fund can add up to big savings.<\/p>\n If you can start now, you\u2019ll be way ahead of the game. Priorities for Gen Z include making saving a regular part of your budget, and learning about investing so you can make choices that will build your wealth over time. If your employer doesn\u2019t offer a matching program \u2014 or it doesn\u2019t offer employer-sponsored retirement plans at all \u2014 consider making that a top goal for the near future.<\/p>\n What To Read Next<\/p>\n This 20-year-old lotto winner refused $1M in cash and chose $1,000\/week for life. Now she\u2019s getting slammed for it. Which option would you pick?<\/a><\/p>\n Turning 50 with $0 saved for retirement? Most people don\u2019t realize they\u2019re actually just entering their prime earning decade. Here are 6 ways to catch up fast<\/a><\/p>\n Robert Kiyosaki issues grim warning for baby boomers. Many could be \u2018wiped out\u2019 and homeless \u2018all over\u2019 the country. How to protect yourself now<\/a><\/p>\n Join 250,000+ readers and get Moneywise\u2019s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. Subscribe now.<\/a><\/p>\n Article sources<\/p>\n We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines<\/a>.<\/p>\n Fidelity (1<\/a>); Vanguard (2<\/a>); IRS (3<\/a>, 5<\/a>); Social Security (4<\/a>); CNBC (6<\/a>)<\/p>\n This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/p>\n","protected":false},"excerpt":{"rendered":"Family generations A recent analysis of Americans\u2019 retirement account balances reveals the big differences in how much each…\n","protected":false},"author":2,"featured_media":579973,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[19603,28,254411,16065,6067,153,147,530,6473,1048,35364,3415],"class_list":{"0":"post-579972","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-baby-boomers","9":"tag-business","10":"tag-defined-contribution-plans","11":"tag-fidelity","12":"tag-gen-x","13":"tag-gen-z","14":"tag-personal-finance","15":"tag-personalfinance","16":"tag-retirement-account","17":"tag-retirement-savings","18":"tag-robert-kiyosaki","19":"tag-savings"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/579972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=579972"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/579972\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/579973"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=579972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=579972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=579972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}