What Should Your 401(k) Balance Be at Your Age? Here Is the Average and How to Close the Gap.

When it comes to saving for retirement, a 401(k) is a popular account and with good reason. Your employer may not only offer a 401(k) but may automatically enroll you in one. In some cases, companies match your 401(k) contributions, allowing you to earn essentially "free" extra money for retirement just by investing.

Unfortunately, while a 401(k) is a great account, many people simply are not investing enough in it to set themselves up for the financial security they deserve. And that's a problem, given that Social Security only replaces about 40% of pre-retirement income, which isn't nearly enough to live on.

If you're not sure if you're on track to a secure retirement, let's take a look at the average 401(k) contributions, as well as how much you probably should have saved to see where you stand.

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Here are the average 401(k) balances by age

According to data from Empower for January 2026, here are the average 401(k) balances by age:

Table source: Empower.

The average is obviously much higher than the median, with some of the country's biggest earners likely driving those numbers up by making very large contributions.

Still, while average benefits aren't terrible, especially for those in their 50s, the sad reality is that neither the average nor the median benefit would be enough to provide the typical senior with the funds they need.

How much should you have saved in your 401(k)?

So, if most people don't have enough, how much is enough, exactly? Financial advisors typically recommend that you have saved:

• 1 times your salary by 30.
• 3 times your salary by 40.
• 6 times your salary by 50.
• 8 times your salary by 60.
• 10 times your salary by 67.

These numbers are fairly reasonable if you plan to follow the 4% rule, which allows for a withdrawal of 4% of your portfolio balance in year one and then adjust up each year. This rule should give you a good chance of your money lasting for at least 25 to 30 years.

Assuming you earn $70,000, that would mean you'd want around $700,000 saved at 67. Following the 4% rule would give you $28,000. That replaces about 40% of your pre-retirement income, and Social Security replaces the other 40%, so you end up at just about the recommended 80% replacement rate most experts believe you'll need.

What if you're falling short?

So, what happens if you aren't anywhere near hitting these savings goals right now? Hopefully, if that's the case, you have some time to catch up. If you're still working and earning income, the best thing you can do is to automate your investment contributions.

If you make a retirement plan, decide how much you need to save each month to hit your target and set up automatic contributions for that amount, chances are good that you will continue those contributions since it is easier to stick with the status quo. You don't have to make the responsible choice and force yourself to transfer money to your retirement plans every month.

You may need to make budget cuts to be able to set up the automatic contributions you need to hit your savings target. Tracking spending and identifying areas to save can help. And if you can't invest the full targeted amount right away, start investing something.

You can inch up the percentage you are contributing by 1% or 2% every couple of months once you get used to living on less. And you can redirect all of your raises right to your retirement account every time you get a salary increase, since you won't yet be counting on that money to pay the bills.

If you follow these tips, hopefully you can beat the average and median 401(k) balances and get on track for the income you need as a retiree.

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