How your 401(k) balance compares by generation — and what to do if you're falling behind

The mean 401(k) equilibrium for babe 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.

It’s worthy noting that averages similar these tin beryllium skewed by affluent savers with precise precocious 401(k) balances.

For example, successful its study connected Americans’ savings, based connected 2024 data, fiscal steadfast Vanguard noted the mean defined publication program equilibrium was $148,153, and the median equilibrium was $38,176 (median being a “halfway point,” wherever fractional the radical had more, and fractional had less) (2).

Broken down by age, Vanguard defined publication program balances were arsenic follows:

• 25 and younger: mean equilibrium of $6,899; median equilibrium of $1,948

• 25–34: mean equilibrium of $42,640; median equilibrium of $16,255

• 35–44: mean equilibrium of $103,552; median equilibrium of $39,958

• 45–54: mean equilibrium of $188,643; median equilibrium of $67,796

• 55–64: mean equilibrium of $271,320; median equilibrium of $95,642

• 65+: mean equilibrium of $299,442; median equilibrium of $95,425

An oft-cited benchmark for however overmuch you should purpose to prevention for status is 15% of your income. Fidelity’s investigation showed the mean savings complaint was 14.2% (combined full of worker contributions and leader matches).

For babe boomers, the mean savings complaint was 17.1%; for Gen X, it was 15.4%; for millennials, it was 13.5%; and for Gen Z, it was 11.3%.

If you’re further down successful redeeming for your property bracket, oregon you’re not hitting a 15% savings rate, determination are things you tin bash to boost your status savings, nary substance wherever you autumn connected the charts.

Read More: 5 indispensable wealth moves to marque erstwhile you’ve saved $50,000

For babe boomers, the situation is simply that status is getting closer, truthful for immoderate people, the unit whitethorn beryllium connected to boost status savings. The advantages boomers person is that they are aboriginal successful their careers and apt to beryllium earning more, and little apt to person large expenses.