“What Is the Average 401(k) Balance by Age?”

“Average 401(k) Balance by Age

Here are the average 401(k) balance by age range as of the second quarter of 2019, according to data released by Fidelity Investments.

Ages 20-29

• The average 401(k) balance was $11,800
• The median 401(k) balance was $4,300
• The average contribution rate was 7% of compensation

Ages 30-39

• The average 401(k) balance was $42,400
• The median 401(k) balance was $16,500
• The average contribution rate was 7.8% of compensation

Ages 40-49

• The average 401(k) balance was $102,700
• The median 401(k) balance was $36,000
• The average contribution rate was 8.5% of compensation

Ages 50-59

• The average 401(k) balance was $174,100
• The median 401(k) balance was $60,900
• The average contribution rate was 10.1% of compensation

Ages 60-69

• The average 401(k) balance was $195,500
• The median 401(k) balance was $62,000
• The average contribution rate was 11.2% of compensation

Fidelity is one of the largest administrators of 401(k) plans and these figures reflect participants in employer plans administered by Fidelity. As is no surprise, average account balance, as well as contribution rates, increase as workers get older…”

https://www.thestreet.com/retirement/401k/average-401k-balance?puc=yahoo&cm_ven=YAHOO