This Is the Average 401(k) Balance for Americans 35 to 44

Let's face it -- retirement planning might not be top of mind when you're in your 30s or 40s. But if your employer offers a 401(k) , it's worth taking advantage of, especially if they provide matching contributions .

However, if you're unsure how much to save in your 401(k) each year, we've taken a closer look to see what others between the ages of 35 and 44 are doing. Hint: It's not as much as the average American, but those in this age group are still making use of their employer-sponsored plans to avoid falling behind.

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Take a look at the average 401(k) balances for workers 35 to 44

Every year, Vanguard dives into the savings habits of 401(k) participants in its "How America Saves" report. In the latest report released in 2024, Vanguard found the average 401(k) balance across all age groups is $134,128. For those aged 35 to 44, however, the average balance is much lower at $91,281.

The median balance for this age group may be even more surprising at $35,537. However, this is close to the overall median 401(k) balance of $35,286, according to Vanguard's analysis of nearly 5 million retirement accounts.

For perspective, the median figure provides a clearer picture of what's typical -- half of 401(k) holders have balances that are higher, and half are lower -- while the average is skewed upward by those with the means to contribute more to their 401(k). It's also worth noting that the average balance tends to increase with age. So, if you can boost your income and manage your day-to-day expenses, you'll likely see your retirement savings grow over time.

Truth be told, it's difficult to compare your retirement progress to someone else's -- you likely have different goals and financial situations. However, knowing where your peers stand can motivate you to keep tabs on your own numbers. The more you track your progress, the better off you'll be when retirement comes.

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