Somewhere along the way, you have probably heard a coworker mention a retirement number and wondered how yours compares.

It is a natural question, and the answer is more encouraging than most headlines suggest.

Published retirement figures usually lean on the average, and the average overstates what a typical saver has.

Vanguard’s How America Saves analysis puts the average 401(k) balance at $167,970.

The median balance is $44,115.

A small group of very large accounts pulls the average up, and about three out of four participants hold less than that figure.

The median is the better yardstick, because half of savers sit above it and half below.

What people have in their 401(k), by age

Here are Vanguard’s figures for workplace plan balances.

Age	Average balance	Median balance
Under 25	$7,259	$2,234
25 to 34	$50,261	$18,732
35 to 44	$120,742	$46,919
45 to 54	$214,991	$78,730
55 to 64	$305,006	$107,269
65 and older	$330,186	$103,202

Two things stand out.

Median balances more than double between the early thirties and the early forties, which is when raises, higher contribution rates and compounding start working together.

The median then dips slightly after 65. That does not mean people lose money.

Many retirees roll their 401(k) into an IRA or begin drawing income, so the workplace balance shrinks while the total picture does not.

These numbers cover 401(k) accounts only.

Plenty of people also hold IRAs, a spouse’s plan, a pension or a health savings account.

The salary multiple

Planners at firms like Fidelity and Ally often use salary multiples as a rough guide.

• Age 30, about 1x your annual salary
• Age 40, about 3x
• Age 50, about 5x to 6x
• Age 60, about 7x to 8x
• Age 67, about 10x

A 50-year-old earning $100,000 would aim for roughly $500,000 to $600,000 across every tax-advantaged account.

The median 401(k) balance for ages 45 to 54 is $78,730, so most people fall short of these targets, and advisors say as much.

The multiples describe a direction to head in. They are not a grade.

How retirement savings change by state

Age is only one piece of the picture.

Where you live shapes your income, your cost of living and the jobs available to you, and all of that shows up in how much people save.

The map below shows median retirement savings in each state, based on SmartAsset’s 2026 study. Note that it covers retirement savings overall and not 401(k) balances alone.

Massachusetts leads at $150,000, and Mississippi sits at the bottom of the ranked states at $35,000.

Income explains a lot of that gap, but not all of it.

Ohio ties for 10th at $100,000 even though its median household income is $72,212.

Utah has one of the highest account rates in the country at 73.7%, yet its median savings of $62,800 rank 26th.

Tip: Try the “Years of income saved” view on the map to see which states do best once income is taken into account. Then look at where your own state lands.

The plan itself matters too

Behind every 401(k) is an employer plan, and every one of them files a Form in the 5500 series with the U.S. Department of Labor.

Those filings show how many plans exist in each state and how large each plan is, measured by total assets.

They do not show individual balances.

They do show the kind of employers and plans around you. In the 2025 data, plans with under $1 million in assets outnumber every other size group in all 50 states and DC.

Tip: Start with the “Share $20MM+” view. It shows which states have a higher share of larger plans, and larger plans often come with more features and lower costs per participant.

What the long-term data shows

Fidelity tracked people who stayed in the same workplace plan for 15 straight years.

Their average balances were $391,300 for millennials, $576,200 for baby boomers and $648,800 for Gen Xers.

These savers are not typical, since people who keep contributing for 15 years tend to be steady earners. Still, the pattern is useful.

Time in the plan does most of the heavy lifting.

Plan design helps too.

Vanguard reports that plans with automatic enrollment reach a 94% participation rate, compared with 64% when employees must opt in.

Plans with auto-escalation raise your savings rate by 1% a year, which most people barely notice in their paycheck.

Five moves that work at any age

1. Take the full match. Employer matching contributions are worth about 4.6% to 5.2% of pay at the big recordkeepers.

If you contribute less than the match requires, you are turning down part of your compensation.

2. Aim for 15% in total. That figure includes your contributions and your employer’s.

The average participant defers 7.7% of pay, which brings the total with employer money to about 12.0%.

Most people are closer to the target than they think.

3. Raise your rate by 1% a year.

If 15% feels out of reach, start small.

You can also send half of each future raise straight to your 401(k).

3. Use catch-up contributions after 50.

The IRS lets you add $8,000 above the standard 401(k) limit in 2026.

Workers aged 60 to 63 can add $11,250.

4. Build an emergency fund outside your 401(k).

Boldin’s research found that hardship withdrawals have climbed in recent years.

Of those withdrawals, 36% went to avoid eviction or foreclosure and 31% covered medical bills.

A cash cushion keeps one bad month from damaging years of growth.

A last thought

Retirement saving rewards patience far more than cleverness. If your balance is below the median, a modest increase this year will do more for you than a perfect plan you never start.

If you are ahead, check that your money sits where you want it.

Either way, pull up your balance today and write down the number. Next year, compare it to that note.

Disclaimer: This article is for general information and is not personalized financial advice. Consider talking with a licensed financial professional about your own situation. Figures come from Vanguard, Fidelity, Boldin, SmartAsset and the U.S. Department of Labor.