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Fidelity reports an average 401(k) balance of $257,400 for participants ages 60–64 and $258,800 for ages 65–69, based on data as of March 31, 2026. Those are averages among participants in Fidelity-recordkept plans—not a national average or a savings target. Your own retirement readiness depends on more than one account balance.
What is the average 401(k) balance for people in their 60s?
Fidelity’s age-specific figures show a mean balance of $257,400 for participants ages 60–64 and $258,800 for ages 65–69. The figures are based on participant data as of March 31, 2026, and cover Fidelity’s corporate defined-contribution plans. Fidelity says its dataset includes 26,800 plans and 25.6 million participants, including the advisor-sold market, while excluding the tax-exempt market. Some plan categories and Fidelity employees are excluded from its behavioral statistics. See Fidelity’s age-based 401(k) figures and methodology.
These numbers describe balances among participants in one recordkeeper’s plans. They do not count every American in their 60s, including people without a 401(k), people with plans elsewhere, or people whose retirement savings are held in other accounts. Fidelity’s separate 70-and-older band is $264,500; it should not be folded into the figures for people in their 60s.
Why can the average differ from what a typical saver has?
“Average” usually means the mean: add the balances and divide by the number of participants. A relatively small number of very large accounts can pull that figure upward. The median is the midpoint: half the participants have balances above it and half below it.
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Vanguard’s older, broader age bands show how far the two measures can diverge. Its year-end 2024 data reports an average of $272,588 and a median of $88,488 for participants ages 65 and older. That average is not a description of what a typical participant in that group has.
How do the Fidelity and Vanguard figures compare?
The sources measure different age groups, dates, and recordkeeping populations. Use the table as context, not as a direct provider-to-provider ranking or a precise estimate for all people ages 60–69.
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| Source and data date | Age group | Average | Median | Scope |
|---|---|---|---|---|
| Fidelity, as of March 31, 2026 | 60–64 | $257,400 | Not stated by Fidelity in the cited age table | Fidelity-recordkept corporate defined-contribution plans |
| Fidelity, as of March 31, 2026 | 65–69 | $258,800 | Not stated by Fidelity in the cited age table | Fidelity-recordkept corporate defined-contribution plans |
| Vanguard, year-end 2024 | 55–64 | $244,750 | $87,571 | Nearly 5 million participants across Vanguard’s recordkeeping business |
| Vanguard, year-end 2024 | 65 and older | $272,588 | $88,488 | Nearly 5 million participants across Vanguard’s recordkeeping business |
Vanguard’s age groups do not isolate participants ages 60–69: its 55–64 group includes people in their 50s, and its 65-and-older group has no upper age limit. Its report covers its own recordkeeping participants, not the same population as Fidelity’s. Vanguard’s How America Saves report provides its plan data and age bands.
How do you compare with people your age?
Use the published averages as reference points, not pass-or-fail targets. A peer group may differ from you in income, how long its members have participated in a plan, access to an employer plan, employer contributions, job changes, retirement timing, and other assets. The figures do not establish a personalized amount you should have saved.
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Also distinguish a single 401(k) from your full retirement picture. You may have savings in more than one workplace plan, an IRA, a brokerage or savings account, CDs, or an HSA intended for retirement. Fidelity notes that these resources can sit across multiple account types. Fidelity explains the factors that shape a retirement savings estimate.
Broader account-ownership data offers context, but it is not a balance comparison. In its 2025 survey, the Federal Reserve found that 73% of adults ages 55–64 and 62% of adults age 65 and older had a tax-preferred retirement account. Among non-retirees overall, 35% said their retirement saving was on track—a reported perception, not an objective test of retirement readiness. Read the Federal Reserve’s 2025 Report on the Economic Well-Being of U.S. Households.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to assess whether your savings are on track
A useful assessment starts with your expected retirement spending and the resources available to meet it. The 401(k) balance is only one input; the answer can change substantially with retirement age, lifespan, lifestyle, housing and health-care costs, inflation, and investment returns.
- Gather your resources. Add the retirement accounts and other savings you expect to use, while keeping each account type and any applicable restrictions clear.
- Estimate spending. Build a detailed budget for retirement, including housing and health care, rather than assuming current expenses will simply continue unchanged.
- Choose a retirement timeline. Test the age at which you expect to stop working and consider how long the savings may need to last.
- Project different assumptions. Use a retirement calculator or planning tool to see how changes in lifespan, inflation, investment returns, or spending affect the outlook. A projection is an estimate, not a guarantee.
- Review saving opportunities. Vanguard suggests reviewing finances, considering higher contributions, and checking whether catch-up contributions may apply to savers age 50 or older. Whether a change makes sense depends on your circumstances.
Vanguard’s retirement-savings guidance discusses budgeting, contributions, and projecting how savings may last. Neither a peer average nor a general rule can replace a projection based on your own expected expenses and resources.
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