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U.S. retirement accounts have an average balance of $87,000, according to most recent Federal Reserve Survey of Consumer Finances. However, retirement savings vary considerably by age. As you ...
Age 50 – Between 3 and 6 x Your Current Salary. Age 60 – Between 5.5 and 11 x Your Current Salary. So, for example, say you make $50,000 per year. Based on this advice, to retire with your ...
Here’s a breakdown of the data by age bracket, including the median value of retirement accounts and percentage of those with such accounts. All families : $87,000, 54.4% Under 35 : $18,880, 49.6%
In 2022, Vanguard published the following average balances of retirement savings by age group. 25 to 34 years: $30,017. 35 to 44 years: $76,354. 45 to 54 years: $142,069.
Average retirement savings, not surprisingly, rise with age. The average balance for those 45 to 52 is $179,200, rising to $256,244 for those 55 to 64 and $279,997 for those already retired.
A Vanguard study found those between 55 and 64 held an average of roughly $256,000. But this includes high income earners; breaking the figures down, it shrinks to a median of about $90,000.
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