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Started By
Message
The Average Retirement Savings By Age
Posted on 4/30/26 at 10:30 am
Posted on 4/30/26 at 10:30 am
LINK
Sure, here comes another one. Saw this today and posting in context of "Can I retire?" discussions on MT board of recent.
Summary:
Things that caught my eye:
- The intro para places peer relativity first (to "vacation together" or "move to same retirement community"). Ironic, because it is keeping up with Joneses that likely impedes retirement savings size to begin with. Premise is centered around catching up. Bolded what really matters.
- 20s & 30s: The "compounding" phase: At this stage, your most powerful tool isn't the amount you contribute, but the time that money stays in the market. Time is your best friend! Instead of caring what your peers are wearing, driving or where they are vacationing, invest! Do it.
- 40:s Front-Loading and "The 15-Year Horizon": By age 45, you are roughly 20 years away from standard retirement age. This is the last window where compounding can still do the "heavy lifting" without you needing to contribute astronomical amounts in your 60s.
- 50s: The "catch-up" phase: Turning 50 unlocks higher contribution ceilings, allowing you to shove more money into tax-advantaged buckets.
- 60s: The "super catch-up" phase: The SECURE 2.0 Act created a unique high-velocity savings window for those in their early 60s.
Sure, here comes another one. Saw this today and posting in context of "Can I retire?" discussions on MT board of recent.
Summary:
quote:
It's helpful to know the average retirement savings of your peers because, let's face it, your friends won't volunteer their numbers. As you near the end of your career, you'll want to be in at least as strong a financial situation as others your age so you can afford to vacation together or even move to the same retirement community. Most of all, it's a crucial step to ensure you're saving enough for the kind of retirement you want.
quote:
Mean savings:
Less than 35 = $49,130
35-44 = $141,520
45-54 = $313,220
55-64 = $537,560
65-74 = $609,230
75 and over = $462,410
Things that caught my eye:
- The intro para places peer relativity first (to "vacation together" or "move to same retirement community"). Ironic, because it is keeping up with Joneses that likely impedes retirement savings size to begin with. Premise is centered around catching up. Bolded what really matters.
- 20s & 30s: The "compounding" phase: At this stage, your most powerful tool isn't the amount you contribute, but the time that money stays in the market. Time is your best friend! Instead of caring what your peers are wearing, driving or where they are vacationing, invest! Do it.
- 40:s Front-Loading and "The 15-Year Horizon": By age 45, you are roughly 20 years away from standard retirement age. This is the last window where compounding can still do the "heavy lifting" without you needing to contribute astronomical amounts in your 60s.
- 50s: The "catch-up" phase: Turning 50 unlocks higher contribution ceilings, allowing you to shove more money into tax-advantaged buckets.
- 60s: The "super catch-up" phase: The SECURE 2.0 Act created a unique high-velocity savings window for those in their early 60s.
This post was edited on 4/30/26 at 10:32 am
9
Posted on 4/30/26 at 10:39 am to Everyday Is Saturday
quote:
Mean savings: Less than 35 = $49,130 35-44 = $141,520 45-54 = $313,220 55-64 = $537,560 65-74 = $609,230 75 and over = $462,410
This seems way too low...
Posted on 4/30/26 at 10:41 am to Everyday Is Saturday
Average is not as useful since there are large savers.
Basically most people save nothing
This post was edited on 4/30/26 at 10:42 am
Posted on 4/30/26 at 10:44 am to Roy Curado
I'm not sure this can be accurate. Take 45-54. Say the mean at 50 is 313,220. If they are invested in S&P index, then at 60 it should be worth around 812,000, assuming no more contributions. Unless they are talking about equity in this situation, but it doesn't see correct.m
Posted on 4/30/26 at 10:45 am to Roy Curado
Median numbers should be worse
Posted on 4/30/26 at 10:46 am to UltimaParadox
That's just retirement accounts as of 2022. So those numbers have surely increased since then.
Posted on 4/30/26 at 10:48 am to Roy Curado
quote:
This seems way too low...
Not when you realize most people have virtually nothing saved, if not basically underwater.
Posted on 4/30/26 at 10:57 am to Everyday Is Saturday
Eh, last 25 years have proven retirement savings plans are less about structure and more about being a birthdate lottery.
Posted on 4/30/26 at 10:57 am to UltimaParadox
I left out median and that misses your great point. The real story of each age bracket is worse.
The medians are in the link.
The medians are in the link.
This post was edited on 4/30/26 at 10:58 am
Posted on 4/30/26 at 11:01 am to Boss
I think this is a cross-section of a point in time.
Note - this is mean. Median far worse and is included in link.
Note - this is mean. Median far worse and is included in link.
Posted on 4/30/26 at 11:10 am to lsuconnman
quote:
Eh, last 25 years have proven retirement savings plans are less about structure and more about being a birthdate lottery.
The hell is this supposed to mean?
Posted on 4/30/26 at 11:13 am to Roy Curado
quote:
This seems way too low...
No, sometimes this board of educated high earners forgets they are in the top 10%-20% and do not represent the common man.
In Hawgleg's case, his liquid assets and home value place him in to 20% for wealth in the 50-54 age band. 80% of 50 year olds have less wealth than him.
Posted on 4/30/26 at 11:24 am to Everyday Is Saturday
quote:
35-44 = $141,520
Damn well I'm way ahead of the game! Guess I'll take it.
Posted on 4/30/26 at 11:27 am to Everyday Is Saturday
I enjoy these posts or YT videos, makes me feel better about myself because half of Americans are so financially stupid.
90% of the time though, I don’t know if they’re talking about individual amounts or joint with a spouse. I assume individual, but could be wrong.
90% of the time though, I don’t know if they’re talking about individual amounts or joint with a spouse. I assume individual, but could be wrong.
Posted on 4/30/26 at 11:35 am to Tifway419
I didn't read the article. Are they just talking about bona fide retirement accounts or money stashed in ALL accounts?
Posted on 4/30/26 at 11:45 am to Jmcc64
All accounts, but only accounts dedicated for retirement. So could be 401k, IRA, Savings, and HSA.
So just retirement, not net worth.
So just retirement, not net worth.
Posted on 4/30/26 at 11:51 am to Everyday Is Saturday
My wife and I are mid-40s, these numbers make me feel good. We're way ahead with a little over $1.3M in IRA/401k retirement accounts already.
Just need to live long enough to enjoy it. If not, our son gets it all, which is piece of mind as well.
Just need to live long enough to enjoy it. If not, our son gets it all, which is piece of mind as well.
Posted on 4/30/26 at 11:56 am to UltimaParadox
quote:
Average is not as useful since there are large savers.
Median isn’t useful either.
50% of society are essentially worthless. I don’t need them included in any comp numbers to try to determine how I am doing.
Let me see median numbers of minimum college educated professionals with STEM degrees.
Posted on 4/30/26 at 12:01 pm to Roy Curado
quote:
This seems way too low...
Does it? The vast majority of this country is financially illiterate.
Posted on 4/30/26 at 12:06 pm to PhiTiger1764
quote:
edian isn’t useful either.
50% of society are essentially worthless. I don’t need them included in any comp numbers to try to determine how I am doing.
Let me see median numbers of minimum college educated professionals with STEM degrees.
You seem to have mis-interpreted the meaning of the data. It isn't supposed to show you how you are doing. It is there to provide data and educate on the current state of things as of when the data was taken. There are plenty of other articles/sites out there to help you determine how you are doing for your goals.
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