How much money Americans in their 30s and 40s have in their 401(k)s—see how you stack up
Here's how financial pros say you can tell if you're on track to retire, and how to catch up if you've fallen behind.
TL;DR
- Average 401(k) balances saw a 10.5% increase from March to June, the largest quarterly gain since 2020.
- Workers are saving a historically high percentage of their pay, with an average of 14.4% invested in 401(k)s.
- More than 80% of participants contribute enough to receive their full employer match.
- Financial planners recommend having your annual income saved by age 30 and three times your income by age 40, encompassing all retirement savings accounts.
- Overall net worth, including assets like homes and investments minus debts, is also a key indicator of retirement readiness.
- Falling behind on savings benchmarks in your 40s is not insurmountable, as there is still significant time for investments to grow.