How Much Should I Have in My 401(k)?
Key Points – How Much Should I Have in My 401(k)?
- Fidelity targets salary multiples by age, while Vanguard reports what savers actually hold (different benchmarks raise different questions).
- Median balances, not averages, are the fairer comparison; a few large accounts skew every age band’s average upward.
- Your 401(k) is only part of the picture; IRAs, pensions, Social Security, and spousal accounts all factor in.
- Catch-up contributions at 50 and the age-60 super catch-up give late savers a real way to close gaps.
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How Much Should I Have in My 401(k)?
The honest answer to “How much should I have in my 401(k)?” depends on which benchmark you’re looking at and what it assumes. Two widely cited data sets that we’ll review in this article come from Fidelity and Vanguard. Fidelity’s data features salary-multiple targets, while Vanguard’s features average and median account balances. Each data set gives slightly different pictures, and the gap between average and median is bigger than people might expect. Here’s what both benchmarks say, age by age, and how to read them.
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Fidelity Investments Retirement Savings Guidelines
| Age | Fidelity target (multiple of salary) |
| 30 | 1x salary |
| 35 | 2x salary |
| 40 | 3x salary |
| 45 | 4x salary |
| 50 | 6x salary |
| 55 | 7x salary |
| 60 | 8x salary |
| 67 | 10x salary |
FIGURE 1 – Savings Factors to Help You on Your Journey to Retirement – Fidelity1
Fidelity’s targets assume:
- Saving continuously from around age 25
- Retiring at 67
- An overall savings rate near 15% of pay (including any employer match)
- Generating roughly 45% of pre-retirement income from savings in retirement, on top of Social Security
- If you change any one of these assumptions, the target number moves
Vanguard’s How America Saves 2026 Study
| Age band | Average balance | Median balance |
| Under 25 | $7,259 | $2,234 |
| 25–34 | $50,261 | $18,732 |
| 35–44 | $120,742 | $46,919 |
| 45–54 | $214,991 | $78,730 |
| 55–64 | $305,006 | $107,269 |
| 65+ | $330,186 | $103,202 |
| All participants | $167,970 | $44,115 |
FIGURE 2 – How America Saves 2026 – Vanguard2
Vanguard’s How America Saves annual study features year-end 2025 recordkeeping data from 4.6 million participant accounts. The totals above in Figure 2 cover 401(k) and similar defined-contribution plan balances only and don’t include IRAs, pensions, or other savings.
Two things stand out immediately from these studies. Fidelity’s multiples describe a target tied to your own salary. Meanwhile, Vanguard’s numbers describe what actual savers of a given age currently hold. And in every age band, the average balance runs well above the median (sometimes by three or four times) because a relatively small number of large accounts pull the average up. Let’s dive into why that matters.
401(k) Benchmarks by Age
Vanguard reports balances in age bands rather than single ages, so the figures below pair Fidelity’s single-age multiple with the nearest Vanguard band. Treat both as reference points, not a verdict on any one person’s plan.
How Much Should I Have in My 401(k) at 30?
- Fidelity’s target: 1x your salary.
- Vanguard’s 25–34 band: $50,261 average, $18,732 median.
This decade is about the mechanics, not the number. If your employer matches contributions, capturing the full employer match can be one of the most valuable benefits available in your plan. Skipping it is leaving part of your compensation unclaimed. If you’re unsure whether you’re capturing all of it, that’s worth checking before anything else on this list.
How Much Should I Have in My401(k) at 35?
- Fidelity’s target: 2x your salary.
- Vanguard’s 35–44 band: $120,742 average, $46,919 median.
Contribution rate tends to matter more than investment choices at this stage. That’s because there’s more time left for a higher savings rate to compound. Automatic annual increases to your deferral percentage (even one point a year) tends to be an effective way to close a gap without a single active decision after the first one.
How Much Should I Have in My 401(k) at 40?
- Fidelity’s target: 3x your salary.
- Vanguard’s 35–44 band: $120,742 average, $46,919 median.
This is a reasonable point for a first real checkpoint: not a full plan overhaul, but a look at whether your savings rate, asset allocation, and beneficiary designations still match your circumstances. A decade of raises, job changes, or a growing family can quietly shift all three.
How Much Should I Have in My 401(k) at 45?
- Fidelity’s target: 4x your salary.
- Vanguard’s 45–54 band: $214,991 average, $78,730 median.
Mid-career is the honest mid-course correction point. There’s still enough runway for adjustments to compound meaningfully, but not so much that a shortfall can be closed effortlessly. If your balance sits well below the median for your band, this is the age to name that gap and build a specific plan to close it rather than a vague intention to “save more eventually.”
How Much Should I Have in My 401(k) at 50?
- Fidelity’s target: 6x your salary.
- Vanguard’s 45–54 band: $214,991 average, $78,730 median.
Age 50 is when catch-up contributions become available, letting you defer more into your 401(k) above the standard annual limit. For anyone behind their target multiple, this is the first real lever pulled specifically for people in this age range. 401(k) catch-up contribution limits are worth understanding even if you’re not ready to use the full amount yet.
How Much Should I Have in My 401(k) at 55?
- Fidelity’s target: 7x your salary.
- Vanguard’s 55–64 band: $305,006 average, $107,269 median.
The jump in the average balance for this band is partly a reflection of peak earning years and partly of the accounts that have been compounding longest. It serves as a useful reminder that the average pulls further from the median the closer you get to retirement. The median is the more realistic peer comparison for most savers.
How Much Should I Have in My 401(k) at 60?
- Fidelity’s target: 8x your salary.
- Vanguard’s 55–64 band: $305,006 average, $107,269 median.
Ages 60 through 63 carry an even higher “super catch-up” contribution limit on top of the standard catch-up amount. It’s a narrow window worth knowing about if you’re weighing a final push before retirement. It’s a plan-design detail, not a guarantee of any particular outcome, and eligibility rules matter, so confirm the specifics against current-year limits before assuming it applies to you.
How Much Should I Have in My 401(k) at 65 and Beyond?
- Fidelity’s target at 67: 10x your salary.
- Vanguard’s 65+ band: $330,186 average, $103,202 median.
Notice that the 65+ median ($103,202) is actually a little below the 55–64 median ($107,269), even though the average keeps climbing. That’s what withdrawals in early retirement look like in aggregate data. Some people in this band are still accumulating, others have already begun drawing the account down. Past this point, the more useful question usually shifts from “how much do I have” to “in what order do I spend it, and from which accounts.”
While your workplace retirement plan can play a significant role in your retirement income strategy, it’s important not to just focus on one account balance. Rather than wondering whether you’re wealthy for your age, get your Modern Confidence Score today to help understand how confident you are across each area of a connected, comprehensive financial plan.
Before we share more about our Modern Confidence Score and Advantage Offerings, let’s review a few more key takeaways from the Vanguard and Fidelity studies.
Average vs. Median, and Why the Average Lies
Look at the “all participants” row in the Vanguard table again. There’s a $167,970 average against a $44,115 median. The average is nearly four times the median. That gap exists in every age band, and it exists for a simple statistical reason. A relatively small share of accounts, built by decades of high contributions, high incomes, or long market exposure, pull the average well above where many savers actually sit.
That makes the average a poor benchmark for the typical saver and a much better one for describing the plan system as a whole. If you compare your own balance to an average and feel behind, the more useful comparison is usually the median for your age band. It describes the saver in the middle of the pack, not the saver with the largest account.
Why These Benchmarks Can Mislead You
Neither benchmark tells the whole story for a few specific reasons worth naming plainly.
Your 401(k) is one account among potentially several retirement income sources. Both benchmarks above measure 401(k) balances only. They don’t count IRAs, a spouse’s retirement accounts, a pension, Social Security, or taxable investment accounts. All of those factor into whether you’ve actually saved enough to retire. Two people with identical 401(k) balances can be in very different overall positions once the rest of the picture is included.
Fidelity’s multiples rest on specific assumptions, including retiring at 67, saving around 15% of pay consistently from your mid-20s, and targeting roughly 45% income replacement from savings. While these may be reasonable planning assumptions, they are not universal facts. A different retirement age, a pension, a paid-off mortgage, or a different desired lifestyle in retirement all shift what multiple actually fits your situation.
Identical balances can mean different things. As a hypothetical example: a 55-year-old with $300,000 and no other retirement savings is in a different position than a 55-year-old with $300,000 in a 401(k) plus a pension and a fully funded IRA. The balance is a single data point, not a complete assessment.
Behind the Benchmark: What Actually Moves the Number
For many savers, three or four factors do more to move a 401(k) balance over time than any single investment decision.
Savings Rate, Before Returns
How much goes in every paycheck is the input you control most directly, and it compounds the same way returns do — a higher rate sustained for years tends to matter more than chasing a slightly higher return on a smaller contribution base.
Full Match Capture
If your employer matches contributions and you’re not contributing enough to receive the full match, that’s the first gap to close.
Catch-up Contributions at 50; Super Catch-up Contributions from 60-63
Both catch-up contributions and super catch-up contributions let eligible savers defer more than the standard annual limit.
Current-year Contribution Limits
For 2026, the employee deferral limit is $24,500 under IRS Notice 2025-67, with additional catch-up amounts for eligible savers 50 and older and a further super catch-up for ages 60 to 63.3
At or Past the Benchmark and Close to Retirement
If your balance is at or above the benchmark for your age, the useful question changes. It stops being “how much should I have” and becomes “what do I do with what I have.” That question covers what to do with your 401(k) after retirement, withdrawal sequencing across account types, and what counts as a good monthly income once you stop working.
If your balance is below the benchmark with retirement in sight, the honest next step is usually a direct look at readiness rather than another comparison to an average. That’s the question behind whether you’ve actually saved enough to retire, which weighs your full financial picture rather than one account in isolation.
Frequently Asked Questions
Is the Average or Median 401(k) Balance the Better Benchmark?
For many people, it’s the median. Vanguard’s average balances run three to four times higher than the median in every age band because a relatively small number of large accounts pull the average up. The median reflects the saver in the middle of the pack.
What If My 401(k) Balance Is Below the Benchmark for My Age?
A below-benchmark balance is a starting point for a plan, not a verdict. The factors that tend to move a balance most, such as savings rate, full match capture, and catch-up contributions once eligible, are all still within your control regardless of your current age or balance.
Do These Benchmarks Include IRAs, Pensions, or a Spouse’s Accounts?
No. Both the Fidelity multiples and the Vanguard figures measure 401(k)-style workplace plan balances only. They leave out IRAs, pensions, Social Security, a spouse’s retirement accounts, and taxable investments, all of which factor into a fuller picture of retirement readiness.
What Is the Super Catch-up Contribution from Age 60-63?
It’s an additional contribution limit available to eligible savers ages 60 through 63, on top of the standard catch-up amount available starting at 50. Eligibility rules and dollar amounts are specific, so confirm the details against current-year contribution limits before assuming it applies to you.
Are Fidelity’s Salary Multiples the Same Thing as Vanguard’s Average Balances?
No. They answer different questions. Fidelity’s multiples are a target tied to your own salary, based on assumptions like retiring at 67 and a 15% savings rate. Vanguard’s averages and medians describe what real savers of a given age currently hold. Both are useful reference points, but neither is a personalized plan.
How to Know If You Are Actually on Track
A benchmark table can tell you how you compare to a national average or a salary multiple. It can’t tell you whether your specific retirement plan works. That depends on your spending goals, other income sources, health, tax situation, and how your investments are positioned relative to when you’ll need the money.
A real assessment looks at all of that together: your total savings across account types, your expected income sources, your time horizon, and how much flexibility your plan has if markets or circumstances shift. That’s a different exercise from checking a single number against a table, and it’s the one worth doing before drawing firm conclusions from any benchmark, including the ones in this article.
Get Your Modern Confidence Score
That’s where the Modern Confidence Score comes in. Our team at Modern Wealth wants to understand how confident you are not just about how much you have in your 401(k), but your financial life as a whole. Do you have a financial plan that’s tailored to your specific goals and that incorporates important considerations around tax planning, estate planning, investment management, and insurance planning? Those are our Advantage Offerings.
Our team is ready to help you identify any potential gaps that you may have in each of those areas. You can get started by getting your Modern Confidence Score below. We look forward to the opportunity to help you enjoy today with confidence for tomorrow.
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Resources Mentioned in This Article
[1] Fidelity Investments Retirement Savings Guidelines
[2] Vanguard, How America Saves 2026
Investment advisory services offered through Modern Wealth Management, LLC, a registered investment adviser.
The views expressed represent the opinion of Modern Wealth Management, LLC, a registered investment adviser. Information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Modern Wealth Management does not accept any liability for the use of the information discussed. Consult with a qualified financial, legal, or tax professional prior to taking any action.