Average 401(k) Balance by Age (2023 Edition)
Money Guy Show
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How to Save for Retirement in Your 40s
In our 30s, average 401k balance was about 48,000. By the time we get to our 40s, average401k balance is about 108,000. According to fidelity, you should have almost five times 4.8 times your annual income saved by the time you get data. Even if you start at 40 and you start saving 25%, you still have to work till almost 70 until you're able to replace 80% of your income.
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