Vanguard Puts Median 65+ 401(k) Balance at $95,425 as Average Reaches $299,442
Updated
Updated · FinanceBuzz · Jun 28
Vanguard Puts Median 65+ 401(k) Balance at $95,425 as Average Reaches $299,442
1 articles · Updated · FinanceBuzz · Jun 28
Summary
$95,425 is the median 401(k) balance for Americans 65 and older in Vanguard's latest data, far below the $299,442 average that is lifted by wealthier savers.
A 4% withdrawal rate would turn those balances into about $3,817 a year at the median and $11,977 at the average, underscoring how limited retirement-account income can be in the mid-70s.
Fidelity's long-used benchmark implies a 74-year-old may need roughly $478,000 saved—about 10 times the $47,790 median income for people 75 and older cited from Empower.
Social Security adds only modest support, with average monthly benefits of $1,424 at age 62, $2,016 at full retirement age and $2,275 at 70; a 2024 AARP study also found about 20% of Americans 50 and older have no retirement savings.