Fidelity Puts Average 401(k) at $246,500 for Ages 60-64 as 2026 Limit Hits $35,750
Updated
Updated · 24/7 Wall St. · Jul 4
Fidelity Puts Average 401(k) at $246,500 for Ages 60-64 as 2026 Limit Hits $35,750
1 articles · Updated · 24/7 Wall St. · Jul 4
Summary
$246,500 is the average 401(k) balance for Americans aged 60 to 64, Fidelity said, only slightly below the $251,400 average for ages 65 to 69.
The gap matters because workers aged 60 to 63 can contribute up to $35,750 to a 401(k) in 2026, above the $32,500 limit for most savers 50 and older.
Fidelity said the years before age 73 can also be a prime Roth conversion window, when lower income after leaving work may let retirees shift money at 12% tax rates before required minimum distributions begin.
Social Security timing and asset location add to the tax stakes: claiming at 62 cuts benefits by about 30%, while delaying past full retirement age raises them roughly 8% a year to 70.
The planning pressure is rising as household spending averaged $78,535 in 2024, the personal savings rate fell to 3.9% in early 2026, and inflation kept climbing.