How much money Americans in their 50s have in their 401(k)s

Americans in their 50s are right around the corner from reaching retirement age, but don't have much saved up for their post-work years.By the time you reach your 50s, you should have around six times your salary saved for retirement, according to Fidelity Investments, the largest 401(k) provider in the U.S. If you earn around $100,000 annually, you'd ideally have $600,000 saved for retirement by the time you reach your 50s.However, many people in that age range have less than half of that in their 401(k)s.The median 401(k) account balance for Americans in their 50s is $60,900 as of the last quarter of 2023, per Fidelity data provided to CNBC Make It. The average account balance is $199,500, but a few larger account balances can skew the average to be higher.Here's how much Americans have in their 401(k)s by age as of the fourth quarter of 2023, according to Fidelity.One reason people in their 50s tend to fall short with their retirement savings is because they didn't get to benefit fr...