Average 401(k) Balance By Age - How Much Should You Have? | Bankrate

Investors have been on quite a ride the past few years. Consistent contributors to retirement plans, such as a 401(k), have been largely rewarded by staying the course through the ups and downs in the markets during the bear market of 2022 and interest rate hikes by the Federal Reserve.Average 401(k) plan balances reached $112,572 in 2022, down from $141,542 in 2021 and $129,157 in 2020, according to Vanguard’s “How America Saves 2023” report.While short-term market volatility is inevitable, it’s important not to overreact to large swings in price. Remember to stay focused on your long-term investment plan and keep building up that retirement nest egg.Average and median 401(k) balance by ageThese are the average and median balances for specific age groups at the end of 2022, according to Vanguard, which gathered data from 5 million defined contribution plan participants across its recordkeeping business.AgeAverage Account BalanceMedian Account BalanceSource: Vanguard, “How America Save...