What is the average 401(k) balance?

That’s likely at least partially a product of peak earning years. According to compensation research company Payscale, women hit their peak earnings on average at age 44. For men, that age is 55. Average 401 (k) balance: $168,646 Median 401 (k) balance: $60,763

What was the average 401(k) balance in 2022?

Based on its analysis in 2023, the average 401 (k) balance was $112,572 in 2022, down about 20% from 2021. The drop was largely due to declines in the stock and bond markets through the end of 2022. However, averages varied substantially by age. The table below shows the average and median balances for individuals in different age groups.

What is the average 401(k) balance in 2023?

The average 401 (k) balance was $112,572, according to Vanguard's 2023 analysis. Men have higher average 401 (k) balances than women. Vanguard's analysis shows that many workers are falling short of the recommended retirement savings targets. It's imperative that you're financially prepared for retirement.