According to a recent analysis, the average and median account balance for retirement accounts was the following, respectively:3
Under 25: $6,264 and $1,786
25–34: $37,211 and $14,068
35–44: $97,020 and $36,117
45–54: $179,200 and $61,530
55–64: $256,244 and $89,716
65-plus: $279,997 and $87,725
While average balances are higher, those numbers are skewed by a relatively small number of more aggressive savers. Therefore, median balances more accurately reflect the savings amount of a typical adult.
The data helps confirm that, if you're behind your target retirement amount, you're not alone. If you find yourself in that situation, consider strategies to increase your savings rate and possibly adjust your retirement age or future lifestyle.