To help you maximize your retirement dollars, the 401k is an employer-sponsored plan that allows you to save for retirement in a tax-sheltered way. ... The Average 401k Balance by Age. AGEAVERAGE 401K BALANCEMEDIAN 401K BALANCE 35-44$86,582$32,664 45-54$161,079$56,722 55-64$232,379$84,714 65+$255,151$82,297 2 more rows Feb 25, 2022