Are Your Retirement Savings Below Average for Your Age? Here's the Latest Data.

Core Insights - Retirement savings are a crucial aspect of financial planning, but other priorities, such as home ownership, may take precedence for some individuals [3][4] - The U.S. government's Survey of Consumer Finances provides valuable data on net worth across different age groups, which is essential for assessing financial health [5][6] - Fidelity Investments focuses on retirement accounts like 401(k) and IRA balances, which should be considered alongside net worth for a comprehensive financial assessment [7] Net Worth by Age - The median and mean net worth figures vary significantly, indicating that the mean can be skewed by high-net-worth individuals. Most individuals should aim for the median values [6][8] - The median net worth for different age groups is as follows: - Under 35: $39,000 - 35-44: $135,300 - 45-54: $246,700 - 55-64: $364,270 - 65-74: $410,000 - 75 and above: $334,600 [6]