Average 401(k) Balance for People in Their 60s in 2026—What You Need to Know

Patricio Nahuelhual / Getty Images You can boost your savings by downsizing now instead of in retirement, taking advantage of higher catch-up contributions in your 60s, and reallocating assets to prioritize growth. Key Takeaways The average 401(k) balance for people in their 60s was $568,040 as June 2025. The median amount saved was much lower, at $188,792. How much you need to have saved for retirement will depend on your lifestyle and annual spending expectations. One rule of thumb is to save eight t ...