Key Takeaways Only 3.2% of American retirees have $1 million or more in their retirement accounts. The average retirement savings for households between the ages of 65 and 74 is $609,000, while the median is only about $200,000. The number of "401(k) millionaires" in America reached a record of about 497,000 in 2024. Many Americans dream of retiring with a million-dollar nest egg—in fact, many Americans think you need about $1.5 million to retire—but the reality is starkly different. According to ...