Most Americans Are Behind on Retirement Savings. Here Is the Honest Benchmark by Age.

"According to the most recent version of the Federal Reserve's Survey of Consumer Finances, here are the median account balances by age: While the average balances are significantly higher, those are skewed upward by people who have large incomes, substantial net worths, and a ton of money socked away for their golden years."

"The sad reality is that these amounts are just too little, especially for those already in retirement or nearing their traditional retirement age. In fact, if you follow the common 4% rule for withdrawals, those who are 75 and up would be able to take just $5,200 out of their retirement account each year, while the typical 65 to 70-year-old would generate an income of $8,000."

"Now, this isn't probably going to be your sole income source. You'll likely claim Social Security benefits as well. Unfortunately, the average monthly benefit from Social Security was $2,071 at the start of 2026. That means retirement benefits provide an average of $24,852 per year to the typical retiree."

"So, unless you're comfortable living on less than $35K a year in combined income, you're going to need larger-than-average accounts to be comfortable in your later years."

Median retirement account balances by age are low for many Americans, with average balances skewed upward by people with high incomes and large net worths. The amounts are especially insufficient for those already retired or near traditional retirement age. Using the common 4% withdrawal rule, people 75 and up could withdraw about $5,200 per year, while typical 65 to 70-year-olds could withdraw about $8,000 per year. Social Security adds an average of $2,071 per month, or about $24,852 per year. Combined income needs to exceed roughly $35,000 per year for comfort, implying larger-than-average retirement accounts for many households.

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