We all naturally wonder how we stack up against each other – are we the average height, weight, etc? Are we the average age to get married? When it comes to retirement, there are many questions to ponder – if you have the average amount of savings, or if you’ll retire at the average age for example.
Retirement Savings Averages
If you’d like to know where you stack up against the average for retirement savings, for those 65 and older, the average savings balance is $407,581. Only 17.3% of those older than 65 have a balance of more then$700,000 with just 11.6% of that population having a balance of over a million. The highest balances are typically for those in the age range of 55-64.
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